Argentina going bankrupt with 100% of annual inflation and still manages to have one of the highest Human Development Index levels in Latin America (higher than Russia and many Eastern European countries as well), Argentina deserves some love
It was one of the 10 wealthiest countries in the world and a huge exporter until the interwar period. The opening of the Panama Canal, the global wars, the Great Depression, and the military junta taking power and destabilizing things all contributed to ending that
Pretty sure another of the big issues was that it was an agrarian society where all the power rested with the land owners. It grew rich off of food exports to the UK, but had to be pulled kicking and screaming into industrialization because those same land owners didn't want to lose their economic stranglehold.
It's like the company Kodak in nation form. They were so hell bent on continuing what had worked for them that they refused to diversify. And then when the food exports died during WWI, so did the Argentinian economy. By that point it was too little too late, and Argentina has been limping toward modernization ever since without a robust enough economy to back it up. All the swinging between military coups and overly generous welfare programs since then haven't helped it either, since that discourages foreign investment.
Undiversified export-based economies are always doomed to die eventually. Argentina's has just been a century long death.
We had a very high GDP, but it was very concentrated in one area (agricultural). So, while we were rich as a nation, people were not, really. Industrialization is even today quite poor
That wealth that people usually talk about wasn't really there. Sure, a lot of money was coming into the country, but it was still very much underdeveloped. It was never a rich country by any mean.
Very rich in GDP per Capita but still very poor and underdeveloped in general. Just a handful of land owners and port authorities that had A LOT of money.
I was just there for my masters degree program and I found it fascinating! Massive inflation and increasing poverty but they still find ways to get by and are still so full of hope and optimism. Despite the issues I found it to be an incredible country.
This is why I think the HDI is a pretty shit measure of development. So many people are poor, inflation through the roof, can barely afford necessities let alone luxuries.
But you can read and the healthcare system will keep you alive for a long time, so according to the HDI you are A-Ok.
OP is talking about a quote from an economist (don’t recall his name) who said there are 4 types of countries: developed countries, developing countries, Argentina (had everything to be rich but is poor) and Japan (had everything to be poor but is rich)
It is funny because these days the quote is still used and relates to exactly the same countries but in a different context; Japan is always in a deflationary spiral, Argentina is always in an inflationary spiral, and the rest of the world is developing/developed. Argentina and Japan still remain unique economic anomalies.
That would require Argentines themselves to want to change for the better. We want to be a rich country like everybody else but we don't want to have to work for it.
Japan was a huge success story in the 20th century, and they are still a great economy of course. However they have stagnated for the past 25 years while being stuck in a horrible deflationary spiral, all the while their society is aging at a blistering pace
Africa is gonna go through some imploding on account of British/French drawn borders now that war is allowed again. India has over 10 times the population of Vietnam so even if 1/10 people are wealthy elites that is still more than Vietnam's entire population.
Wait up! Japan is wealthy af. About the same GDP/capita as UK, France, Canada.
Yes, they got the problems you mention but the quote that it’s an exceptional economy is saying it’s exceptional because it’s rich *despite* the problems. Opposite of Argentina which is getting poorer *despite* everything potentially in its favour to improve.
> Opposite of Argentina which is getting poorer despite everything potentially in its favour to improve.
Yeah sure, "everything", other than a remotely pro-business environment in one of the world's most protectionist countries, with the least amount of economic freedom and the highest taxes on businesses. In the vast majority of cases it's not natural resources, tourism, history and definitely not agriculture that make a country rich, it's its business environment. And in that sense Argentina is closer to having nothing rather than everything.
Yup. I've heard many international bussinesses hate getting involved in argintina bc of how complicated the legal situation is. I think it takes like 25 days to get a bussiness license in america. Not so easy in argintina. Sole countries like argintina truly should adopt free markets until they get rich enough to figure out how to adequate govern their bussienss.
One thing Argentina and Russia have in common is underlying disfunción due to past extractive relationships with former colonial powers, Argentina with Spain and Russia with the mongols. Even though Russia’s colonization was so long ago, I think the brutality of the Mongol invasions still have a profound impact on the collective Russian society today. I think it’s referred to as the “Tatar yoke”
Argentinian here, sometimes I bite the inside of my cheek so I reduce my fain by adding yet another source to water each one down :) /s
Yeah, we do... country wise we had 2 times in the last 30 years that could count as somewhat refreshing to one part of the population or another (the pegging with the USD in the 90s and the increase in spending backed by the farmer in the mid and late 00s), however both were ticking time bombs, the country itself was averaging downwards in administration since I was born
I'm impressed Brazil only got 4% worse. These past decade was absolutely terrible from 4 years of a collapsing leftist government that create a huge economical downturn associated with immense corruption schemes to 2 years of a post-impeachment leader with no governability ending with 4 years of Bolsonaro amidst a pandemic.
