1、 https:/crsreports.congress.gov Updated June 15, 2020Argentinas Economic Crisis and DefaultIn 2018, the Argentine government faced numerous economic challenges: the unsustainable buildup of debt, rapid depreciation of its currency (the peso), economic contraction, and inflation. The government, head
2、ed at the time by center-right President Mario Macri, reluctantly turned to the International Monetary Fund (IMF) for financial assistance to avoid defaulting on its debt. After securing the largest IMF loan (in dollar terms) in the institutions history, economic conditions failed to improve. In the
3、 October 2019 elections, Mario Macri lost to the center-left Peronist ticket of Alberto Fernndez for president and former President Cristina Fernndez de Kirchner for vice president. The Peronist ticket campaigned on a reorientation of Argentine economic policies. After taking office, the Fernndez go
4、vernment implemented several economic reforms and entered debt restructuring negotiations with its bondholders, which remain ongoing. The COVID-19 pandemic and resulting economic turmoil further stressed Argentinas economy, and the government defaulted on its debt in May 2020. Economic Crisis in Arg
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