Domingo Cavallo
Argentine economist and politician · Argentina · On the map · Academics · Born 1946 · age 80
Domingo Felipe Cavallo is an Argentine economist and politician. Between 1991 and 1996, he was the Minister of Economy during Carlos Menem's presidency.
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Cavallo was Argentine Congressman, President of Central Bank and Minister of Economy two times.
Cavallo with George H. W. Bush and Terence Todman in the Casa Rosada![Productivity per hour worked between 1991 and 1996 increased by 117%. More than any other country on any 5-year period since the start of the series in 1950.[2]](https://upload.wikimedia.org/wikipedia/commons/thumb/f/f2/Productivity_per_hour_worked.png/500px-Productivity_per_hour_worked.png?utm_source=en.wikipedia.org&utm_campaign=parser&utm_content=thumbnail)
Productivity per hour worked between 1991 and 1996 increased by 117%. More than any other country on any 5-year period since the start of the series in 1950.[2]
Cavallo, candidate for president in 1999
de la Rúa and his Minister, in March 2001
Susana Malcorra met with former Foreign Relations Ministers, including Cavallo.Awards
About this person
He is known for implementing the convertibility plan, which established a pseudo-currency board with the United States dollar and allowed the dollar to be used for legal contracts. This brought the inflation rate down from over 1,300% in 1990 to less than 20% in 1992 and nearly to zero during the rest of the 1990s. He implemented pro-market reforms which included privatizations of state enterprises. Productivity per hour worked during his five-years as minister of Menem increased by more than 100%. In 2001, he was the economy minister for nine months during the 1998-2002 Argentine great depression. During a bank run, he implemented a restriction on cash withdrawing, known as corralito. This was followed by the December 2001 riots in Argentina and the fall of Fernando de la Rúa as president.
