Carlos Menem

Carlos Saúl Menem (born July 2, 1930) was President of Argentina from July 8, 1989 to December 10, 1999 for the Justicialist Party (Peronist).

Political career

He was elected governor of La Rioja in 1973, a prominent post that left him exposed after the overthrow of President Isabel Martínez de Perón in March 1976. He was imprisoned by the junta in Tandil, Buenos Aires, until 1981. In October 1983, with the collapse of military rule, Menem was elected once again as governor of La Rioja.

Related Topics:
1973 - Isabel Martínez de Perón - 1976 - Junta - 1981 - 1983

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

President

Campaigning as a maverick within his own party, he won the primary elections and was elected president in 1989, succeeding Raúl Alfonsín. His campaign was centered on vague promises of productive revolution and salariazo (jargon for big salary increases), aimed at the working class, the traditional constituents of the Peronist Party.

Related Topics:
1989 - Raúl Alfonsín - Working class - Peronist Party

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

His major problem was the economy, damaged by hyperinflation and recession. After a series of failed attempts, finance minister Domingo Cavallo introduced a series of reforms and linked the peso to the US dollar. Controversial privatization of utilities (including oil companies, the post office, electricity and water utilities) and a massive influx of foreign direct investment funds helped to tame inflation (from 5,000% a year in the late 1980s to virtually zero in the early 90s) and to improve the economy, but at the cost of considerable unemployment. In 1991 he helped to launch the Mercosur customs union.

Related Topics:
Hyperinflation - Recession - Domingo Cavallo - Linked the peso to the US dollar - Privatization - Foreign direct investment - Inflation - 1991 - Mercosur - Customs union

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

However, the early success of the dollar peg (when the dollar was falling) was followed by increasing economic difficulties when the dollar began to rise from 1995 onwards. High external debt also caused increasing problems as financial crises affecting other countries (Mexico, Asia, Russia) led to higher interest rates for Argentina as well. The dollar peg eventually proved unsustainable, despite massive loan support from the IMF, and had to be abandoned in 2001, with disastrous effects on the Argentinian economy.

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

Menem's rule became tainted with extreme accusations of corruption. His handling of the investigations of the 1992 Israeli Embassy Bombing 1994 bombing of the AMIA Jewish community center was often criticised as being dishonest and superficial. He's suspected of deviating the investigation from the Iranian clue, which would lead to the responsibility of that country in the attack.

Related Topics:
1992 - 1994 - AMIA

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

He pardoned Jorge Rafael Videla, Emilio Massera, Leopoldo Galtieri and other leaders of the 1976-1983 dictatorship, and some terrorist leaders as well. His government re-established relations with the United Kingdom, broken during the Falklands/Malvinas War, despite some previous comments about a bloody reconquest. Because he pardoned people involved with genocides he is considered a traitor.

Related Topics:
Jorge Rafael Videla - Emilio Massera - Leopoldo Galtieri - 1976 - 1983 - United Kingdom - Falklands/Malvinas War

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

Menem had the Constitution modified in 1994 to allow him to run for office once again in 1995.

Related Topics:
Constitution - 1994 - 1995

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

Continuing political career

His attempt to run for a third term in 1999 was unsuccessful, as it was ruled to be unconstitutional.

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

In the April 27, 2003, first round presidential election Menem won the greatest number of votes (25%) but failed to get the votes necessary to win an overall majority. A second-round run-off vote between Menem and Néstor Kirchner was scheduled for May 18, 2003. Being certain that he was about to face electoral defeat, Menem decided to withdraw his candidacy, thus automatically making Kirchner the new president.

Related Topics:
April 27 - 2003 - Presidential election - Néstor Kirchner - May 18

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

In June 2004 Menem announced that he had founded a new faction within the Justicialist Party, called People's Peronism. He has stated his ambition to run in the 2007 election.

Related Topics:
2004 - 2007

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

In 2005, the press reported that he is trying to make an alliance with his ex-Minister of Economy Domingo Cavallo to fight in 2005's parlamentary elections.

Related Topics:
2005 - Domingo Cavallo

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

Corruption charges

On June 7, 2001, Menem was arrested over an arms export scandal relating to exports to Ecuador and Croatia in 1991 and 1996, and remained under house arrest until November. He appeared before a judge in late August 2002 and denied all charges. It was hinted that Menem held more than USD $10 million in Swiss bank accounts. However, the Swiss banks and authorities denied these allegations.

Related Topics:
June 7 - 2001 - 1991 - 1996 - 2002 - USD - Swiss

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

Menem and his second wife Bolocco, who had had a child since their marriage in 2001, moved to Chile. Argentine's justice repeatedly requested Menem's extradition to face embezzlement charges, but this was rejected by the Chilean Supreme Court, as under Chilean law people cannot be extradited for questioning.

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

On December 22, 2004, he returned to Argentina after his arrest warrants were cancelled. He still faces charges of embezzlement and failing to declare illegal funds outside of Argentina, but despite this he has stated his ambition to run in the 2007 election.

Related Topics:
December 22 - 2007

~ ~ ~ ~ ~ ~ ~ ~ ~ ~