vention ism ▁( including ▁control ▁of ▁r ents ▁and ▁prices ) ▁and ▁higher ▁levels ▁of ▁public ▁in version , ▁mainly ▁fin anced ▁by ▁the ▁infl ation ary ▁tax . ▁The ▁exp ans ive ▁macro e conom ic ▁policy , ▁which ▁aim ed ▁at ▁the ▁red ist ribution ▁of ▁wealth ▁and ▁the ▁increase ▁of ▁sp ending ▁to ▁fin ance ▁popul ist ▁policies , ▁led ▁to ▁infl ation . ▁ ▁W art ime ▁res erves ▁enabled ▁the ▁Per on ist ▁government ▁to ▁fully ▁pay ▁off ▁the ▁external ▁deb t ▁in ▁ 1 9 5 2 ; ▁by ▁the ▁end ▁of ▁the ▁year , ▁Argentina ▁became ▁cred itor ▁of ▁US $ 5 , 0 0 0 , 0 0 0 , 0 0 0 . ▁Between ▁ 1 9 4 6 ▁and ▁ 1 9 4 8 , ▁the ▁French ▁and ▁British - owned ▁rail ways ▁were ▁national ized , ▁and ▁the ▁existing ▁networks ▁were ▁expanded , ▁reaching ▁ 1 2 0   0 0 0 ▁kilom eters ▁of ▁rails ▁by ▁ 1 9 5 4 . ▁The ▁government ▁also ▁established ▁the ▁I API ▁to ▁control ▁the ▁foreign ▁trade ▁in ▁export ▁comm od ities . ▁Per ón ▁ere cted ▁a ▁system ▁of ▁almost ▁complete ▁protection ▁against ▁imports , ▁largely ▁cutting ▁off ▁Argentina ▁from ▁the ▁international ▁market . ▁In ▁ 1 9 4 7 , ▁he ▁announced ▁his ▁first ▁Five - Year ▁Plan ▁based ▁on ▁growth ▁of ▁national ized ▁indust ries . ▁Prote ction ism ▁also ▁created ▁a ▁dom est ically ▁orient ed ▁industry ▁with ▁high ▁production