What was the Plan Bonex implemented by the Argentine government in December 1989?
Answer and explanation
Correct answer: B. The compulsory conversion of fixed-term bank deposits into ten-year
- Step 1: Enacted under President Menem and Minister Erman González to stop hyperinflation. Step 2. It drastically reduced liquidity by seizing bank deposits in exchange for Bonex 89 bonds. Answer: The compulsory conversion of fixed-term bank deposits into ten-year. Why not the others: It paved the way for the subsequent monetary reforms of the Convertibility Plan.
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