14/09/2020: Introduction of Currency Controls
Argentina tightens currency controls to stabilize the peso and prevent capital flight, imposing restrictions on foreign currency purchases and transfers, marking a significant shift in monetary policy.
01/04/2020: 50th Anniversary of the Paʻanga
Tonga celebrated the 50th anniversary of the introduction of the paʻanga as its national currency.
11/08/2019: Primary Elections and Peso Devaluation
Following the primary elections, uncertainty in the financial markets leads to a significant devaluation of the peso, causing economic turmoil and further exacerbating the country's financial difficulties.
09/12/2015: Change in Government
Mauricio Macri assumes the presidency, bringing in economic reforms and liberalization policies, impacting the exchange rate and the value of the Argentine peso.
29/07/2014: Second Devaluation of the Paʻanga
Another devaluation occurred, this time by 20%, as part of Tonga's economic reform program.
14/03/2008: Currency Redenomination
Tonga redenominated its currency, removing three zeros from the paʻanga to simplify monetary transactions.
16/11/2006: Riot and Currency Crisis
Civil unrest and riots erupted in Tonga, leading to a currency crisis and a temporary suspension of trading the paʻanga.
02/12/2001: Economic Crisis and Devaluation
Argentina faces a severe economic crisis, resulting in the devaluation of the peso, leading to a sharp decline in its value and triggering social and political unrest.
01/04/1991: First Devaluation of the Paʻanga
The paʻanga was devalued by 25% in an attempt to boost Tonga's economy and improve trade competitiveness.
31/03/1991: Introduction of Convertibility Plan
The Convertibility Plan is implemented, fixing the exchange rate between the Argentine peso and the US dollar on a one-to-one basis, as an attempt to control inflation.
06/01/1985: Introduction of Austral as a new currency
The Argentine government replaces the peso with the Austral as the new currency, aiming to stabilize the economy and tackle hyperinflation.
29/01/1983: End of the military dictatorship
After seven years of military rule, democratic elections are held in Argentina, leading to the end of the military dictatorship and the beginning of a period of economic and political transition.
04/06/1975: Independence of Tonga
Tonga gained full independence from the United Kingdom, further solidifying the status of the paʻanga as its national currency.
01/04/1967: Introduction of the Paʻanga
The Tongan paʻanga was introduced as the official currency, replacing the pound at a rate of 1 pound = 2 paʻanga.