Eric Worcester Architecture

33 Flatbush Ave, 6th Flr,

Brooklyn, NY, USA 11238

Tel 917-691-5703

eric @ e-w-a.net

EWA 2019

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The Fall of Argentina
Status: Drawing Cycle, realized in 2002
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Medium: ink and pencil on mylar
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In an effort to undo a decade of hyperinflationary chaos, culminating in the street riots of the late 1980's, Argentina embarked on a new economic plan which involved the adoption of an economic model promising efficiency and growth without the wealth destroying effects of rapid inflation.  By 1998, Argentina was in recession again, the government deficit rising as it borrowed more to maintain its level of spending while its tax revenues shrunk and delinquencies rose.  On December 12, 2001, Argentina defaulted on loans to its creditors- a sovereign nation had declared itself bankrupt.

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