The 2001 Argentine Crisis: Corralito and the Fall of De la Rúa

In December 2001, Argentina collapsed into its worst political and economic crisis in decades. After three years of recession and a currency board that pegged the peso to the dollar, the government of Fernando de la Rúa imposed the corralito—a freeze on bank withdrawals that trapped millions of ordinary savers. This episode traces the roots of the crisis back to the Convertibility Plan of 1991, explores the IMF's role, and recounts the explosive protests, the deaths in Plaza de Mayo, and the fall of five presidents in two weeks. We discuss the neoliberal reforms of Carlos Menem, the role of Economy Minister Domingo Cavallo, and the legacy of the crisis in Argentine memory. No earlier episode has covered the 2001 collapse, making this a fresh look at a defining moment of Argentina's modern history.

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