Abstract This paper describes how the Argentine economy has developed from the Menem-era until the default in July 2014. The purpose of this research is to understand Argentina's current economic predicament and illuminate causal factors for this. The development of the Argentine economy is analyzed through the macroeconomic objectives in order to assess the impacts of economic policies on the development of the economy. The findings of this paper show that the Menem government's implementation of the Washington Consensus and Neoliberal policies has had detrimental effects on the economy. The findings also show how the continual implementation of discretionary monetary and fiscal policies through the Kirchner-era has had damaging effects on inflation, exports, FDI and the fiscal budget.