Argentina Run for The Money

A fight to save the economy -- and the government

Economy Minister Antonio Erman Gonzalez called it "a week of economic terror." That was no exaggeration, even in a country where economic scare stories are all too common. Among the latest horrors: a sudden year-end collapse of the value of the austral, which plunged from 1,200 to the U.S. dollar to 2,000 before markets closed for the New Year, and price rises of as much as 100% as rumors circulated that the value of Argentina's national currency might be halved again. Shell-shocked citizens waited for Erman, the third Economy Minister since President Carlos Saul Menem took office last July, to announce...

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