Abstract

This paper analyzes the recent evolution of the monetary and financial system of
the Argentine economy, particularly from the implementation of “Plano Austral”, on June
15, 1985. The financial system is presented through a long-term perspective, as a result of
two financial reforms (1977 and 1982) whose principal features have determined the present
fragile situation. The monetary system is analyzed through the behaviour of the principal
monetary aggregations particularly observing the case of the evolution of different kinds of
actives in the hands of the people. According to the author, the initial impact of the stabilization
plan (‘’Plano Austral”) had two elements that were emphasized: the increasing of the
demand for monetary resources, and the reduction of the fiscal deficit.

JEL Classification: F34; E31; E52.