Argentina registered its highest-ever foreign debt at the end of 2023, exceeding $320.3 billion, according to the National Institute of Statistics (INDEC).
Record Foreign Debt Registered
Argentina broke an unfavorable record, registering its highest foreign debt since statistics began being tracked in 1994. The country’s gross foreign debt reached over $320.3 billion at the end of 2023.
This represents an increase of over $1.7 billion compared to the previous quarter.
Debt Under Milei Administration
Gross foreign debt incurred during the administration of libertarian President Javier Milei amounted to over $34.3 billion.
Neoliberal Economic Reforms
Since taking office in December 2023, Milei has been pursuing the dismantling of the decades-old welfare state and transforming the country based on a neoliberal model.
He believes this is the only way to pull Argentina out of its economic crisis.