IMF explains peso appreciation in the 90’s
A study by the IMF uncovers the reasons behind the appreciation of the peso in the final decade of the 20th century.
In spite of the 1995 crisis, in which the real exchange rate briefly depreciated as a result of a sudden halt in loans from abroad, between 1988 and 2002 the peso appreciated by 40%. Episodes of appreciation have been observed in several South American nations in the past and in all these cases, including Mexico, the appreciation has coincided with a period of financial
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