CHRONOLOGY-Argentina's turbulent history of economic crises

miércoles 30 de julio de 2014 13:41 GYT

BUENOS AIRES, July 30 (Reuters) - Argentina was in a race against time on Wednesday to cut a deal by the end of the day with holdout investors who are suing it and to avert its second debt default in a little over a decade.

It was the latest crisis in Latin America's No. 3 economy, which has suffered a series of economic and political meltdowns going back to the 1930s.

In the early 20th century, the South American country was one of the world's richest, thanks to its production of beef, wheat and other farm goods, plus an educated workforce made up mostly of European immigrants and their descendants.

But the constant crises, often attributable to government mismanagement and fluctuating commodities prices, have plunged millions into poverty and put the country off-limits to all but the most daring investors today.

Here are some of Argentina's crises through history:


The Great Depression hit Argentina especially hard, as demand in Europe and United States for its farm exports suddenly dried up. As customs revenues plunged, the government had trouble paying public workers, causing unrest to grow.

Fed up with the crisis, the military staged a coup in 1930 against democratically elected President Hipolito Yrigoyen, setting a precedent for throwing out governments in times of economic trouble. For the remainder of the 20th century, more generals (14) than civilians (11) would run the country.   Continuación...