The Argentine economy third in inflation and seventh in recession

The situation does not improve much in 2020: inflation is estimated at 39.2% in line with local forecasts. At the same time, the recession would be moderate: the Fund expects a decline of 1.3%.

Argentina also includes the group of "stressed countries" according to the Monetary Fund. These countries, including Turkey, Iran and Venezuela, face serious economic difficulties.

In all 189 countries, Only 17 in 2019 would have a double-digit increase in consumer prices, less than one in ten. In a world where inflation in general has ceased to be a problem, the few exceptions to Venezuela is a rule (in full hyperinflationary process) followed by Zimbabwe (183%) and Argentina (57%).. The remaining countries that complete the ranking are, in general, smaller than Argentina.

The group of countries that will experience a recession this year is even smaller: 14. Here Argentina ranks seventh with a decline of 3.1%, which, as expected by the Fund, will continue next year, albeit to a lesser extent. Only the Venezuelan chaotic economy surpasses it – which would lose about a third of its product – Libya and Iran with respective setbacks of 20% and 10%, respectively, Zimbabwe, Nicaragua and Equatorial Guinea .

It has been several years since Argentina is fighting for the top places in terms of high inflation. Since 2006, he has always held the top positions, but not in terms of growth.

Argentina is a country endowed with many natural resources, without internal or external conflicts, with an educated population and who shares the fate of a high inflation and does not grow alongside countries like Sudan or the South -Sudan, marked by a civil war that ended in 2013..

Iran, for its part, is a country that has been affected by its economy, among other factors, by the sanctions imposed by the United States on the oil and gas sector. Meanwhile, Haiti is one of the poorest countries on the planet.