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Argentina Through The Years Argentina lies between the Andes and the Atlantic Chile bound her history on the west on the north by Bolivia and Paraguay and on the east by Paraguay Uruguay and the Atlantic Ocean Its total area is about 2951000 square kilometers Argentinas debt crisis can be studied as a problem in epidemiology This is a powerful virus that can be the results of high world interest rates This devastating effect affected many developing countries in the 80s Some countries succumbed to the virus having to reschedule their debts on emergency treatments Some recovered suffering to enter a period of quiet convalescence while others are still suffering from seizures in the IMFs intensive care unit It is important to understand why some countries fell to the debt crisis while others did not Chaotic government finances and the consequent resort to printing money have been at the heart of Argentinas problems Although the public-sector deficit was much reduced in 1982-86 the improvement stopped there The printing of money to cover the deficit was temporarily suspended As a result the central banks deficit became a key part of the overall public deficit To finance its deficits the government issued bonds which both inflated the domestic debt and pushed up interest rates During the 80s Argentinas current account was consistently in deficit because of heavy interest obligations on external dept The books were balanced only by successive rounds of rescheduling and the accumulations of arrears Economist Intelligence Unit 10 By this Its very clear that the conditions of being behind in fulfilling payments will destroy Argentinas economy Fortunately 1990 was an exceptional in that current- accounts surplus was obtained because of an extremely large trade surplus Debt represent a significant hurtle for developing nations as they continues to strive for economic progress and independence Argentinas Gross National Product was 323455 million Exports are the resource most countries relies upon Argentina to strive
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