This report reviews Argentina's financial crisis, the bond exchanges of 2005 and 2010, ongoing litigation, prospects for a final solution, related U.S. legislation, and broader policy issues. These include lessons on the effectiveness and cost of Argentina's default strategy, the ability to force sovereigns to meet their debt obligations, and ways to avoid future defaults like Argentina's.

Argentina’s current crisis resulted from a confluence of events, some external to Argentina’s policy process, others directly related to its political and economic choices. The following is a summary of these events from before Argentina’s adoption of the currency board in 1991 to developments in early 2002.

This report discusses the social and political situation in Argentina, more specifically political and financial crisis that ended the presidency of Fernando de la Rua on December 20, 2001. This report concludes with the May 25, 2003 inauguration of President Kirchner.

Front: Text describes action on various war fronts: Plans, Russia, Italy, Far East, Southwest Pacific, Argentina. Maps: The Eastern Front; large world map shows United Nations, Axis and Axis occupied areas, countries with Axis relations broken, and neutral countries. Photographs: Gangway, I'm a choo choo train [Army jeep pulls a freight car] -- Member of Chinese Expeditionary Force trains at a U.S. Army base in India -- Soldiers move material into place to build a bridge -- Chinese soldier simultaneously receives immunization shots in both arms. Back: The Making of a U.S. Bluejacket. Text and 25 photographs illustrate the training of the Naval personnel.