. He was
President of Argentina appointed by the
military junta from July 1982 to December 1983, when
democracy returned to
Argentina. Uncomfortable with the
media, Bignone's press statements left doubts as to whether there would be an imminent call for
elections. His loosening of certain
free speech restrictions also put his regime's unpopularity in evidence and the newsstands brimmed with
satirical publications.
Humor had its January 1983 issue confiscated after
Army Chief of Staff General
Cristino Nicolaides objected to caricaturist
Andrés Cascioli's portrayals of the junta.
Economic policy Bignone chose
Domingo Cavallo to head the
Argentine Central Bank and
Jose Maria Dagnino Pastore a liberal as Economy Minister. While Pastore was a liberal, he wanted to move away from
free market economic policies and wanted to adopt
protectionist economic policies like it was at the time of
Ramón Castillo,
Arturo Rawson,
Pedro Pablo Ramírez and
Edelmiro Julián Farrell. Cavallo inherited a foreign debt installment guarantee program that shielded billions of private debt from the collapse of the peso, costing the treasury billions. He instituted controls over the facility, such as the
indexation of payments, but this move and the rescission of
Circular 1050 threw the banking sector against him; Cavallo and Dagnino Pastore were replaced in August. Bignone's new president of the Central Bank, Julio González del Solar, undid many of these controls, transferring billions more in private foreign debt to the Central Bank, though he stopped short of reinstating the hated "1050." Six years of intermittent wage freezes had left real wages close to 40% lower than during Perón's tenure, leading to growing labor unrest. Bignone's decision to restore limited rights of speech and assembly, including the right to strike, led to increased strike activity.
Saúl Ubaldini, the new leader of the reinstated
CGT, Argentina's largest labor union, was particularly active. Bignone's new Economy Minister,
Jorge Wehbe, a banking executive with previous experience in the post, reluctantly granted two large, mandatory wage increases in late 1982. On September 13, 1982, Economy Minister Jorge Wehbe launched a "
price controls" that "put the products of 675 companies under government control" due to "the need to "protect real wages," threatened by a "monopolistic industrial structure." Calls for immediate elections led, likewise, to frequent demonstrations at the President's executive offices, the
Casa Rosada. One such protest, on 16 December, led to the death of a demonstrator. Careful to avoid the appearance of endorsement of any one candidate (a mistake made by a previous dictator, General
Pedro Aramburu, in 1958), Bignone oversaw the shredding of documents and other face-saving measures, such as generous new wage guidelines. The economy, which had contracted by around 12% in the eighteen months before he took office, managed a recovery of around 4% during Bignone's eighteen-month term. Following a brief, though intense campaign and tight polls,
election night resulted in a 12-point margin for the UCR's Alfonsín over Justicialist nominee
Ítalo Lúder. Tied to repressive measures he signed in 1975, he could not avoid suspicion of a gentleman's agreement with Bignone for the sake of preventing future investigations. ==Later life==