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| Presidency of Carlos Menem 10 December 1989 –21 December 1999 | |
Carlos Menem | |
| Party | Justicialist Party (PJ) |
| Election | 1989 • 1995 |
| Seat | Casa Rosada Quinta de Olivos |
 Standard of the president | |
Carlos Menem was president of Argentina from 1989 to 1999.
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| Presidency of Carlos Menem 10 December 1989 –21 December 1999 | |
Carlos Menem | |
| Party | Justicialist Party (PJ) |
| Election | 1989 • 1995 |
| Seat | Casa Rosada Quinta de Olivos |
| Standard of the president | |
Carlos Menem was president of Argentina from 1989 to 1999.
When Menem began his presidency,there was a huge hyperinflation and recession. The first measure was a mandatory conversion of time deposits into government bonds. It generated more recession,but hyperinflation was lowered. [1] Despite being a Peronist,Menem privatized several state-owned companies,such as telephones and airlines. One of the leading privatizations was YPF,engaged in the exploration and production of oil and gas. [2]
His fourth economy minister,Domingo Cavallo,deepened the neoliberal reforms. He proposed a Convertibility Plan that set a one-to-one fixed exchange rate between the Argentine peso and the US dollar. The law also limited public expenditures,but this was frequently ignored. [3]
A dramatic influx of foreign direct investment funds helped tame inflation (from 5,000% a year in 1989 to single digits by 1993) and improved long-stagnant productivity,though at the cost of considerable unemployment.
Menem's successful turnaround of the economy made the country one of the top performers in the world of the developing countries. Argentina's GDP (below 1973 levels when Menem took office) increased 35% from 1990 to 1994 and fixed investment,by 150%. [4] Negotiations with Brazil resulted in the Mercosur customs union in March 1991. On November 14 that year,Menem addressed a joint session of the U.S. Congress,one of only three Argentine presidents to do so (others were Raúl Alfonsín and Arturo Frondizi).
With these successes,Menem was reelected to the presidency by a large majority in the 1995 elections. The early success of the dollar peg (when the dollar was falling) was followed by increasing economic difficulties when the dollar began to rise from 1995 onwards in international markets. High external debt also caused increasing problems. Financial crises affecting other countries (the Tequila Crisis in Mexico,the East Asian financial crisis,the Russian financial crisis in 1998) led to higher interest rates for Argentina as well. By the end of Menem's term,Argentina's country risk premium was a low 6.10 percentage points above yield on comparable US Treasuries.
Menem began his presidency assuming a nonconfrontational approach,and appointing people from the conservative opposition and business people in his cabinet. [5]
Menem's presidency was initially bolstered by the significant economic recovery following Cavallo's appointment as Economy Minister. His Justicialist Party enjoyed victories in mid-term elections in 1991 and 1993,as well as in his 1995 campaign for reelection.
In domestic policy,his administration created programs to improve AIDS awareness,increased flood prevention,vaccination,and improved child nutrition. [6] In addition,his government launched a Social Plan [7] to increase spending on antipoverty programs,while other social programs addressed needs for poor Argentines. [8] These policies arguably had a positive impact on poverty reduction,with the percentage of Argentines estimated to be living in poverty falling during Menem's first term as president. [9] The Argentine quota law,proposed by the UCR,increased the number of women in the Argentine Congress.
In 1994,after a political agreement (the Olivos Pact) with the Radical Civic Union party leader,former president Raúl Alfonsín,Menem succeeded in having the Constitution modified to allow presidential re-election. He ran for office once again in 1995.
The new Constitution also introduced decisive checks and balances to presidential power. It made the Mayor of Buenos Aires an elective position (previously the office was designated for political appointees,who controlled a huge budget in the capital). The opposition candidate was elected as mayor in 1996. The president of the Central Bank and the Director of the AFIP (Federal Tax &Customs Central Agency),while political appointees,could be removed only with the approval of Congress. The new constitution created an ombudsman position,and a board to review and propose new judicial candidates.
The majority of the population criticized Menem's neoliberal policies,as did some in the Catholic Church. Opponents among unemployed workers developed the Piquetero movement. Some economists said his financial policies were anti-liberal. [10] These mounting problems and a rise in crime rates contributed to defeat for his party during the 1997 mid-term elections,the first time his administration faltered.
On 3 December 1990,Menem had ordered the forceful repression of a politically motivated uprising by a far-right figure,Col. Mohamed AlíSeineldín,ending the military's involvement in the country's political life.
