Compare Argentina (2008) - Argentina (2007)

Compare Argentina (2008) z Argentina (2007)

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	Argentina (2008)	Argentina (2007)

Background	In 1816, the United Provinces of the Rio Plata declared their independence from Spain. After Bolivia, Paraguay, and Uruguay went their separate ways, the area that remained became Argentina. The country's population and culture were heavily shaped by immigrants from throughout Europe, but most particularly Italy and Spain, which provided the largest percentage of newcomers from 1860 to 1930. Up until about the mid-20th century, much of Argentina's history was dominated by periods of internal political conflict between Federalists and Unitarians and between civilian and military factions. After World War II, an era of Peronist authoritarian rule and interference in subsequent governments was followed by a military junta that took power in 1976. Democracy returned in 1983, and has persisted despite numerous challenges, the most formidable of which was a severe economic crisis in 2001-02 that led to violent public protests and the resignation of several interim presidents. The economy has recovered strongly since bottoming out in 2002.	In 1816, the United Provinces of the Rio Plata declared their independence from Spain. Eventually, Bolivia, Paraguay, and Uruguay went their own way, but the area that remained became Argentina. The country's population and culture were subsequently heavily shaped by immigrants from throughout Europe, but most particularly Italy and Spain, which provided the largest percentage of newcomers from 1860 to 1930. Up until about the mid-20th century, much of Argentina's history was dominated by periods of internal political conflict between Federalists and Unitarians and between civilian and military factions. After World War II, an era of Peronist authoritarian rule and interference in subsequent governments was followed by a military junta that took power in 1976. Democracy returned in 1983, and has persisted despite numerous challenges, the most formidable of which was a severe economic crisis in 2001-02 that led to violent public protests and the resignation of several interim presidents. The economy has recovered strongly since bottoming out in 2002. The government renegotiated its public debt in 2005 and paid off its remaining obligations to the IMF in early 2006.
Budget	revenues: $48.99 billion expenditures: $46.87 billion (2007 est.)	revenues: $51.9 billion expenditures: $48.1 billion (2006 est.)
Capital	name: Buenos Aires geographic coordinates: 34 36 S, 58 40 W time difference: UTC-3 (2 hours ahead of Washington, DC during Standard Time) daylight saving time: +1hr, begins first Sunday in October; ends third Saturday in March; note - a new policy of daylight saving time was initiated by the government on 30 December 2007	name: Buenos Aires geographic coordinates: 34 36 S, 58 40 W time difference: UTC-3 (2 hours ahead of Washington, DC during Standard Time)
Debt - external	$118 billion (30 September 2007)	$109.7 billion (2006 est.)
Diplomatic representation in the US	chief of mission: Ambassador (vacant); Charge d'Affaires Jose Luis PEREZ GABILONDO chancery: 1600 New Hampshire Avenue NW, Washington, DC 20009 telephone: [1] (202) 238-6400 FAX: [1] (202) 332-3171 consulate(s) general: Atlanta, Chicago, Houston, Los Angeles, Miami, New York	chief of mission: Ambassador Jose Octavio BORDON chancery: 1600 New Hampshire Avenue NW, Washington, DC 20009 telephone: [1] (202) 238-6400 FAX: [1] (202) 332-3171 consulate(s) general: Atlanta, Chicago, Houston, Los Angeles, Miami, New York
Economy - overview	Argentina benefits from rich natural resources, a highly literate population, an export-oriented agricultural sector, and a diversified industrial base. Although one of the world's wealthiest countries 100 years ago, Argentina suffered during most of the 20th century from recurring economic crises, persistent fiscal and current account deficits, high inflation, mounting external debt, and capital flight. A severe depression, growing public and external indebtedness, and a bank run culminated in 2001 in the most serious economic, social, and political crisis in the country's turbulent history. Interim President Adolfo RODRIGUEZ SAA declared a default - the largest in history - on the government's foreign debt in December of that year, and abruptly resigned only a few days after taking office. His successor, Eduardo DUHALDE, announced an end to the peso's decade-long 1-to-1 peg to the US dollar in early 2002. The economy bottomed out that year, with real GDP 18% smaller than in 1998 and almost 60% of Argentines under the poverty line. Real GDP rebounded to grow by an average 9% annually over the subsequent five years, taking advantage of previously idled industrial capacity and labor, an audacious debt restructuring and reduced debt burden, excellent international financial conditions, and expansionary monetary and fiscal policies. Inflation, however, reached double-digit levels in 2006 and the government of President Nestor KIRCHNER responded with "voluntary" price agreements with businesses, as well as export taxes and restraints. Multi-year price freezes on electricity and natural gas rates for residential users stoked consumption and kept private investment away, leading to restrictions on industrial use and blackouts in 2007.	