Austral Plan
Quick Summary
The Austral Plan was an economic austerity program implemented in Argentina in 1985. It introduced a new currency, the austral, along with wage and price controls and currency devaluations. Initially, these measures helped to reduce inflation and restore confidence in the economy, leading to a restructuring of Argentina's foreign debts. However, inflation began to rise again, and the austral's value declined. The plan ultimately struggled to achieve long-term economic stability.1
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Raúl Alfonsín…introduced an economic program, the Austral Plan (1985), that met with limited success. He prosecuted members of the armed forces for the human rights abuses of the late 1970s, and several high-ranking officials, including former Argentine presidents Jorge Rafaél Videla (1976–81) and Roberto Viola (1981), received life prison sentences. Later,…
Read More…introduced an economic program, the Austral Plan (1985), that met with limited success. He prosecuted members of the armed forces for the human rights abuses of the late 1970s, and several high-ranking officials, including former Argentine presidents Jorge Rafaél Videla (1976–81) and Roberto Viola (1981), received life prison sentences. Later,…
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ArgentinaRestoration of democracyAlfonsín launched the Austral Plan, an austerity program that implemented a new currency (the austral), wage and price controls, and currency devaluations. The measures initially brought down inflation and restored the confidence of international bankers. Argentina then restructured its foreign debts, which had reached crisis proportions. The inflation…
Read MoreAlfonsín launched the Austral Plan, an austerity program that implemented a new currency (the austral), wage and price controls, and currency devaluations. The measures initially brought down inflation and restored the confidence of international bankers. Argentina then restructured its foreign debts, which had reached crisis proportions. The inflation…
Read More