Menem was strongly criticized for his pardon on 29 December 1990,of Jorge Videla,Emilio Massera,Leopoldo Galtieri and other men who had been leaders of the 1976–83 dictatorship responsible for government terrorism and the disappearance of an estimated 15,000 political prisoners. They were convicted in the 1985 Trial of the Juntas. He also pardoned some guerrilla leaders on the grounds of national reconciliation. Nearly 50,000 people gathered in protest in Buenos Aires. Former President Raúl Alfonsín called it "the saddest day in Argentine history." [11]
The president effected drastic cuts to the military budget,and appointed Lt. Gen. Martín Balza as the Army's General Chief of Staff (head of the military hierarchy). Balza,a man of strong democratic convictions and a vocal critic of the Falklands War,had stood up for the legitimate government in every attempted coup d'état throughout his senior career. He gave the first institutional self-criticism about the Armed Forces' involvement in the 1976 coup and the ensuing reign of terror. Following the brutal death of a conscript,Menem abolished conscription in 1994,decisively ending a military prerogative over society.
Carlos Menem Jr.,son of the president,died in a helicopter accident on 15 March 1995. He was 26 years old. His death remains a mystery,but his father and mother,Zulema Yoma de Menem,suspect he was murdered. Roberto Locles,a ballistics expert,believes that "Carlitos" died in an attempted assassination. [12]
Menem's government re-established relations with the United Kingdom,suspended since the Falklands War,within months of taking office. He also earned plaudits for resolving territorial disputes with neighboring Chile. His administration peacefully solved more than 20 border issues with Chile,including the arbitration of the especially serious Laguna del Desierto dispute.
Menem's tenure suffered most from local economic fallout due to the Mexican peso crisis of 1995. It became tainted by repeated accusations by opponents of corruption. Menem administration's handling of the investigations of the 1992 Israeli Embassy bombing and the 1994 bombing of the AMIA Jewish community center in Buenos Aires were criticised as being dishonest and superficial. He is suspected of diverting the investigation from clues suggesting Iranian involvement,to avoid engaging with that power over the attacks as well as covering for a family friend,Alberto Kanoore Edul,a Syrian-Argentine businessman suspected of involvement in the attacks. [13]
| Office | Holder |
| President | Carlos Menem |
| Vice President | Eduardo Duhalde (1989–91) Carlos Ruckauf (1995–99) |
| Chief of Ministers' Cabinet | Eduardo Bauzá (1995–96) Jorge Alberto Rodríguez (1996–99) |
| Ministry of the Interior | Eduardo Bauzá (1989–90) Julio Mera Figueroa (1990–91) JoséLuis Manzano (1991–92) Gustavo Béliz (1992–93) Carlos Ruckauf (1993–95) Carlos Corach (1995–99) |
| Ministry of Foreign Affairs | Domingo Cavallo (1989–91) Guido di Tella (1991–99) |
| Ministry of Defense | Ítalo Argentino Lúder (1989) Humberto Roggero (1989–90) Guido di Tella (1990–91) Antonio Erman González (1991–93) Oscar Camilión (1993–96) Jorge Domínguez (1996–99) |
| Ministry of the Economy | Miguel Ángel Roig (1989) Néstor Rapanelli (1989) Antonio Erman González (1989–91) Domingo Cavallo (1991–96) Roque Fernández (1996–99) |
| Ministry of Justice | Antonio Salonia (1989–91) León Arslanián (1991–92) Jorge Maiorano (1992–94) Rodolfo Barra (1994–96) Elías Jassán (1996–97) Raúl Granillo Ocampo (1997–99) |
| Ministry of Labor | Jorge Triaca (1989–91) Rodolfo Díaz (1991–92) Enrique Rodríguez (1992–93) JoséArmando Caro Figueroa (1993–97) Antonio Erman González (1997–99) |
| Ministry of Social Assistance and Public Health | Julio Corzo (1989–93) Antonio Erman González (1993) Eduardo Bauzá (1993–95) Alberto Kohan (1995–96) Avelino Porto (1996–98) Julio César Aráoz (1998) Alberto Mazza (1998–99) |
| Ministry of Education and Culture | Antonio Salonia (1989–92) Jorge Alberto Rodríguez (1992–96) Susana Decibe (1996–99) |
| Ministry of Public Services | Roberto Dromi (1989–91) |
Carlos Saúl Menem was an Argentine lawyer and politician who served as the President of Argentina from 1989 to 1999. Ideologically,he identified as a Peronist and supported economically liberal policies. He led Argentina as president during the 1990s and implemented a free market liberalization. He served as President of the Justicialist Party for thirteen years,and his political approach became known as Federal Peronism.
