Financial and Political Crisis in Argentina: Walking a Wobbly Tightrope

摘要

Since December 2001, two months and five presidents have come and gone with no political stability in sight for Argentina. Argentina touted itself as the United States' closest ally in Latin America during the 1990s, closely following the U.S. lead in world affairs. It also was one of the strongest advocates in Latin America of U.S.- and IMF (International Monetary Fund)-sponsored neoliberal economic policies. Argentina's support for U.S. foreign policy objectives was rewarded with increased U.S. diplomatic and military recognition and billions of dollars in foreign investment during the 1990s. A bitter four-year recession, however, led to increasing popular protests against the government of President Fernando de la Rua, who was forced to step down this past December, half-way through his four-year presidential term. An interim president, Adolfo Rodriguez Saa, resigned after a week in the face of continuing protests, and Eduardo Duhalde, one of the leaders of the opposition Peronist party, has stepped into the presidency-for the moment. (The other two presidents were place-holders drawn from the leadership of the Argentine congress. Each held the title for no more than a day or two.).