Economic history of Argentina rate never went above 10%, and the country largely recovered by 1935. However, the Depression permanently halted its economic expansion. Actually, much like other developing countries, the economy was already in a downturn beginning in 1927, a result of declining prices. Argentina abandoned the gold standard in December 1929, earlier than most countries. For much of the previous period, the country had operated a currency board, in which a body known as the caja de conversión was charged with maintaining the peso's value in gold. The devaluation of the peso increased the competitiveness of its exports and protected domestic production.
Foreign relations of Argentina Foreign relations of Argentina This article deals with the diplomatic affairs, foreign policy and international relations of Argentina. At the political level, these matters are officially handled by the Ministry of Foreign Relations, also known as the "Cancillería", which answers to the President. The Minister of Foreign Relations, since June 2017, is Chancellor (es: "Canciller") Jorge Faurie. Owing to its geographical remoteness, local authorities in what is today Argentina developed an early sense of autonomy. Based largely on economic needs, during colonial times their pragmatism led to a flourishing unofficial market in smuggled goods, out of the then-small port of