The salient features of the successful strategy were the statutory pegging of the peso to the US dollar at a rate of 1:1, deregulation, privatisation and the introduction of competition into economic life. Argentina has left the period of hyperinflation (1989: almost 5,000 %) far behind it.
9  Therefore, investment funds are highly concentrated in fixed income and liquid assets. On the issuers' side, weak corporate governance still prevails in addition to slow public placement processes.