Argentina's misery started awhile back:
" By 1913, Argentina was the world's 10th wealthiest nation per capita.
Beginning in the 1930s, however, the Argentine economy deteriorated notably. The single most important factor in this decline has been political instability since 1930, when a military junta took power, ending seven decades of civilian constitutional government. In macroeconomic terms, Argentina was one of the most stable and conservative countries until the Great Depression, after which it turned into one of the most unstable."
Note: Above excerpted from Wikipedia
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