Argentina has the second highest Human Development Index level and Gross Domestic Product (GDP) per capitain purchasing power parity in Latin America. Argentina's nominal GDP is the 30th largest in the world; but when purchasing power is taken into account, its total GDP makes it the 23rd largesteconomy in the world.
The country is currently classified as an Upper-Middle Income Country or as a secondary emerging market by the World Bank. Argentina is also one of the G-20 majoreconomies.
The name of Argentina is derived from the Latin argentum (silver), which in turn comes from the Ancient Greek ἀργήντος (argēntos), gen. of ἀργήεις (argēeis), "white, shining". Αργεντινός(argentinos) was an ancient Greek epithet meaning "silvery". The first use of the name Argentina can be traced back to the first voyages made by the Spanish and Portuguese conquerors to the Ríode la Plata which means "Silver River", on the first years of 16th century.
Alejo García, one of the survivors of the shipwrecked expedition mounted by Juan Díaz de Solís at 1516, heard notices abouta powerful White King in a country very rich in silver, at the mountains, called "Sierra de Plata". García then organized an expedition and reached Potosi's area, gaining several silver objects andgifts. He was killed by the payaguas, returning to Santa Catarina, Brazil.
Because of this the Portuguese named the river found by Vespucio or Solis Río da Plata ("River of the Silver"). The news aboutthe legendary Sierra del Plata (a mountain rich in silver) reached Portugal and Spain around 1524. The first mention of the Argentina name was in Martin del Barco Centenera's poem La Argentina,...