Argentina benefits from rich natural resources, a highly literate population, an export-oriented agricultural sector, and a diversified industrial base. Although one of the world's wealthiest countries 100 years ago, Argentina suffered during most of the 20th century from recurring economic crises, persistent fiscal and current account deficits, high inflation, mounting external debt, and capital flight. Beginning in 1998, with external debt equivalent to more than 400% of annual exports, the economy slowed and ultimately fell into a full-blown depression; investors' fears grew in the wake of Russia's debt default, Brazil's devaluation, and the political discord caused by then-President Carlos MENEM's unpopular efforts to run for a constitutionally prohibited third term. The government of Fernando DE LA RUA, elected President in late 1999, tried several measures to cut the fiscal deficit and instill confidence and received large IMF credit facilities, but nothing worked to revive the economy. Depositors began withdrawing money from the banks in late 2001, and the government responded with strict limits on withdrawals. When street protests turned deadly, DE LA RUA was forced to resign in December 2001. Interim President Adolfo Rodriguez SAA declared a default - the largest in history - on Argentina's foreign debt, but he stepped down only a few days later when he failed to garner political support from the country's governors. Eduardo DUHALDE became President in January 2002 and announced an end to the peso's decade-long 1-to-1 peg to the US dollar. When the peso depreciated and inflation rose, DUHALDE's government froze utility tariffs, curtailed creditors' rights, and imposed high taxes on exports. The economy rebounded strongly from the crisis, inflation started falling, and DUHALDE called for special elections. Nestor KIRCHNER was elected President, taking office in May 2003, and continued the restrictions imposed by DUHALDE. With the reemergence of double-digit inflation in 2005, the KIRCHNER administration pressured businesses into a series of agreements to hold down prices. The government also restructured its debt in 2005 and paid off its IMF obligations in early 2006, reducing Argentina's external debt burden. Real GDP growth averaged 9% during the period 2003-06, bolstering government revenues and keeping the budget in surplus.
Exchange rates	Argentine pesos per US dollar - 3.1105 (2007), 3.0543 (2006), 2.9037 (2005), 2.9233 (2004), 2.9006 (2003)	Argentine pesos per US dollar - 3.0543 (2006), 2.9037 (2005), 2.9233 (2004), 2.9006 (2003), 3.0633 (2002)
Exports - commodities	soybeans and derivatives, petroleum and gas, vehicles, corn, wheat	edible oils, fuels and energy, cereals, feed, motor vehicles
GDP - composition by sector	agriculture: 6% industry: 29% services: 65% (2007 est.)	agriculture: 8.5% industry: 35.9% services: 55.6% (2006 est.)
GDP - real growth rate	8.5% (2007 est.)	8.5% (2006 est.)
Household income or consumption by percentage share	lowest 10%: 1% highest 10%: 35% (January-March 2007)	lowest 10%: 1% highest 10%: 35% (June 2006)
Imports - commodities	machinery, motor vehicles, petroleum and natural gas, organic chemicals, plastics	machinery and equipment, motor vehicles, chemicals, metal manufactures, plastics
Industrial production growth rate	7% (2007 est.)	8.2% (2006 est.)
Inflation rate (consumer prices)	8.5% official rate; actual rate may be double the official rate (2007 est.)	10.9% (2006 est.)
International organization participation	ABEDA, AfDB, Australia Group, BCIE, BIS, CAN (associate), CPLP (associate), CSN, FAO, G-15, G-24, G-77, IADB, IAEA, IBRD, ICAO, ICC, ICCt, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, LAES, LAIA, Mercosur, MIGA, MINURSO, MINUSTAH, NSG, OAS, OPANAL, OPCW, PCA, RG, UN, UN Security Council (temporary), UNCTAD, UNESCO, UNFICYP, UNHCR, UNIDO, Union Latina (observer), UNTSO, UNWTO, UPU, WCL, WCO, WFTU, WHO, WIPO, WMO, WTO, ZC	ABEDA, AfDB, Australia Group, BCIE, BIS, CAN (associate), CPLP (associate), CSN, FAO, G-6, G-15, G-24, G-77, IADB, IAEA, IBRD, ICAO, ICC, ICCt, ICRM, IDA, IFAD, IFC, IFRCS, IHO, ILO, IMF, IMO, IMSO, Interpol, IOC, IOM, IPU, ISO, ITSO, ITU, ITUC, LAES, LAIA, Mercosur, MIGA, MINURSO, MINUSTAH, NSG, OAS, OPANAL, OPCW, PCA, RG, UN, UN Security Council (temporary), UNCTAD, UNESCO, UNFICYP, UNHCR, UNIDO, Union Latina (observer), UNMOVIC, UNTSO, UNWTO, UPU, WCL, WCO, WFTU, WHO, WIPO, WMO, WTO, ZC
Labor force	16.1 million note: urban areas only (2007 est.)	15.76 million (2006 est.)
