Economy of Argentina

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The economy of Argentina is the second-largest in South America, behind Brazil. The United Nations' Human Development Index ranks Argentina "very high," reflecting a literate population, export-oriented agriculture, and diversified industry. Under President Javier Milei, the country is a market economy, differing from the Peronist model earlier. The economy has rich natural resources; however, its performance has been volatile—growth spurts alternate with recessions—especially since the late 20th century, driving income inequality and poverty. Early in the 20th century, Argentina's per capita GDP ranked among the top 10 globally, at par with Canada and Australia and ahead of France and Italy. The Argentine peso lost ~50% of its value in 2018 because of hyperinflation (falling from ~18–20 to >38 pesos per U.S. dollar), prompting an IMF stand-by program. It fell another 25% in 2019, 90% in 2020, 68% in 2021, and 50% in 2022, 54% in 2023, 30% in 2024, before rising in 2025. The FTSE Global...

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