Page 23 - (DK Eyewitness) Travel Guide - Argentina

A POR TR AIT OF ARGENTINA  21

too. In fact, the previous president,
Cristina Fernández de Kirchner, had
to place a “clamp” on the official dollar
exchange rate, while also restricting the
amount of dollars available to exporters
and for savings. Despite the ongoing
problems, Argentina remains one of
the biggest and most prestigious beef
exporters and wine producers in
the world, and tourism has emerged
as a flourishing source of income.
Politics
For the majority of Argentinians, the
political arena has been the source
of more drama and damage than the
Gaucho on an estancia near El Calafate, Patagonia worst trials and tribulations of the
economy. While there have always
Economy been caudillos (political­military
The Argentinian economy has dictators) in Argentina, almost all
experienced several booms and melt­ Argentinians view the generals who
downs in the past, and Argentinians have ran the country during the 1976–83
always kept a close watch on economic period as tyrants. However, national
fluctuations. In the late 1980s, only a few politics since the military dictatorship
years after the return of demo cracy, infla­ has been relatively stable and peaceful,
tion soared to 1,000 per cent. During and, while democracy has brought its
the presi dency of Carlos Menem in the own set of problems for Argentinians,
1990s, Argentinians thought a new era few would exchange today’s elected
had been ushered in: the peso was leaders for the dictators of the past.
pegged to the dollar, credit was available, Today, the country’s government is a
and people were able representative­demo­
to afford all kinds of cratic, federal, and presi­
luxuries. No one was dential one wherein the
pre pared for what hap­ presi dent is both the
pened in December head of state and head
2001, when a run on the of government,
banks caused the gov­ comple mented by a
ern ment to seques ter multiparty system. The
private savings, and country is divided into
eventually led to the a federal capital and 23
collapse of the peso. provinces. In late 2015,
Since then the economy Mauricio Macri won
has continued to the presidential
fluctuate. The election, introducing
government has twice sweeping economic
defaulted on billions of Cristina Fernández de Kirchner during the reforms and ending
dollars of International presidential elections 12 years of rule by
Monetary Fund loans, Cristina Fernández de
sending ripples through the economy. Kirchner, and her late husband, who pre­
Inflation has continued to be a problem ceded her as the president of Argentina.

018-023_EW_Argentina.indd 21 05/08/16 10:03 am