Political pressure groups and leaders: Peronist-dominated labor movement; General Confederation of Labor or CGT (Peronist-leaning umbrella labor organization); Argentine Industrial Union (manufacturers' association); Argentine Rural Society (large landowners' association); business organizations; students; the Roman Catholic Church; the Armed Forces
International organization participation: AfDB, AG (observer),
Australia Group, BCIE, CCC, ECLAC, FAO, G- 6, G-11, G-15, G-19, G-24,
G-77, IADB, IAEA, IBRD, ICAO, ICC, ICFTU, ICRM, IDA, IFAD, IFC, IFRCS,
IHO, ILO, IMF, IMO, Inmarsat, Intelsat, Interpol, IOC, IOM, ISO, ITU,
LAES, LAIA, Mercosur, MINURSO, MTCR, NSG (observer), OAS, OPANAL, PCA,
RG, UN, UNAVEM III, UNCTAD, UNESCO, UNFICYP, UNHCR, UNIDO, UNIKOM,
UNITAR, UNMIBH, UNMOP, UNPREDEP, UNTAES, UNTSO, UNU, UPU, WCL, WFTU,
WHO, WIPO, WMO, WToO, WTrO
Diplomatic representation in the US: chief of mission : Ambassador Raul Enrique GRANILLO OCAMPO chancery: 1600 New Hampshire Avenue NW, Washington, DC 20009 telephone: [1] (202) 939-6400 through 6403 FAX: [1] (202) 332-3171 consulate(s) general : Atlanta, Chicago, Houston, Los Angeles, Miami, New Orleans, New York, San Francisco, and San Juan (Puerto Rico)
Diplomatic representation from the US: chief of mission: Ambassador James R. CHEEK has returned to Washington; replacement not yet appointed embassy: 4300 Colombia, 1425 Buenos Aires mailing address : Unit 4334, APO AA 34034 telephone: [54] (1) 777-4533, 4534 FAX : [54] (1) 777-0197
Flag description: three equal horizontal bands of light blue (top), white, and light blue; centered in the white band is a radiant yellow sun with a human face known as the Sun of May
Economy
Economy - overview: Argentina benefits from rich natural resources, a highly literate population, an export-oriented agricultural sector, and a diversified industrial base. Nevertheless, following decades of mismanagement and statist policies, the economy in the late 1980s was plagued with huge external debts and recurring bouts of hyperinflation. Elected in 1989, in the depths of recession, President MENEM has implemented a comprehensive economic restructuring program that shows signs of putting Argentina on a path of stable, sustainable growth. Argentina's currency has traded at par with the US dollar since April 1991, and inflation has fallen to its lowest level in 50 years. Argentines have responded to price stability by repatriating capital and investing in domestic industry. Growth averaged more than 8% between 1991 and 1994, then fell to 4.6% in 1995, largely in reaction to the Mexican peso crisis. The economy grew at 4.4% in 1996, with the strongest growth occurring in the second half of the year. Unemployment increased slightly - to over 17% - and Buenos Aires was forced to renegotiate fiscal targets with the IMF. Although the economy is expected to grow by at least 5% in 1997, unemployment and fiscal concerns will continue to challenge the MENEM administration.
GDP: purchasing power parity - $296.9 billion (1996 est.)
GDP - real growth rate: 4.4% (1996)
GDP - per capita: purchasing power parity - $8,600 (1996 est.)