1998–2002 Argentine great depression

The 1998–2002 Argentine Great Depression was a period of economic decline for the country of Argentina. It started in 1998 when Argentina's government and citizens had to borrow too much money from banks, and other countries. As a result, people stopped buying things and businesses had to close which caused lots of people to lose their jobs. The banks and other countries stopped lending money to Argentina so their economy couldn't recover and they had to stop using their own money. The government couldn't pay its debts and the currency lost most of its value. As a result, it was very hard for people to buy food and other things they needed. Eventually the depression ended in 2002, when Argentina got help from other countries.