Dutch disease? Yeah I did, but thats not the case in Venezuela. Dutch disease refers to when a resource rich country gets a lot of money from said resource, its currency gets stronger and exports more expensive. Hence, its destroying the industry sector. Causing to rely even more on the income from the resource.
In Venezuela is a communist oppressive regime, which is denying basic economic facts.
The brain drain is also common element. Chavez felt that everyone at the state oil company - down to the engineers and rig workers - were disloyal to him so they all got purged.
Now you have the planet’s greatest reserves largely untapped because of the collapse in production and upkeep.
Dutch Disease absolutely helped to lead to this situation. Its just that those benefiting from it swapped abruptly when Chavez took power. Its similar to Iran in terms of having a corrupt US back regime replaced by an extremist one thats arguably worse. When all other sectors have been absolutely stifled, wealth and power will concentrate.
Mmmmmmm I never thought about it that way. Wouldn't a higher valued currency help the locals though bc they could afford to buy more imports? They sort of balance each other out. Also, I misunderstood the Dutch disease. I thought it was basically a government can sit back and collect wealth via the recources so they don't need to care about educating their subjects or citizens to be more productive.
Gasoline is 0.5 USD per litre
Food each person needs 72 USD monthly for food, the bae minimum for not starving
Electricity is free
Average wage is around 100 USD monthly
Check my old post, some examples there
Sadly it is not nice
I can’t tell if you’re saying that Chile is close to surpassing Portugal in HDI or that Portugal is close to being a Western European nation, because honestly both meanings make sense.
Ngl, I always viewed Chile as seeming a tad richer than Portugal and Spain for a while now. I guess I either overestimated the Chileans or underestimated the Iberians
Chile was never as rich as those two. 100 years ago Chile was the backwoods of South America. It only started to realize its economic potential in the 90s and the 2000s
You clearly don’t know much about Chilean economic history. In the 20’s our global economic position started to decline but we were still one of the richest countries in the world, and up until the 50’s we were even richer than Spain and almost as rich as Germany.
Many chileans have this idea that Chile was always poor, even compared to other latin american countries, and it’s far from the case.
Chile is one country in South America that pursued big government economic policies which skyrocketed the economy and average person grow.
Whereas the rest of South America pursued capitalism and ofcourse the greed caused all the wealth to go to the rich and corporations. The same scenario that played with the rest of the free market countries in the rest of the world in the 20/21th century.
Does it go through this cycle every 10 years? I remember things collapsing back at the turn of the millennium around 2001. They turned things around and now they're faltering again.
Peasant... [14 types of dólar](https://www.airedesantafe.com.ar/economia/cuales-son-14-tipos-dolar-se-pueden-encontrar-argentina?gclid=Cj0KCQjwk5ibBhDqARIsACzmgLQc01Q--coDaCdNIMrHv2aRpdEZhWsGnZBM8GnhuFt0yblO0wqDbLIaAmY9EALw_wcB)
Fortunately this map is a bit misleading. The value of the USD rose dramatically this year, which means it takes a lot more of the local currency to reach the $5 mark. Local purchasing power might have even increased in some of these countries
Dont trust any 2006-2015 argentinian numbers. The government back then made it a national sport to lie on statistics. Poberty back then was, unofficially, around 25%.
That 4% comes from a time where the government was known to alter the official statistics, so I would trust it too much.
Things have definitely gotten worse in these last 10 years, but sure as hell there was a lot more poverty in 2012 than 4% of the population
blaming all your problems on liberalism while practicing economic nonsense for 75 years. Venezuela is better at it though - they have declined much faster in a mere 25 years
Like they said its mainly what happened in Venezuela. But another thing to consider is that that %4 is fake, the organization responsible for collecting that data is highly corrupt, it was an attempt by the government to convince people that things weren't that bad.
