Can Argentina’s Success Last?

Argentina's economy has performed at a breathtaking level over the past eight years – a phoenix rising from the ashes of the 2002 meltdown and debt default. But Argentina's authorities must still implement policies to ensure that the recurring crises and volatility of the past remain in the past.

BUENOS AIRES – Argentina is a curious country. During the past eight years, the economy put up exceptional indicators: GDP grew almost 70% (nearly as dynamic as China) and formal employment increased more than 30%. The country’s unprecedentedly solid fiscal results are accompanied by foreign-trade surpluses that are the envy of even the world’s most fiscally solvent countries.