Menem, a lawyer from a Syrian immigrant family, entered politics early and served as governor of La Rioja in her 40s. After the presidential election in 1989, the privatization of state-owned enterprises, the abolition of price control policies, and the introduction of a’peg system’ that fixed the dollar-to-peso exchange rate at one-to-one, alleviated inflation in Argentina. Inflation, which reached 5000% a year, fell to a single digit in 1993. Diplomatically, it strengthened relations with the United States and revived diplomatic relations with Britain, which had been cut off after the Falkland War in 1982. Having succeeded in re-election, he held office for 10 years until 1999.
However, the policies introduced at this time became the’seeds’ of the debt crisis. In the second half of the rule, the gap between the rich and the poor widened and the unemployment rate soared. It was not possible to flexibly respond to changes in the global economy by fixing the exchange rate. The economic crisis, which intensified from the second half of the rule, eventually led to a massive default (default) in 2001. Former President Menem was caught in an embezzlement and corruption scandal and was suspicious of illegal arms exports. He ran for the presidential election in 2003, but failed and has been a senator since 2005. In 2001, at the age of 70, she married a 35-year-old Chilean woman from Miss Universe and divorced 10 years later. In 1995, the president of Argentina visited Korea for the first time, and met former President Kim Young-sam. Reporter [email protected]Go to reporter page>
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