Recall Application 4, "The Argentine Financial Crisis," to answer the question below:
-The Argentine financial crisis of 2002 occurred because:

Question

Quizplus · Accepted Answer

The Argentine financial crisis of 2002 occurred because the Argentine peso was pegged to the sharply appreciating U.S. dollar, leading to an overvaluation of the peso and making Argentine exports less competitive in the global market. This, along with a series of other economic and political factors, led to a severe recession and debt default.

Recall Application 4, "The Argentine Financial Crisis," to Answer the Question