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Puerto Madero business complex in Buenos Aires CBD

The economy of Argentina is South America's second-largest, behind Brazil. The United Nations' Human Development Index ranks Argentina "very high," reflecting a literate population, export-oriented agriculture, and diversified industry. Rich natural resources underpin the economy, although performance has been volatile – growth spurts alternate with recessions—especially since the late 20th century—driving income inequality and poverty. Early in that century, Argentina's per capita GDP ranked among the global top ten, matching Canada and Australia while exceeding France and Italy. The Argentine peso lost ~50% of its value in 2018 (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 Equity Index (2018) listed Argentina as an emerging market and G20 member. Prolonged capital controls led MSCI to reclassify it as a standalone market in 2021. (Full article...)

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