• Europeans arrive in the region with the voyage of Amerigo Vespucci.
  • Argentina declares independence from Spain.

  • The introduction of modern agriculture techniques and the integration of Argentina into the world economy, as well as foreign investment and immigration, lead to an economic revolution in the country. Argentina becomes one of the world’s ten wealthiest nations.
  • Amidst economic turmoil, inflation rises to more than 300%.

  • Argentine forces occupy the British-held Falkland Islands. In response, the United Kingdom sends a military force to re-take the islands.

  • The peso, which is pegged to the U.S. dollar, is introduced as Argentina's new national currency.

  • The IMF grants Argentina an aid package of $40 billion, as Argentina's economy struggles due to a decline in beef and soy exports.

  • Shortly after the new year, the government elects to devalue the peso, ending 10 years of parity with the U.S. dollar.

  • In April, banking and foreign exchange activity are suspended; Argentina's financial system is in danger of collapsing.

  • In November, Argentina defaults on an $800 million debt repayment to the World Bank. The World Bank refuses to offer additional loans.

  • The worst drought in decades cripples the agriculture sector. The government declares a state of emergency.

  • Argentina is the first country to be censured by the International Monetary Fund for not providing accurate data on inflation and economic growth. 

  • Interest rates rise drastically as the government works to shore up the falling value of the peso, resulting in the economy's slide into recession. 


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