An exchange rate of one-to-one with the dollar had been fixed by the law and every peso from the central bank was backed by a dollar of liquid assets like US treasury notes. ... Argentina needs a large scale international monetary aid and must develop an endurable economic plan in order to take proper fiscal and monetary measures to come out of the recession and the economic quagmire it has entrapped itself in. The IMF and US have set a number of conditions in order to enable Argentina to qualify for such international loans such as overhauling its tax system, fixing the problem of provincial ...

• Word Count: 506
• Approx Pages: 2
• Has Bibliography
• Grade Level: Graduate