Abstract

This paper analyzes the recent evolution of the monetary and financial system of Argentine economy, particularly from the implementation of “Plano Austral”, on June 15, 1985. The finan-cial 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. Accor-ding 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.