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
History of Argentina in reference both to the "Revolución Argentina", the Brazilian military regime (1964–85), Augusto Pinochet's regime (starting in 1973) and Juan María Bordaberry's regime in Uruguay. Onganía's Minister of Economy, Adalbert Krieger Vasena, decreed a wage freeze and a 40% devaluation of the currency, which strongly affected the state of the Argentine economy, in particular the agricultural sector, favoring foreign capital. Vasena suspended collective labour conventions, reformed the hydrocarbon law which had established a partial monopoly of the "Yacimientos Petrolíferos Fiscales" (YPF) state enterprise, as well as passing a law facilitating expulsions in case of failure to pay rent. Finally, the