When I was there in 1994 it was strange how the peso was locked to the US dollar. People could only drive old cars.
https://www.aljazeera.com/economy/20...nd-its-culture
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In the 1990s, the peso was pegged to the dollar by the government of then-President Carlos Menem in an attempt to stifle inflation. It was far from painless. The dollar peg battered exports, forcing the government to take on more debt to keep it afloat as an economic crisis worsened.
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