The Argentine capital is a city on the rise.

Buenos Aires: Argentine President Cristina Fernandez de Kirchner, locked out of international capital markets since taking office, said an offer to holders of $20 billion of unpaid debt marks a “turning point” in her country’s history and will be a good deal for investors.

Driven from power by a devastating economic crisis and deadly riots, outgoing Argentinian President Fernando De la Rua returned to his offices for a last time today to await the formal hand over to a caretaker government.

Argentina teetered on the brink of economic collapse today after anti-government protests and looting prompted the president to declare a state of siege and the entire cabinet to resign.

Argentina's finance minister has resigned amid widespread rioting that has claimed the lives of five people and injured 100.