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Privatization and Stabilisation in Argentina

In the end, it was liberalisation, devaluation of the peso and attempts to enhance exports that brought about improvement and today the Argentina economy is presenting robust growth. This brief essay presents a discussion about the stabilization and privatization efforts in Argentina, a nation which, despite the huge economic challenges that it had faced, was able to sustain and to improve upon a social security program for its people.Argentina is the world’s eighth-largest country which occupies an area that is greater than the combined area of Mexico and the state of Texas in the United States of America (Encyclopaedia Britannica, Argentina). In Spanish, Argentina means The Land of Silver and perhaps the name of the country presents an indication of the economic difficulties that have had to be endured by its people despite its agricultural and mineral wealth as well as natural beauty. Although the economy of Argentina is better than those of other nations in the region, this country has had to endure several economic downturns and periods of high inflation and unemployment during the late 20th century and a major financial crisis erupted in the early 21st century. Buenos Aires is the nation’s capital city and Argentina has a total of twenty-three provinces which are held together by a Federal system of government.Argentineans are mostly descendants of immigrants from Europe and this nation was revealed to the European explorers in the early 16th century (Encyclopaedia Britannica, Argentina). The national language of Argentina is Spanish because prior to a declaration of autonomy on May 25, 1810, when an autonomous government was established to administer the territories of the Spanish king Ferdinand VII pending his restoration, the territory was governed by Spain. Although Ferdinand VII was eventually restored, he remained powerless in Europe because of France and this resulted in a declaration of independence on July 9, 1816.