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Argentina, 1946–83: The Economic Ministers Speak by Guido Di Tella, Carlos Braun

By Guido Di Tella, Carlos Braun

Representing the speeches and papers given by way of ministers or different specialists on the symposium on Argentina's fiscal coverage 1946-1983 held in Toledo, Spain, this assortment spans either the commercial and political dimensions of the improvement of Argentinian monetary regulations.

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Sample text

Inflation dropped from 11 per cent a month to less than half that figure. The balance of trade continued to improve but external uncertainty was high and the exchange rate began to move in an erratic way which forced the free-floating policies to be abandoned and replaced by a dirty float, much as in the previous stage. Now, however, this was very difficult to maintain in the face of the beginning of destabilizing speculation. In April 1982 the military occupied the Malvinas Islands, which Argentina had laid claim to once more as having been under her 28 Introduction sovereignty since 1833.

1 Alfredo Gomez Morales Mr Gomez Morales was born in Buenos Aires in March 1908 and studied economics at the University of Buenos Aires. In the first Peron Administration (1946--55) he was Director of the General Tax Bureau, Under-Secretary of Commerce, President of the Central Bank and Minister of Finance. During the second Peron Administration he was again appointed President of the Central Bank and later Minister of Economy, and was also Plenipotentiary Minister and Ambassador. He has written Las medidas de emergencia en Ia politica de abastecimiento, Adaptaci6n de Ia politica fiscal a los principios econ6micos y sociales de Ia revoluci6n, Funci6n del Estado en Ia vida econ6mica del pais y en el manejo administrativo de Ia deuda publica and Curso de politica econ6mica.

The government was hurriedly replaced by a new military group which endeavoured to bring some order and save face. The new President, General Reynaldo Bignone, and the top military, conscious of the collapse of the 'process', began to move towards supporting a return to civilian rule and the organizing of democratic elections, soon announced for the end of 1983. The first Economic Minister of the Bignone administration, Jose Maria Dagnino Pastore, and the energetic President of the Central Bank, Domingo Cavallo, started a sweeping financial reform.

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