Second largest country in South America, Argentina is traditionally considered an exceptional instance: the country was among the richest ones in the world at the beginning of the 20th century, but it gradually lost this place of privilege. Historical volatility of economic growth and the accumulation of institutional obstacles have impeded the country’s development; notwithstanding, Argentina, having vast natural resources in energy and agriculture, places itself among the largest economies in Latin America.
The nation claims sovereignty over several islands off its coast, the best known being the Falklands (called Malvinas by Argentina), and on a vast part of resource-rich Antarctica (not recognized by other countries, except partially by Chile). The Falklands islands will likely be more important for the Argentine government to survive the economic and social fallout of a recession, compounded by the global pandemic, whose consequences are worrying the IMF.
This is a watershed moment in the life of the country: there is a greater number of individuals of working age who therefore maintain a relative lower number of elderly and young dependents. Efforts are being made to minimize poverty indices with massive investments in public health, education and in the creation of a “healthy” labor market, thus allowing the formation of a substantial mass of the population of working age that feeds the pension system. Significant progress is also being made in the field of human rights.
The future of Argentina will depend on how the country will be able to take advantage of the crisis to revive its fortunes.
