Argentina's Central Government Debt (% of GDP), 1990-2022

Argentina's debt history is marked by episodes of crisis and recovery. Debt fell from 44.74% in 1990 to 26.89% in 1993 amid structural reforms, but rose again to 48.01% in 2001, culminating in the 2002 economic collapse, when debt skyrocketed to 147.2%. Subsequent debt restructuring and economic stabilization reduced it to 53.81% by 2008.

The 2018 currency crisis and fiscal challenges drove debt to 85.25%, followed by a spike to 102.79% in 2020 due to the pandemic. Although it eased to 84.47% by 2022, persistent fiscal imbalances remain a significant challenge.