Despite government freezes on many products and services, inflation in 2021 was the second-highest in 30 years.
The country is in a severe economic and financial crisis. Argentina suffers from a bloated state apparatus, low industrial productivity and a large shadow economy that deprives the state of much tax revenue. The national currency, the peso, continues to depreciate against the US dollar, and the mountain of debt is constantly growing. The government is currently negotiating a new loan agreement with the International Monetary Fund (IMF). (APA/Red)