Economy of Argentina GDP levels in the world, at par with Canada and Australia and surpassing both France and Italy. Argentina today (2018) is plagued by currency crisis which involved a potential bailout from International Monetary Fund. The currency declined by 18% over a period of 12 days in May 2018 to more than 25 Argentine pesos per U.S. Dollar. Argentina is considered an emerging market by the FTSE Global Equity Index (2018), and is one of the G-20 major economies. Prior to the 1880s, Argentina was a relatively isolated backwater, dependent on the salted meat, wool, leather, and hide industries for both
Currency transaction tax governments the freedom to act in the best interests of their own economic development, rather than being forced to shape fiscal and monetary policies according to demands of fickle financial markets." In early November 2007, a regional Tobin tax was adopted by the Bank of the South in Latin America, after an initiative of Presidents Hugo Chavez from Venezuela and Néstor Kirchner from Argentina. Currency transaction tax A currency transaction tax is a tax placed on the use of currency for various types of transactions. The tax is associated with the financial sector and is a type of financial transaction