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August 8th, 2002
The Empty ATM
Data: History, Money, and Argentina
Aug. 1998 Argentina’s worst recession in decade; unemployment hits 15 percent.
Dec. 2001 Default on $155 billion of debt — world’s largest. Pres. de la Rua resigns.
Jan. 2002 Peronist Eduardo Duhalde becomes interim president. Peso decoupled from dollar.
April 2002 Banking and currency operations stop.
June 2002 Police kill two in anti-IMF/govt. demonstration.
July 2002 Early elections called for March 2003..

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