President: Alberto Fernández
Fernández has tried to navigate a difficult economy while confronting tensions within his Peronist coalition, including pointed criticism from Vice President Cristina Fernández de Kirchner. Rising poverty and chronically high inflation at around 50% contributed to a setback for the Peronists in the 2021 legislative elections, and complicated negotiations for a debt restructuring with the International Monetary Fund. Currency restrictions are in place to prevent further devaluation of the peso. Fernández has sought cordial relations with the United States while also deepening ties with Russia and China during state visits to both countries in 2022, joining China’s Belt and Road Initiative and welcoming Chinese investment in a nuclear power plant, railways and lithium mining. Beef and soy exports to China have fueled bilateral trade in recent years, but recent droughts will affect grain output and dent economic growth in 2022.
the data is color-coded:
High performing Middle performing
|President’s approval rating*||24%|
|Capacity to Combat Corruption Index ranking (out of 15 Latin American countries)||6|
|Share of adults who support democracy*||69%|
|Military expenditure as % GDP||0.6%|
|Projected GDP growth 2022||2.5%|
|Projected inflation 2022||51.1%|
|Total trade as % of GDP||30%|
|Share of labor force in informal economy||37.8%|
|Share of population living in extreme poverty||6.3%|
|Homicide rate (per 100,000 people)||4.6|
|Annual carbon dioxide emissions (millions of tons)||157|
|Share of public social spending on education||7%|
|Global press freedom ranking (out of 180 countries)||69|
*NOTES: Approval rating updated May 6. Support for democracy reflects percentage who agree that democracy is preferable to any other form of government.
Sources: Approval rating: Management & Fit (April); support for democracy: Latin American Public Opinion Project (2021); Capacity to Combat Corruption Index (2022); military expenditure: Stockholm International Peace Institute (2021); GDP, inflation, unemployment: Bloomberg (March); total trade: World Bank (2020); informal labor force: Inter-American Development Bank (2020); poverty, population, education spending: Economic Commission for Latin America and the Caribbean (2020); Reporters Without Borders Press Freedom Index (2021); homicide rate: InSight Crime (2020); CO2 emissions: Global Carbon Project (2020). NOTE: Informal labor force is for urban population only.
Tags: Alberto Fernández, Argentina