Argentina is a country in southeastern South America. It is the eighth-largest country in the world. Its capital and largest city is Buenos Aires.
Argentina is a federal republic and the second largest Spanish-speaking country in the world. It also has the second largest economy in South America and is a founding member of the UN, WTO and Mercosur, among other international bodies. It is a country rich in natural resources and hosts a wide diversity of industries. This page collates recent DW content on Argentina.
Argentina's economy is at rock bottom. So far, President Mauricio Macri has failed to reduce the country's vast budget deficit and boost competitiveness. The increase in interest rates in the US saw many investors withdraw capital from emerging economies - another blow to Argentina. Although it's had financial aid from the IMF, inflation is still soaring.
The Argentinian government took a record $56 billion dollar credit from the International Monetary Fund last year to bolster its ailing economy. It had to agree to IMF's fiscal targets to get the bailout loan. That means Argentina needs to exploit all its resources, including exports of its main cash crop soy for which the outlook isn’t great.
Argentinian President Macri had promised to end poverty, but his country is now experiencing an economic crisis. Macri says former President Cristina de Kirchner is to blame for the state of the economy. He has asked the International Monetary Fund to step in. But the IMF bailout came with some tough conditions - austerity measures. Poverty is now rising in the country.
G20 host Argentina finds itself in a deep economic crisis. The budget deficit last year was almost 4 percent of economic output and inflation rose to around 20 percent in July. More and more Argentinians are living below the poverty line and small businesses can hardly survive.