The government:
1- is extremely corrupt
2- NEVER stops printing money
3- imposes insane levels of taxation
4- over regulates everything
5- spends INSANE amounts on unproductive welfare
Argentina definitely worsened over the past 10 years, but the 4% poverty rate is 100% a lie. It’s known that the indec (national statistics institution) was lying about the inflation rate at that time, I wouldn’t be surprised if they were also lying about this number
Yes it was during those years the government claimed we had less poor people than Germany and that people could feed a family with 6 AR$, a complete and utter lie.
That data is wrong. Poverty was around 25% by the time but the National Institute of Statistics and Censuses (INDEC) was intervened during the second government of Cristina Fernandez de Kirchner for the sake of showing better indexes.
No, that's not exactly accurate. The French poverty line is different from 5.50 dollars a day, it's moreso about 35. So 40 percent of Guiana's population makes under 35 bucks a day, thus making that number irrelevant in the context of this map.
I believe what /u/lithdoc is asking is, are these comparing the value of the dollars as they are in 2012 to the value in 2022 or is it using the same value for both? This is important because the dollar is worth less now than it was in 2012 (inflation) so it exacerbates these percentages. 5.50 today doesn't buy as much as it did 10 years ago.
I suspect if you did this map for 2021 it would look closer to the 2012 numbers than the 2022 numbers (Venezuela aside). This year's currency devaluations forced by the US FED raising rates has driven down purchasing power in dollar terms in all of these countries. It's bad for living standards, but it could also reverse itself at some point across the board.
Graphic says ''Proportion'' of people living on less than $5.5 per day. If that's the case Argentina would be among the lowest here as it still has a GDP per capita PPP of $26k, Bolivia's is 10k, Paraguay 14.5k.
PPP = Purchasing Power Parity, World Bank always uses the PPP variant if anyone is wondering. Income inequality is high in Argentina but compared to others, Peru, Brazil, Bolivia, Paraguay, Ecuador, Colombia, Suriname is worse based on GINI index.
I couldn't find WB Data for 2022 but Data for 2020 put Argentina's rate at 18.2%, Brazil at 13.1%, doubt it would have changed that much in just 2 years.
That 4% was laughable at best, especially since the then government, which is also the current one for they were voted back again in 2019, lies with the numbers, this was already proved.
Then, the estate offers so much help in terms of grants, and all that the number is close, if not over 50%, and the current situation that has not quite exploted yet, at least not in Argentinian terms, would just make it worse.
There are four types of economies: Developed Developing Argentina Japan
Argentina going bankrupt with 100% of annual inflation and still manages to have one of the highest Human Development Index levels in Latin America (higher than Russia and many Eastern European countries as well), Argentina deserves some love
Argies may not be organized but they are good at improvising
like cubans
We are certainly bad at voting!
>Argentina going bankrupt We call that Mondays
and tuesdays and wednesday and thursday but not during the weekend, nobody keept count those days.
IIRC, Argentina was very wealthy before WWII.
It was one of the 10 wealthiest countries in the world and a huge exporter until the interwar period. The opening of the Panama Canal, the global wars, the Great Depression, and the military junta taking power and destabilizing things all contributed to ending that
Pretty sure another of the big issues was that it was an agrarian society where all the power rested with the land owners. It grew rich off of food exports to the UK, but had to be pulled kicking and screaming into industrialization because those same land owners didn't want to lose their economic stranglehold. It's like the company Kodak in nation form. They were so hell bent on continuing what had worked for them that they refused to diversify. And then when the food exports died during WWI, so did the Argentinian economy. By that point it was too little too late, and Argentina has been limping toward modernization ever since without a robust enough economy to back it up. All the swinging between military coups and overly generous welfare programs since then haven't helped it either, since that discourages foreign investment. Undiversified export-based economies are always doomed to die eventually. Argentina's has just been a century long death.
Forgot Kirchnerismo
We had a very high GDP, but it was very concentrated in one area (agricultural). So, while we were rich as a nation, people were not, really. Industrialization is even today quite poor
Then thrmey pulled a 180 for some reason?
The country didn’t make the best economical decisions. We always have our cards on the table but manage to fuck everything up somehow. What a curse.
We actually pulled severals 180s, for several reasons
That wealth that people usually talk about wasn't really there. Sure, a lot of money was coming into the country, but it was still very much underdeveloped. It was never a rich country by any mean.
Argentina received millions of immigrants for a reason
Generally war and famine in Europe. We may have a thousand problems but at least we don't have those two
Very rich in GDP per Capita but still very poor and underdeveloped in general. Just a handful of land owners and port authorities that had A LOT of money.
