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.
Its present rate of inflation is less than 1 %, and the economy has been restored to a sound path of growth despite the current downturn.