The politics of Argentina take place in the framework of what the Constitution defines as a federal presidential representative democratic republic,where the President of Argentina is both Head of State and Head of Government. Legislative power is vested in the two chambers of the Argentine National Congress. The Judiciary is independent,as well as the Executive and the Legislature. Elections take place regularly on a multi-party system.
Domingo Felipe Cavallo is an Argentine economist and politician. Between 1991 and 1996,he was the Minister of Economy during Carlos Menem's presidency. 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.
Eduardo Alberto Duhalde is an Argentine Peronist politician who served as the interim President of Argentina from January 2002 to May 2003. He also served as Vice President and Governor of Buenos Aires in the 1990s.
Fernando de la Rúa was an Argentine politician and a member of the Radical Civic Union (UCR) political party who served as President of Argentina from 10 December 1999 to 21 December 2001. De la Rúa was born in Córdoba;he entered politics after graduating with a degree in law. He was elected senator in 1973 and unsuccessfully ran for the office of Vice President as Ricardo Balbín's running mate the same year. He was re-elected senator in 1983 and 1993,and as deputy in 1991. He unsuccessfully opposed the pact of Olivos between President Carlos Menem and party leader Raúl Alfonsín,which enabled the 1994 amendment of the Argentine Constitution and the re-election of Menem in 1995.
Raúl Ricardo Alfonsín was an Argentine lawyer and statesman who served as President of Argentina from 10 December 1983 to 8 July 1989. He was the first democratically elected president after more than seven years of military dictatorship,and is considered the "father of modern democracy in Argentina". Ideologically,he identified as a radical and a social democrat,serving as the leader of the Radical Civic Union from 1983 to 1991,1993 to 1995,1999 to 2001,with his political approach being known as "Alfonsinism".
The Convertibility plan was a plan by the Argentine Currency Board that pegged the Argentine peso to the U.S. dollar between 1991 and 2002 in an attempt to eliminate hyperinflation and stimulate economic growth. While it initially met with considerable success,the board's actions ultimately failed. The peso was only pegged to the dollar until 2002.
The Olivos Pact refers to a series of documents signed on November 17,1993,between the governing President of Argentina,Carlos Menem,and former President and leader of the opposition UCR,Raúl Alfonsín,that formed the basis of the constitutional reform of 1994. These memorandum of understanding were signed in the official presidential residence,the Quinta de Olivos.
The Argentine general election of 1995 was held on 14 May. Voters chose both the President and their legislators and with a turnout of 82.1%.
Argentina held presidential elections on 24 October 1999. Legislative elections were held on four dates,8 August,12 September,26 September and 24 October,though most polls took place on 24 October.
The Argentine general election of 1989 was held on 14 May 1989. Voters chose both the President and their legislators and with a turnout of 85.3%,Carlos Menem won the presidency,and the peronist Justicialist Party won the control of both houses of Congress. This is the last presidential election the president was elected by the electoral college.
Argentina held national legislative elections on 26 October 1997. This election was the second time of the peronist Justicialist Party defeated since 1985,while Justicialist Party maintained control of the Congress.
The Argentine legislative elections of 1991 were held on four dates,11 August,8 September,27 October and 1 December,though most polls took place on 8 September. Voters chose their legislators and governors and,with a turnout of 80%.
The Argentine legislative elections of 1993 were held on 3 October. Voters chose their legislators and,with a turnout of 80.3%.
Horacio Massaccesi is an Argentine politician and former Governor of Río Negro Province.
Margarita Stolbizer is an Argentine lawyer and politician. Originally a member of the Radical Civic Union (UCR),she founded her own party,Generation for a National Encounter (GEN) in 2007. She has been a member of the Chamber of Deputies of Argentina on three occasions:from 1997 to 2005,from 2009 to 2017,and since 2021.
César Jaroslavsky was an Argentine politician prominent in the UCR,the country's oldest existing political party.
Javier González Fraga is an Argentine economist and businessman. He served as President of the Central Bank of Argentina from 1989 to 1991,and was nominated as running-mate by Ricardo Alfonsín for his 2011 campaign for the Presidency.
Fernando de la Rúa's tenure as president of Argentina began when he took office on 10 December 1999,and ended with his resignation on 21 December 2001 in the wake of the December 2001 crisis.
The BONEX Plan was a forced conversion of bank time deposits to Treasury bonds performed by the Argentine government in January 1990.
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