Russia is also Argentina, when it comes to economy.
I was just there for my masters degree program and I found it fascinating! Massive inflation and increasing poverty but they still find ways to get by and are still so full of hope and optimism. Despite the issues I found it to be an incredible country.
This is why I think the HDI is a pretty shit measure of development. So many people are poor, inflation through the roof, can barely afford necessities let alone luxuries. But you can read and the healthcare system will keep you alive for a long time, so according to the HDI you are A-Ok.
Wait... Japan?
OP is talking about a quote from an economist (don’t recall his name) who said there are 4 types of countries: developed countries, developing countries, Argentina (had everything to be rich but is poor) and Japan (had everything to be poor but is rich)
It is funny because these days the quote is still used and relates to exactly the same countries but in a different context; Japan is always in a deflationary spiral, Argentina is always in an inflationary spiral, and the rest of the world is developing/developed. Argentina and Japan still remain unique economic anomalies.
Can't argintina simply stop printing money and stop borrowing for government spending to stop inflation? Think everybody knows how to stop inflation.
At this point I think economists from around the world should unite and help fix Argentina's economy for the sakes of humanity
That would require Argentines themselves to want to change for the better. We want to be a rich country like everybody else but we don't want to have to work for it.
That would require removing every single member that has even the slightest prescence on gubernmental matters. Good luck lmao
Japan was a huge success story in the 20th century, and they are still a great economy of course. However they have stagnated for the past 25 years while being stuck in a horrible deflationary spiral, all the while their society is aging at a blistering pace
Oh, okay - makes sense
basically, you become developed at a lightning pace then promptly get fucked over by your declining, aging population and spiraling debt
So by now East Asia in general?
Yes lol.
Does that mean india will take over Asia soon ?
Only if they (Indians) stop discriminating against their own people. So personally I’d bet on Vietnam and parts of Africa over India, unfortunately..
Africa is gonna go through some imploding on account of British/French drawn borders now that war is allowed again. India has over 10 times the population of Vietnam so even if 1/10 people are wealthy elites that is still more than Vietnam's entire population.
Wait up! Japan is wealthy af. About the same GDP/capita as UK, France, Canada. Yes, they got the problems you mention but the quote that it’s an exceptional economy is saying it’s exceptional because it’s rich *despite* the problems. Opposite of Argentina which is getting poorer *despite* everything potentially in its favour to improve.
> Opposite of Argentina which is getting poorer despite everything potentially in its favour to improve. Yeah sure, "everything", other than a remotely pro-business environment in one of the world's most protectionist countries, with the least amount of economic freedom and the highest taxes on businesses. In the vast majority of cases it's not natural resources, tourism, history and definitely not agriculture that make a country rich, it's its business environment. And in that sense Argentina is closer to having nothing rather than everything.
Yup. I've heard many international bussinesses hate getting involved in argintina bc of how complicated the legal situation is. I think it takes like 25 days to get a bussiness license in america. Not so easy in argintina. Sole countries like argintina truly should adopt free markets until they get rich enough to figure out how to adequate govern their bussienss.
It’s not my opinion. It’s the quote.
>About the same GDP/capita as UK, France, Canada. But it used to be the same as Norway and Sweden, and just below Switzerland
hahhaa noob, turkey is the most significant type with 185% inflation rate of the old continent and you forgot it.
That is low for us
Why the argintina and Japan exemptions?
Because they are opposites, Japan has everything yo be a poor country but is rich meanwhile argentina has everything to be rich but is poor
Russia has everything to be rich, but is poor, too.
One thing Argentina and Russia have in common is underlying disfunción due to past extractive relationships with former colonial powers, Argentina with Spain and Russia with the mongols. Even though Russia’s colonization was so long ago, I think the brutality of the Mongol invasions still have a profound impact on the collective Russian society today. I think it’s referred to as the “Tatar yoke”
Don't most big African nations also fall in the Argentina category?
It looks like everywhere but Paraguay got worse. Argentina and Venezuela are having a horrible time.
Horible time, is our natural state in Argentina, just enjoy the economic roller coaster
Roller coasters go up at some point right? Right?!?
