Changes

Over 450 U.S. companies are currently operating in Argentina and employ over 150,000 Argentine workers. U.S. investment in Argentina is concentrated in the manufacturing, information, and financial sectors. Other major sources of investment include Spain, Chile, Italy, France, Canada, and Japan. Continuing Argentine arrears to international creditors (including over $20 billion in default claims by international bondholders and over $6 billion owed to official creditors, including the U.S. Government) and a large number of arbitration claims filed by foreign companies are legacies of the 2001/2002 economic crisis that remain to be resolved and adversely impact Argentina's investment climate.

Over 450 U.S. companies are currently operating in Argentina and employ over 150,000 Argentine workers. U.S. investment in Argentina is concentrated in the manufacturing, information, and financial sectors. Other major sources of investment include Spain, Chile, Italy, France, Canada, and Japan. Continuing Argentine arrears to international creditors (including over $20 billion in default claims by international bondholders and over $6 billion owed to official creditors, including the U.S. Government) and a large number of arbitration claims filed by foreign companies are legacies of the 2001/2002 economic crisis that remain to be resolved and adversely impact Argentina's investment climate.

===Economic crysis===

===Economic crisis===

[[File:Javier Milei dressed as Captain Ancap.jpg|thumbnail|150px|[[Javier Milei]] dressed as Captain [[Ancap]], in 2023 he was elected President to end with decades of [[inflation]].]]

[[File:Javier Milei dressed as Captain Ancap.jpg|thumbnail|150px|[[Javier Milei]] dressed as Captain [[Ancap]], in 2023 he was elected President to end with decades of [[inflation]].]]

The 12 Kirchnerist years left Argentina with twin deficits of 17 points of GDP. In turn, of those 17 points of GDP, 15 corresponded to the consolidated deficit between the Treasury and the Central Bank. Therefore, there is no viable solution that avoids attacking the fiscal deficit. At the same time, of those 15 points of the fiscal deficit, 5 correspond to the National Treasury and 10 to the Central Bank. Therefore, the solution implies, on the one hand, a fiscal adjustment in the national public sector of 5 points of GDP, which, unlike in the past, will fall almost entirely on the State and not on the private sector. On the other hand, it is necessary to clean up the Central Bank's interest-bearing liabilities, which are responsible for the 10 points of the Central Bank's deficit.

The 12 Kirchnerist years left Argentina with twin deficits of 17 points of GDP. In turn, of those 17 points of GDP, 15 corresponded to the consolidated deficit between the Treasury and the Central Bank. Therefore, there is no viable solution that avoids attacking the fiscal deficit. At the same time, of those 15 points of the fiscal deficit, 5 correspond to the National Treasury and 10 to the Central Bank. Therefore, the solution implies, on the one hand, a fiscal adjustment in the national public sector of 5 points of GDP, which, unlike in the past, will fall almost entirely on the State and not on the private sector. On the other hand, it is necessary to clean up the Central Bank's interest-bearing liabilities, which are responsible for the 10 points of the Central Bank's deficit.