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The collapse of Argentina Economy: Explained econ Argentina is in chaos. Argentina was once the world’s wealthiest country in the late 19th century, and its GDP had grown at an annual rate of 6%, …More
The collapse of Argentina Economy: Explained econ
Argentina is in chaos. Argentina was once the world’s wealthiest country in the late 19th century, and its GDP had grown at an annual rate of 6%, the fastest recorded in the world. But today, Argentina's economy is in shambles. The country has the highest inflation in the world, making food and medicine inaccessible to most Argentinians. That’s because, since 1975, Argentina has experienced higher inflation. The country has defaulted on not one but nine debts in history. These conditions have sparked months of chaos and riots against governments. And it’s easy to see why: the country has an incompetent political leadership and a succession of economically illiterate populists.