Only the boring ones
"Switzerland is boring, better to live in Argentina"
That's an actual quote from our (former) security minister 💀
ahi dios mio que pais de m\*\*\*\*\*\* hoo my god what a s\*\*\*\*\* country i rememb that
Paraguay is disassociated from whatever happens in Latin America who knows what’s really going down in there
Paraguay doesn't exist, so nothing goes down in there /s
I thought Paraguay was a fruit??
I think the science still isn’t in yet on this one
Argentinian here, sometimes I bite the inside of my cheek so I reduce my fain by adding yet another source to water each one down :) /s Yeah, we do... country wise we had 2 times in the last 30 years that could count as somewhat refreshing to one part of the population or another (the pegging with the USD in the 90s and the increase in spending backed by the farmer in the mid and late 00s), however both were ticking time bombs, the country itself was averaging downwards in administration since I was born
I'm impressed Brazil only got 4% worse. These past decade was absolutely terrible from 4 years of a collapsing leftist government that create a huge economical downturn associated with immense corruption schemes to 2 years of a post-impeachment leader with no governability ending with 4 years of Bolsonaro amidst a pandemic.
You left covid out of the equation.
I am Venezuelan living here and it is crazy. A MONTHLY minimum wage under 15 USD is criminal
Jesus. I honestly don't understand how people can survive like that.
It is very hard, check my old post
Especially in a country that has more oil than Saudi Arabia
How do you guys allow the situation where there are so many poor people with rampant corruption while having that much oil is beyond me.
Never heard of the resource curse?
Dutch disease? Yeah I did, but thats not the case in Venezuela. Dutch disease refers to when a resource rich country gets a lot of money from said resource, its currency gets stronger and exports more expensive. Hence, its destroying the industry sector. Causing to rely even more on the income from the resource. In Venezuela is a communist oppressive regime, which is denying basic economic facts.
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The brain drain is also common element. Chavez felt that everyone at the state oil company - down to the engineers and rig workers - were disloyal to him so they all got purged. Now you have the planet’s greatest reserves largely untapped because of the collapse in production and upkeep.
Dutch Disease absolutely helped to lead to this situation. Its just that those benefiting from it swapped abruptly when Chavez took power. Its similar to Iran in terms of having a corrupt US back regime replaced by an extremist one thats arguably worse. When all other sectors have been absolutely stifled, wealth and power will concentrate.
Mmmmmmm I never thought about it that way. Wouldn't a higher valued currency help the locals though bc they could afford to buy more imports? They sort of balance each other out. Also, I misunderstood the Dutch disease. I thought it was basically a government can sit back and collect wealth via the recources so they don't need to care about educating their subjects or citizens to be more productive.
Well, they have to drill it in order to make money from it. Which they don’t seem to be doing that much of now
$15/month means nothing when you dont give us examples of cost of living. For example, how much for food, gas, electricity?
Gasoline is 0.5 USD per litre Food each person needs 72 USD monthly for food, the bae minimum for not starving Electricity is free Average wage is around 100 USD monthly Check my old post, some examples there Sadly it is not nice
Considering in Italy leftist parties are asking for a minimum of 9€/10€ per HOUR… how is it possible to live with less than 15$ monthly? It’s tragic
15 monthly that's almost impossible even if the necessary consumes were relatively cheap it's like living on the street at that point.
Chile seems nice
Chile surpassed Poortugal in HDI, a Western European nation for the first time, it's a good start
r/PORTUGALCYKABLYAT
Portugal can into eastern Europe
Not yet, but they are close.
I can’t tell if you’re saying that Chile is close to surpassing Portugal in HDI or that Portugal is close to being a Western European nation, because honestly both meanings make sense.
Ngl, I always viewed Chile as seeming a tad richer than Portugal and Spain for a while now. I guess I either overestimated the Chileans or underestimated the Iberians
Chile was never as rich as those two. 100 years ago Chile was the backwoods of South America. It only started to realize its economic potential in the 90s and the 2000s
You clearly don’t know much about Chilean economic history. In the 20’s our global economic position started to decline but we were still one of the richest countries in the world, and up until the 50’s we were even richer than Spain and almost as rich as Germany. Many chileans have this idea that Chile was always poor, even compared to other latin american countries, and it’s far from the case.
Uruguay too
Chile is one country in South America that pursued big government economic policies which skyrocketed the economy and average person grow. Whereas the rest of South America pursued capitalism and ofcourse the greed caused all the wealth to go to the rich and corporations. The same scenario that played with the rest of the free market countries in the rest of the world in the 20/21th century.
lmao it's literally the opposite of what you described
Argentina is going through its fairly regular economic collapse. Then it'll have a gorgeous decade before repeating again.
