Argentina
By Larry Habegger | Permalink |
No Comments | December 21st, 2001 | Trackback
The economic crisis here boiled over into full-blown chaos Dec. 19 when riots and looting broke out in Buenos Aires and many other areas. A 30-day state of emergency was imposed that limits constitutional guarantees and gives the government additional powers including the right to impose curfews, arrest people based on suspicion and call out the army. The unrest was the worst in a decade and testament to the public’s deep frustration with the government’s inability to fix the economy. Such public disorder could affect medical services, access to banks and ATMs, and airlines or other public transportation.
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Argentina
By Larry Habegger | Permalink |
No Comments | December 4th, 2001 | Trackback
Now in its fourth year of recession, Argentina is on the brink of economic collapse and its citizens in near panic as they have swarmed banks trying to withdraw their money before it loses value. To stop the run on banks and to prevent their collapse, the government imposed a $250 weekly limit on the amount of cash that can be withdrawn for the next 90 days. Steps have been taken that may lead to the U.S. dollar replacing the local currency, a move that could see the dollar become the de facto currency of all of Latin America in the years to come. As the immediate period of uncertainty unfolds, protests could erupt and widespread demonstrations are possible.
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