Lorenzo Juan Sigaut (born 6 June 1933) is an Argentine economist. Lorenzo Sigaut

Minister of Economy

He served as

Minister of Economy of Argentina The Ministry of Economy () of Argentina is the country's state treasury and a ministry of the national executive power that manages economic policy. The Ministry of Economy is one of the oldest ministries in the Argentine government, having e ...

from April to December 1981, during the dictatorship of

Roberto Eduardo Viola Roberto Eduardo Viola (13 October 1924 – 30 September 1994) was an Argentine military officer who served as the 43rd President of Argentina and the 2nd President of the National Reorganization Process from 29 March to 11 December 1981 as a m ...

.''La nueva política económica argentina se basa en la modificación del esquema de cambios de la moneda. Según Lorenzo Sigaut, el nuevo ministro de Economía ''
El País, reproducción del artículo publicado el 8 de abril de 1981. His term in office was marked by high

inflation In economics, inflation is an increase in the average price of goods and services in terms of money. This increase is measured using a price index, typically a consumer price index (CPI). When the general price level rises, each unit of curre ...

external debt A country's gross external debt (or foreign debt) is the liabilities that are owed to nonresidents by residents. The debtors can be government, governments, corporation, corporations or citizens. External debt may be denominated in domestic or f ...

crisis and

capital flight Capital flight, in economics, is the rapid flow of assets or money out of a country, due to an event of economic consequence or as the result of a political event such as regime change or economic globalization. Such events could be erratic or ...

, that provoked an

economic crisis A financial crisis is any of a broad variety of situations in which some financial assets suddenly lose a large part of their nominal value. In the 19th and early 20th centuries, many financial crises were associated with banking panics, and ma ...

which resulted in his replacement by

Roberto Alemann Roberto Alemann (December 22, 1922 – March 27, 2020) was an Argentine lawyer, economist, publisher, and academic. Twice Minister of Economy, he was also the Argentine ambassador to the United States and director of the traditional Argentine-Ge ...

. His infamous quote "Anybody who bets on the dollar will lose" (''El que apueste al dólar perderá''), referring to those who had savings in

United States dollars The United States dollar (Currency symbol, symbol: Dollar sign, $; ISO 4217, currency code: USD) is the official currency of the United States and International use of the U.S. dollar, several other countries. The Coinage Act of 1792 introdu ...

, became the laughing stock of Argentine economists for decades.

Bibliography

References

1933 births Argentine people of French descent Argentine economists Ministers of economy of Argentina Living people {{argentina-economist-stub