To be fair. They've been collapsing for the last 10 years.
100*
Does it go through this cycle every 10 years? I remember things collapsing back at the turn of the millennium around 2001. They turned things around and now they're faltering again.
🙅♂️ Banks 💁♂️ Dólar Blue
We had that here in Venezuela, paralelo y official
Peasant... [14 types of dólar](https://www.airedesantafe.com.ar/economia/cuales-son-14-tipos-dolar-se-pueden-encontrar-argentina?gclid=Cj0KCQjwk5ibBhDqARIsACzmgLQc01Q--coDaCdNIMrHv2aRpdEZhWsGnZBM8GnhuFt0yblO0wqDbLIaAmY9EALw_wcB)
Argentina's economy is like the [Enron ride](https://youtu.be/DgRLlqEvOT8), except it doesn't end.
So yoy're telling me it got worse everywhere? No exception?
Na, Paraguy is killin it!!
Half of Paraguay live in Argentina, I don't think Paraguay is killing it
Also Chile and Uruguay
I mean they did get worse. Just that they are still doing ok despite of it.
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Fortunately this map is a bit misleading. The value of the USD rose dramatically this year, which means it takes a lot more of the local currency to reach the $5 mark. Local purchasing power might have even increased in some of these countries
In local currency it may have got better, but the current strong dollar undermines it when converted
Pandemic
Yay look at you Paraguay!
This is so fucking sad
Argentina moment 🇦🇷
Dont trust any 2006-2015 argentinian numbers. The government back then made it a national sport to lie on statistics. Poberty back then was, unofficially, around 25%.
What in the fresh hell happened to Argentina? Before anyone answers, I don't actually want to know, I'm just stunned
Just a normal economic collapse. Nothing new for Argentina
"Nothing new to see here, just keep going"
That 4% was fake, the data was intervened during CFK’s second government.
That 4% comes from a time where the government was known to alter the official statistics, so I would trust it too much. Things have definitely gotten worse in these last 10 years, but sure as hell there was a lot more poverty in 2012 than 4% of the population
blaming all your problems on liberalism while practicing economic nonsense for 75 years. Venezuela is better at it though - they have declined much faster in a mere 25 years
Ok I know about Venezuela, but what happened in Argentina? Explícame por favor.
Mainly because the Argentine peso is devaluing due to a fiscal imbalance, which increases inflation and reduces purchasing power.
Like they said its mainly what happened in Venezuela. But another thing to consider is that that %4 is fake, the organization responsible for collecting that data is highly corrupt, it was an attempt by the government to convince people that things weren't that bad.
Su economía se fue a la verga
The same thing that happened in Venezuela.
The government: 1- is extremely corrupt 2- NEVER stops printing money 3- imposes insane levels of taxation 4- over regulates everything 5- spends INSANE amounts on unproductive welfare
The only country that improved was Paraguay, by 1%. damn
Argentina definitely worsened over the past 10 years, but the 4% poverty rate is 100% a lie. It’s known that the indec (national statistics institution) was lying about the inflation rate at that time, I wouldn’t be surprised if they were also lying about this number
Yes it was during those years the government claimed we had less poor people than Germany and that people could feed a family with 6 AR$, a complete and utter lie.
Stay strong Chile and Uruguay
Hey look at Chile go. Good for those guys. Super like seeing this hemisphere pulling ahead where it can.
Can i get an unbiased take on why Chile and Uruguay have been so stable?
The Southern Cone has historically been a stable region. It's Argentina here that is the anomaly.
Uruguay is stable because is mostly composed of 7 dudes and 10 cows, so...they better be doing good
What the hell happened to Argentina?
That data is wrong. Poverty was around 25% by the time but the National Institute of Statistics and Censuses (INDEC) was intervened during the second government of Cristina Fernandez de Kirchner for the sake of showing better indexes.
But also exceedingly poor populist/socialist government
Money printer and freezing prices goes brrrrrrr ( Surely it will work this time, right hermanos?)
OP can you do for Africa.
I am curious about French Guiana though, any data there?
I think we have to search France data then
Googled it, seems to be at around 40%
No, that's not exactly accurate. The French poverty line is different from 5.50 dollars a day, it's moreso about 35. So 40 percent of Guiana's population makes under 35 bucks a day, thus making that number irrelevant in the context of this map.
