Economic history of Argentina reforms such as open trade. On 1 January 1992, a monetary reform replaced the austral with the peso at a rate of 10,000 australs for 1 peso. The cornerstone of the reform process was a currency board, under which the peso was fixed by law at par to the dollar, and the money supply restricted to the level of hard-currency reserves. A risky policy which meant at a later stage Argentina could not devalue. After a lag, inflation was tamed. With risk of devaluation apparently removed, capital poured in from abroad. GDP growth increased significantly and total employment rose steadily
Ethnic groups of Argentina largest Jewish urban centers in the world (see also History of the Jews in Argentina). There are 1,300,000–3,500,000 Argentines whose ancestry traces back to any of various waves of immigrants, largely of levantine cultural and linguistic heritage and/or identity. Most Levantine Argentines are from either Lebanese or Syrian background, originating mainly from what is now Lebanon and Syria. There are people from other Arabic speaking countries in lesser numbers. Most are Christians of the Eastern Orthodox and Eastern Catholic (Maronite) Churches. The first Levantines settled in Argentina in the 19th century, and most who came during this time period were