Labor force - by occupation	agriculture: 1% industry: 23% services: 76% (2007 est.)	agriculture: NA% industry: NA% services: NA%
Legislative branch	bicameral National Congress or Congreso Nacional consists of the Senate (72 seats; members are elected by direct vote; presently one-third of the members elected every two years to serve six-year terms) and the Chamber of Deputies (257 seats; members are elected by direct vote; one-half of the members elected every two years to serve four-year terms) elections: Senate - last held 28 October 2007 (next to be held in 2009); Chamber of Deputies - last held last held 28 October 2007 (next to be held in 2009) election results: Senate - percent of vote by bloc or party - NA; seats by bloc or party - FV 12, UCR 4, CC 4, other 4; Chamber of Deputies - percent of vote by bloc or party - NA; seats by bloc or party - FV 5, UCR 10, PJ 10, PRO 6, CC 16, FJ 2, other 31; note - Senate and Chamber of Deputies seating reflect the number of replaced senators and deputies, rather than the whole Senate and Chamber of Deputies	bicameral National Congress or Congreso Nacional consists of the Senate (72 seats; members are elected by direct vote; presently one-third of the members elected every two years to serve six-year terms) and the Chamber of Deputies (257 seats; members are elected by direct vote; one-half of the members elected every two years to serve four-year terms) elections: Senate - last held 23 October 2005 (next to be held in 2007); Chamber of Deputies - last held last held 23 October 2005 (next to be held in 2007) election results: Senate - percent of vote by bloc or party - FV 45.1%, FJ 17.2%, UCR 7.5%, other 30.2%; seats by bloc or party - FV 14, FJ 3, UCR 2, other 5; Chamber of Deputies - percent of vote by bloc or party - FV 29.9%, UCR 8.9%, ARI 7.2%, PJ 6.7%, PRO 6.2%, FJ 3.9%, other 37.2%; seats by bloc or party - FV 50, UCR 10, PJ 9, PRO 9, ARI 8, FJ 7, other 34; note - Senate and Chamber of Deputies seating reflect the number of replaced senators and deputies, rather than the whole Senate and Chamber of Deputies
Pipelines	gas 28,657 km; liquid petroleum gas 41 km; oil 5,607 km; refined products 3,052 km; unknown (oil/water) 13 km (2007)	gas 29,804 km; liquid petroleum gas 41 km; oil 10,373 km; refined products 8,540 km; unknown (oil/water) 13 km (2006)
Political parties and leaders	Coalicion Civica (a broad coalition loosely affiliated with Elisa CARRIO); Front for Victory or FV (a broad coalition, including elements of the UCR and numerous provincial parties) [Cristina FERNANDEZ DE KIRCHNER]; Interbloque Federal or IF (a broad coalition of approximately 12 parties including PRO); Justicialist Front or FJ; Justicialist Party or PJ (Peronist umbrella political organization); Radical Civic Union or UCR [Gerardo MORALES]; Republican Proposal or PRO (including Federal Recreate Movement or RECREAR [Ricardo LOPEZ MURPHY] and Commitment for Change or CPC [Mauricio MACRI]); Socialist Party or PS [Ruben GIUSTINIANI]; Union For All [Patricia BULLRICH]; several provincial parties	Affirmation for an Egalitarian Republic or ARI [Elisa CARRIO]; Front for Victory or FV [Nestor KIRCHNER]; Interbloque Federal or IF (a broad coalition of approximately 12 parties including PRO); Justicialist Front or FJ; Justicialist Party or PJ (Peronist umbrella political organization); Radical Civic Union or UCR [Gerardo MORALES]; Republican Proposal or PRO (including Federal Recreate Movement or RECREAR [Ricardo LOPEZ MURPHY] and Commitment for Change or CPC [Mauricio MACRI]); Socialist Party or PS [Ruben GIUSTINIANI]; Union For All [Patricia BULLRICH]; several provincial parties
Population below poverty line	23.4% (January-June 2007)	26.9% (July-December 2006)
Unemployment rate	8.9% (2007 est.)	8.7% (2006 est.)

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