Chapter 9, Problem 17MESP

Summary Introduction

To discuss:

How local and international companies managed the business at the height of Argentina’s crisis.

Introduction:

Argentina was the star of the Latin America in the 1990s, but it defaulted on public debts in early 2002, it was the largest public default by any country ever. In order to stabilize the economy, the government seized and restricted the bank accounts and commercial transactions which resulted in a cash crisis and eventually took shape of big economic crisis.