Argentinian Revolution 2001

Documentary on the events that led to the economic collapse of Argentina in 2001 which wiped out the middle class and raised the level of poverty to 57.5%. The Folly of Elastic Money and civil unrest and rioting in Argentina, which took place during December 2001, with the most violent incidents taking place on December 19 and December 20 in the capital, Buenos Aires, Rosario and other large cities around the country. The uprising was a predominantly middle-class uprising against the government of President Fernando de la Rúa, who had failed to contain the economic crisis that was going through its third year of recession. Since 1991, the Argentine peso was at a fixed exchange rate with the US dollar. The dollarization had been instrumental to overcome the chronic hyperinflation bursts of the late 1980s, but almost entirely deprived Argentina of control over its monetary policy, and a sudden revaluation of the dollar in 1997 ended up harming exports, which were the only important source of foreign currency at the time.

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