In May 1999, President Menem resigned from a new term. The opposition Alliance, the Radical Party and the center-left, appointed Fernando De la Rúa, of the UCR, as their presidential candidate, who won in October 1999. The economic and social situation continued to seriously deteriorate. Argentina was affected by the international financial crisis, and by that of Brazil, its first commercial partner within Mercosur. The government presented in January 2001 an austerity plan rejected by the deputies. This led to the resignation of several ministers and the breakdown of the ruling coalition. Faced with the massive flight of capital, the government ordered the freezing of bank deposits (a measure popularly known as the corralito), which culminated in a generalized social crisis that led to the resignation of the president on December 20, 2001. After several presidents succeeded each other, the crisis culminated on January 2, 2002 with the election by the Legislative Assembly of Eduardo Duhalde, from the Justicialista Party, as provisional president.
Through a strong devaluation of the local currency, the country began to implement a new industrialization policy based on import substitution, increased exports and a fiscal surplus. Towards the end of 2002, the economy began to stabilize.
Kirchner’s rise to the presidency
Argentine president from 2003 to 2007, the year in which he handed power over to his wife Cristina Fernández de Kirchner, elected president in the elections that same year.
In the presidential elections of 2003, outgoing President and concurrent old enemy of Carlos Menem, who sought a third term despite serious legal problems, supported the other Peronist candidate Nestor Kirchner. Former Peronist president Carlos Menem, well back in the first round, threw in the towel, and his withdrawal from the presidential race rendered the second round of the presidential election meaningless.
Days before taking the oath as president, Kirchner unveiled his ministerial portfolio, in which he maintained four ministers from the previous government, including the head of economy Roberto Lavagna, and included politicians of his absolute confidence, mostly justicialists and some independent. The new team stood out for a common denominator in its composition: young politicians (between 43 and 53 years old), outside the traditional circles of power and bearers of a vision of the State far removed from the neoconservatism that had ruled the country in recent years. [16] The priorities of the Kirchner government were human rights, the fight against corruption and the review of neoliberal economic policies, which had contributed to the ruin of the country and the impoverishment of millions of Argentines. Internally, his government strategy was based on the “transversal” project, consisting of extra-party alliances with political leaders in order to combat caudillismo and the Taifa kingdoms of the old Peronism, and on the affirmation of the institutions of the State and the civil authority. Kirchner undertook a foreign policy independent of US guidelines, reestablishing relations with Cuba, refusing to send troops to Iraq without a favorable UN mandate.and opposing the policy of US agricultural subsidies as well as its claim to extend the FTAA. [16]
After taking the country out of the default, considered the largest in world economic history, one of the greatest successes of the government was the renegotiation of the foreign debt with the IMF and other financial organizations, carried out on hitherto unprecedented terms. The debt with private creditors amounted to 81.8 billion dollars, of which, between January and February 2005, 62.2 billion were exchanged, that is, 76 percent of the total debt, with a reduction of 27.7 billion over the value. nominal of it. It was the largest swap procedure and the highest debit from creditors in economic history.
In January 2006, as a country located in South America according to PHILOSOPHYNEARBY.COM, the Argentine government paid in advance the total debt with the IMF, which amounted to 9.53 billion dollars, drawing on the reserves of the Central Bank, which at that time totaled more than 28.8 billion. The economy was primarily agriculture, industry, construction, and the financial sector, an increase that was accompanied by the boost in private investment. The re-activation in turn drove the recovery of the labor market: the number of hired workers increased especially in the growth-driving activity, construction, followed by the metallurgical industry, hotels and real estate services. [16]
Cristina Fernández in power
After making public his decision not to run for presidential reelection, Néstor Kirchner gave his position as candidate to his wife, Cristina Fernández de Kirchner, who won the presidential elections on October 28, 2007, being the first woman elected by popular vote in the history of the country. The initial guidelines of the government of Cristina Fernández de Kirchner were aimed at strengthening institutions, improving international relations and favoring the growth of the economy on the basis of increased consumption of the popular sectors.At the international level, Argentina was invited to attend participate in the G20 summit, which brought together the seven major world powers and emerging countries to face the international economic crisis unleashed in 2008.
He faced this crisis with a series of measures, boosting the automotive industry and giving loans to workers, social plans such as the Universal Child Allowance and companies. [17]
Cristina was re-elected for a second four-year term on October 23, 2011, surpassing 54% of the votes. Under his government, the previously privatized Yacimiento Petroliferos Fiscales, the largest company in the country, was recovered, obtaining the bill the highest approval in Congress since 2003. [18] His administration, together with the other Latin American governments, strongly condemned the coup of parliamentary status that occurred in Paraguay on June 22, 2012. [19]
Elections 2015
After several months of intense electoral campaign, marked by polarization and manipulations of the private media, the first round of the general elections was held on October 25, 2015, in which the candidate of the Frente para la Victoria (FPV) Daniel Scioli obtained 37.08 percent of the votes, while his opponent, the opposition and right-wing Mauricio Macri from the Alianza Cambiemos garnered 34.15 percentage points of the vote [20] .
The second round took place on November 22, with Mauricio Macri winning with 51.58% of the votes and 48.42% for Daniel Scioli, ending the streak of three consecutive victories for the Frente para la Victoria, the match that He took Néstor Kirchner to the Casa Rosada in 2003 and that began a stage of social transformation continued by Cristina Fernández [21] .
