5 Countries With Highest Interest Rates

2. Argentine Republic

Interest rate as of November 2022: 75%

The Argentine Republic is another South American country, and it is also a major non-NATO ally of the United States. The country has one of the largest economies in the world, which was worth $1.2 trillion in 2022 with GDP per capita sitting at $26,074. The economy follows the age-old pattern of boom and bust, where periods of economic growth are followed by crashes, and the country is often wary of sending its assets, such as planes, abroad for the fear of being confiscated for its bond repayments. The Argentine Republic’s interest rate sits at 75%, and its inflation is 88%.