Stabilization Plan

安定化計画　—　Institutions

1959, a turning point that devalued the currency to a single rate of sixty pesetas to the dollar and opened up trade and foreign investment.

In 1959, the economic stabilization plan implemented by Spain under an agreement with the IMF and OEEC. It devalued the currency to a single rate of sixty pesetas to the dollar and opened up trade and foreign investment.

⚠ The exit from a closed economy often passes through the gate of currency devaluation.