From the Document: "Situated on the Atlantic coast of South America's Southern Cone, Argentina is an electoral democracy and has Latin America's third-largest economy. U.S.-Argentine relations have been strong in recent years. [...] Current President Alberto Fernández of the center-left Peronist-led 'Frente de Todos' (FdT, Front for All) coalition won the October 2019 presidential election and was inaugurated to a four-year term in December 2019. [...] Upon taking office, President Fernández faced an economy in recession, high poverty, and unsustainable public debt. He pledged to restructure Argentina's debt and opened talks with bondholders and other creditors. He also rolled out several measures, including a food program and price controls on basic goods, aimed at helping low-income Argentines cope with inflation and increased poverty. [...] Like other South American countries, Argentina has been hard hit by the Coronavirus Disease 2019 (COVID-19) pandemic. Cases and deaths have surged in recent months. As of June 4, 2021, the country reported almost 80,000 deaths, with a mortality rate of 177 per 100,000 people, according to Johns Hopkins University. The procurement and rollout of vaccines has been slow compared with some other countries, and some analysts maintain that vaccine availability will not be widespread until 2022. [...] Amid the pandemic and its economic fallout, President Fernández's popularity has declined. Midterm legislative elections, delayed a month until November 2021due to the pandemic, will be a key test for Fernández and his FdT coalition."
CRS In Focus, IF10932
Congressional Research Service: https://crsreports.congress.gov/