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The Argentine economic crisis (1999–2002) was a major downturn in Argentina's economy. It began in 1999 with a decrease of real Gross Domestic Product. The crisis caused the fall of the government, default on the country's foreign debt, widespread unemployment, riots, the rise of alternative currencies and the end of the peso's fixed exchange rate to the US dollar. By 2002 GDP growth had returned, surprising economists and the business media. As of 2012, the default had not been completely resolved, although the government had repaid its IMF loans in full. (via Freebase)