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from | Encarta |  |
Argentina’s Financial Crisis |
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| Argentines protest against the “pesofication” of their savings outside a bank in Buenos Aries in April 2002. A financial crisis beset Argentina after the government froze bank accounts in December 2001 to stem the flow of capital from the banking system. The peso was devalued by 30 per cent following Argentina’s default on its debt payment to the International Monetary Fund in January 2002. | ||||||
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| Reuters NewMedia Inc/Corbis | ||||||
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| Argentina | ||||||
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