Latin America

Who will survive the economic crisis in Argentina?

Pandemic restrictions and economic woes have caused thousands of companies in Argentina to go under. But others escaped the crisis untouched

Buenos Aires argentina. Photo: Sharptoyou/Shutterstock
Buenos Aires. Photo: Sharptoyou/Shutterstock

As President Alberto Fernández of Argentina ramps up restrictions to contain coronavirus transmission during a brutal wave of infections, many of the businesses that barely managed to stay afloat since the 2018 economic crisis face renewed risk. There is a legitimate fear that countless bars, restaurants, gyms, and shopping malls in capital Buenos Aires may go under, joining the already long list of bankruptcies and downsizings.

Overall, 20,000 Argentinian businesses shut up shop last year, according to consultancy firm Ecolatina. This represented some 4 percent of all firms in the country, with the rate jumping to 5 percent among...

Less expensive than a coffee

Enjoy any plan of your choice for US$1 for the first month