Argentina: History

1502 Europeans arrive in the region with the voyage of Amerigo Vespucci.

1816

Argentina declares independence from Spain.

Late 19th Century 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.

1975

Amidst economic turmoil, inflation rises to more than 300%.

1982

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

1992

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

2000

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

2002

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

2002

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

2002

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

2009

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

2013

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

2018

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.