As economic conditions continued to deteriorate in Argentina by the end of 2001, banks suffered increasing runs. The government, fearing that the increasing financial drain on banks would cause their collapse, closed the banks for weeks.

Question

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This statement is true. During the financial crisis in Argentina in 2001, the government did close the banks for several weeks in an attempt to prevent their collapse. This further contributed to the economic instability and led to social unrest.

As Economic Conditions Continued to Deteriorate in Argentina by the End