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Greece · Economy & Business · Hard
What was the name of the currency stabilization policy adopted in the mid-1980s that pegged the drachma to a basket of currencies and restricted credit expansion?
Answer: stabilisation programme — The 1985-1987 stabilisation programme under Prime Minister Papandreou included a 15% devaluation of the drachma, wage freezes, and tight monetary policy to curb inflation and the current account deficit.
- A Washington Consensus
- B Plaza Accord
- C stabilisation programme ✓
- D Bretton Woods
The 1985-1987 stabilisation programme under Prime Minister Papandreou included a 15% devaluation of the drachma, wage freezes, and tight monetary policy to curb inflation and the current account deficit.