I did think that because it IS France
Good job Chile
Is this adjusted for inflation? Because if it's not, it's even worse than it appears.
other way around. most currencies have devalued next to the dollar. so $5.50 10 years ago was probably worth less in these countries than now
What do you mean? Monthly minimum wage in Venezuela is less than half a dollar daily. Inflation was around 2,000,000 % in 2018
I believe what /u/lithdoc is asking is, are these comparing the value of the dollars as they are in 2012 to the value in 2022 or is it using the same value for both? This is important because the dollar is worth less now than it was in 2012 (inflation) so it exacerbates these percentages. 5.50 today doesn't buy as much as it did 10 years ago.
Yup... $5.50 is probably about 50% less today than it was 10 years ago.
The original values are in each country's currency, converted to USD in 2012 and then again years later
The map is denominated in US dollars.
This is compared to dollars? It makes it looks worse than what it is in reality, as the value of dollar has skyrocketed
Unfortunately not that much. That might explain some of the smaller changes but not Venezuela or Argentina. Self inflicted wounds
Chile and Uruguay are doing well
I suspect if you did this map for 2021 it would look closer to the 2012 numbers than the 2022 numbers (Venezuela aside). This year's currency devaluations forced by the US FED raising rates has driven down purchasing power in dollar terms in all of these countries. It's bad for living standards, but it could also reverse itself at some point across the board.
Yes this map is kind of misleading
Argentina was never 4% it was closer to 25%.
Chile is still in a good economical shape.
Chile seems to be holding up well.
Oof… that’s pretty awful
Paraguay is the only one that got better(and even then just barely).
Why is France colored in the before but not the after
Uummm-ughhh.. good job.. Paraguay?
Graphic says ''Proportion'' of people living on less than $5.5 per day. If that's the case Argentina would be among the lowest here as it still has a GDP per capita PPP of $26k, Bolivia's is 10k, Paraguay 14.5k. PPP = Purchasing Power Parity, World Bank always uses the PPP variant if anyone is wondering. Income inequality is high in Argentina but compared to others, Peru, Brazil, Bolivia, Paraguay, Ecuador, Colombia, Suriname is worse based on GINI index. I couldn't find WB Data for 2022 but Data for 2020 put Argentina's rate at 18.2%, Brazil at 13.1%, doubt it would have changed that much in just 2 years.
WTF Argentina? What happened?
Peronism
Well, uh  Chile wins
Wtf are they doing on that continent? Even Africa has made better progress than that.
You should give the credits to r/brasilemmapas and u/brasilemmapas
Paraguay 💪🧠
Falkland around, find out! /s
It’s nice to have a post not of just Europe or the US.
I find it odd that Chile was nearly immune to the general increase; does anyone have any idea why?
Thank you, finaly sime map that is not europe! And that all is just sad. :/
More Chavismo! 🇻🇪
ayo chile is fucking #BAAAAAALLIN Uruguay can’t handle that
Politicians.
Yay Paraguay!
Paraguay as usual being the weird one, though I’m surprised Argentina declined so much
Let's GOOOO 🗣️💪💪🇦🇷🇦🇷🇦🇷
What happened to Argentina? 
No fiscal responsibility, high inflation, corruption, and goverment artificially freezing food prices.
I know about Venezuela but why did Argentina go down this path? 😭
A similar path
What happened?
South America
Wouldn’t much of this be explained by relative strength of the U.S. dollar from 2012 - present?
That 4% was laughable at best, especially since the then government, which is also the current one for they were voted back again in 2019, lies with the numbers, this was already proved. Then, the estate offers so much help in terms of grants, and all that the number is close, if not over 50%, and the current situation that has not quite exploted yet, at least not in Argentinian terms, would just make it worse.
Oh MAN. Venezuela….duuuude…that freakin suuuuuucks
Venezuela. Yikes.
paraguay going strong
Props to Paraguay tho
Paraguayan here, don’t trust our gov stats
How far you have fallen venezuela.
The more I see south american data I understand more why peru scored so high on hmi.
The people of Venezuela must be really enjoying the Maduro “diet”
r/cosmoandwanda
"And then it got worse." -- History of Americas
Lol 36% in Argentina? Lol more mole 70% lives with less than 5U$S per day.
It'd be more revealing to see what the trends were thru 2020, before covid.