Examining the Effects of the COVID-19 Pandemic on the Economic Crisis in Argentina

The COVID-19 pandemic and the policies intended to combat the spread of virus in Argentina could be viewed primarily as an issue of public health, but the virus and these policies have significant economic implications, for the state and its citizens. Before the pandemic, Argentina was already facing an economic crisis. To understand the full effects of the virus and its impact on the lives of the Argentine people, it is necessary to ask: has the COVID-19 pandemic exacerbated the existing monetary and fiscal crisis in Argentina. The evidence shows the COVID-19 pandemic has worsened existing economic issues in Argentina, and it could make a potential economic recovery more difficult. Argentina has defaulted on its sovereign debt three times in the last eighteen years, and it was facing economic conditions that were a serious cause for concern in 2018 and 2019. After past credit defaults, more favorable terms allowed Argentina to see some economic growth, but it is not reasonable to expect that pattern to continue. Argentina will be facing a different set of circumstances, including depressed tax revenues, a shrinking percentage of the workforce employed by the private sector, and a global community experiencing many of the same issues