Place Credit Reports Argentina Order
 |
|
|
 |
Economy Overview:
Argentina benefits from rich natural resources, a highly literate
population, an export-oriented agricultural sector, and a diversified
industrial base. Over the past decade, however, the country has suffered
problems of inflation, external debt, capital flight, and budget
deficits. Growth in 2000 was a negative 0.8%, as both domestic and
foreign investors remained skeptical of the government's ability to pay
debts and maintain the peso's fixed exchange rate with the US dollar.
The economic situation worsened in 2001 with the widening of spreads on
Argentine bonds, massive withdrawals from the banks, and a further
decline in consumer and investor confidence. Government efforts to
achieve a "zero deficit," to stabilize the banking system, and to
restore economic growth proved inadequate in the face of the mounting
economic problems. The peso's peg to the dollar was abandoned in January
2002, and the peso was floated in February. The exchange rate plunged
and real GDP fell by 10.9% in 2002, but by mid-year the economy had
stabilized, albeit at a lower level. GDP expanded by about 9% per year
from 2003 to 2005. Growth is being led by a revival in domestic demand,
solid exports, and favorable external conditions. The government boosted
spending ahead of the October 2005 midterm congressional elections, but
strong revenue performance allowed Argentina to maintain a budget
surplus. Inflation has been rising steadily and reached 12.3 percent in
2005.
GCS and Graydon International
Graydon International is a leading provider of business credit information around the world. Their business credit reports are easily read in English and consist of reliable and up to date details like identification and official company specifications, credit recommendations, known directors, protest and non-payments, operational details and financial data (profit and loss, balance and key credit ratios).
To see what GCS can do for you, please submit your query for a 'no obligation' free quote.
|