In 2001, Argentina was in the midst of an economic depression going on its third year. Unemployment rates were over 20%, and political instability and riots were fracturing the fabric of the country. Within a span of two weeks, the country saw five people hold the office of the president, while rampant hunger and looting occurred throughout the nation. The country had seen great economic growth throughout the 1990s, but by the end of the decade, this growth came crashing to a halt. Following failed austerity measures and the instability in the country, Argentina stopped payments on its debt, which at over $100 billion was the biggest default ever seen in the world.