The Argentine Government announced on television on Monday night, March 4, 2002 that it would launch several economic measures that would retain social programs and "launch a new economic cycle," according to the BBC News. The unexpected announcement came as International Monetary Fund officials arrived in Buenos Aires on Tuesday, for talks seen as crucial for the resumption of suspended aid. The measures include new taxes on exports - with the money being earmarked for social programs - and half-a-billion dollars in loans for manufacturers and producers. The government is also offering savers whose deposits were frozen a chance to exchange the deposits for dollar-denominated or peso-denominated bonds.

News Stories:

"Duhalde justificó la decision de aplicar retenciones a las exportaciones,"
La Nación (Buenos Aires), March 5, 2002

"Argentine Exporters Decry Tax, See 8% Drop In Exports,"
Dow Jones, March 5, 2002

"Argentina acts to ease economic crisis,"
BBC News, March 5, 2002

"Hard-Pressed Argentina to Tax All Exports,"
The New York Times, March 4, 2002