Resumen

STANLEY, Leonardo  y  LIBMAN, Emiliano. Goodbye Capital Controls, Hello IMF Loans, Welcome Back Financial Repression. Notes on Argentina's 2018/2019 Currency Crash. Ens. Econ. [online]. 2022, vol.32, n.60, pp.14-37.  Epub 28-Jul-2022. ISSN 0121-117X.  https://doi.org/10.15446/ede.v32n60.92592.

This article describes the Argentinean experience during the first two decades of the 21st century. After a successful recovery phase from the 2001 debt crisis, during 2011 Argentina adopted incorrect macroeconomic policies to avoid the contractionary and inflationary effects from a large depreciation of the currency, by implementing a strict system of restrictions on foreign exchange purchase and sale. The restrictions were lifted 4 years after their implementation, and during 2016-2017 Argentina drew heavily from international capital markets until the country suffered a sudden stop of capital flows.

JEL: F21; F32; F53.

Palabras clave : capital controls; Inflation Targeting; foreign exchange restrictions; currency crises; IMF programs; capital flow bonanzas.

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