The Argentine Republic

Paper Summary:

This paper explains that Argentina enjoys a wide range of natural resources, a highly literacy rate, an export-oriented agricultural sector, and a diversified industrial base; on the other hand, the country has suffered recurring economic problems of inflation, external debt, capital flight, and budget deficits over the past 10 years. The author points out that, unlike the rest of the continent to the north,which lies within the tropics, Argentina lies almost completely within the temperate zone of the Southern Hemisphere. As a result, the country enjoys excellent weather. The paper concludes that, notwithstanding the Argentine government's history of poor economic management practices, it appears things are looking up; investors at home and abroad may look at Argentina in the future if the government can just avoid the same types of mistakes it has consistently made in the past.

Table of Contents
Introduction
Review and Analysis
People/Population
Climate and Geography
Historical Development
Major Development
Social Indicators
Economic Indicators
Recent Economic Performance
Economic Crisis
Economic Ties with the Rest of Latin America
Recovery Strategy Needed
Future of Argentina
Conclusion
The World Bank Group Competitiveness Indicators

From the Paper:

"The government efforts to achieve a "zero deficit," to stabilize the banking system, and to restore economic growth proved too little too late and the peso's peg to the dollar was abandoned in January 2002; the peso was floated in February 2002 and the exchange rate plummeted and inflation skyrocketed. By mid-2002, though, the economy had stabilized but at a lower level than previously. A strong demand for the peso caused the Central Bank to intervene in foreign exchange markets to constrain its appreciation in early 2003. Further fueled by precedent-setting export levels, the country's economy began to recover with output up 5.5% in 2003, unemployment falling, and inflation sliced to 4.2% by year-end 2003."

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