The following Commercial practice note produced in partnership with Diego Krischcautzky of Marval, O'Farrell & Mairal and Diego Di Leonforte of Marval, O'Farrell & Mairal provides comprehensive and up to date legal information covering:
Updated April 2022
The Argentine Republic is sub-divided in 23 provinces and one federal district, the City of Buenos Aires, the nation’s Federal Capital. Located at the south-east tip of South America, Argentina is the eighth largest country in the world and the second largest in Latin America, covering some 3.8 million square kilometres (approximately 1.5 million square miles). Argentina has an estimated population of over 45 million people, of which approximately 15 million live in the Greater Buenos Aires. The overall population density is about 15 persons per square kilometres.
With a Gross Domestic Product (GDP) of approximately US$420bn, Argentina is one of the largest economies in Latin America. However, the historical volatility of economic growth and the accumulation of institutional obstacles have been a hurdle to the country’s development. Urban poverty in Argentina remains high and reaches approximately 40% of the population, according to recent measurements. The coronavirus (COVID-19) crisis led to an extended lockdown on the major productive areas, causing a steep contraction of the GDP in 2020. In 2021, the economy recovered by achieving over 10% GDP growth, almost to reach pre-pandemic levels. However, despite the impressive recovery the Argentine economy still faces significant challenges. Core inflation has remained over 40% for almost a decade and current geopolitical tensions create additional uncertainties about the next few months.
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