Then and now – Ireland & The Argentine Economic Crisis

Argentina entered recession in 1999 and defaulted on it’s public debt in 2001. According to Wikipedia In the meantime, government spending continued to be high and corruption was rampant. Argentina’s public debt grew enormously during the 1990s, and the country showed no true signs of being able to pay it . Enormously eh? It hit the heady heights of.. Ratio of debt to GDP grows to 41% in 1998, then 47% in 1999. Ratio of debt to GDP grows to …

Read more…