Argentina takes proactive steps to protect against economic instability.

SOURCE: chinaview.cn—“Argentina announces new measures to stabilize economy"

Concerned about the possibility of a financial crisis similar to that experienced in 2001-2002, Argentina announced protective measure to ensure a stable economy in January of the year.

Among the steps being taken are maintaining a stable exchange rate between the Argentine peso and the United States dollar, ensuring a trade surplus, engaging in necessary market interventions, and increasing its foreign exchange reserve to protect against the possibility of capital flight by investors.

Argentine President Christina Fernandez asserts that the nation is well-placed to weather the current global economic turbulence, despite reports that a recession in the United States could have an adverse affect on economies in South and Central America.

FOR DISCUSSION:

Do you think that the steps Argentina is taking will be enough to protect it from the global economic downturn?