The 1992 CIA World Factbook. United States. Central Intelligence Agency

MENEM, Peronist umbrella political

       organization; Radical Civic Union (UCR), Mario LOSADA, moderately left of

       center; Union of the Democratic Center (UCD), Jorge AGUADO, conservative

       party; Intransigent Party (PI), Dr. Oscar ALENDE, leftist party; several

       provincial parties

       Suffrage:

       universal at age 18

       Elections:

       Chamber of Deputies:

       last held in three phases during late 1991 for half of 254 seats, total

       current breakdown of seats - JP 122, UCR 85, UCD 10, other 37

       President:

       last held 14 May 1989 (next to be held NA May 1995); results - Carlos Saul

       MENEM was elected

       Senate:

       last held May 1989, but provincial elections in late 1991 set the stage for

       indirect elections by provincial senators for one-third of 46 seats in the

       national senate in May 1992; total current breakdown of seats - JP 27, UCR

       14, others 5

       Communists:

       some 70,000 members in various party organizations, including a small

       nucleus of activists

      :Argentina Government

      Other political or pressure groups:

       Peronist-dominated labor movement, General Confederation of Labor

       (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

       Member of:

       AfDB, AG (observer), CCC, ECLAC, FAO, G-6, G-11, G-15, G-19, G-24, G-77,

       GATT, IADB, IAEA, IBRD, ICAO, ICC, ICFTU, IDA, IFAD, IFC, ILO, IMF, IMO,

       INMARSAT, INTELSAT, INTERPOL, IOC, IOM, ISO, ITU, LAES, LAIA, LORCS,

       MERCOSUR, OAS, PCA, RG, UN, UNAVEM, UNCTAD, UNESCO, UNHCR, UNIDO, UNIIMOG,

       UNTSO, UPU, WCL, WFTU, WHO, WIPO, WMO, WTO

       Diplomatic representation:

       Ambassador Carlos ORTIZ DE ROZAS; Chancery at 1600 New Hampshire Avenue NW,

       Washington, DC 20009; telephone [phone] through 6403; there are

       Argentine Consulates General in Houston, Miami, New Orleans, New York, San

       Francisco, and San Juan (Puerto Rico), and Consulates in Baltimore, Chicago,

       and Los Angeles

       US:

       Ambassador Terence A. TODMAN; Embassy at 4300 Colombia, 1425 Buenos Aires

       (mailing address is APO AA 34034); telephone [54] (1) 774- 7611 or 8811,

       9911; Telex 18156 AMEMBAR

       Flag:

       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

      :Argentina Economy

      Overview:

       Argentina is rich in natural resources and has a highly literate population,

       an export-oriented agricultural sector, and a diversified industrial base.

       Nevertheless, following decades of mismanagement and statist policies, the

       economy has encountered major problems in recent years, leading to

       escalating inflation and a recession during 1988-90. Since 1978, Argentina's

       external debt has nearly doubled to $58 billion, creating severe debt

       servicing difficulties and hurting the country's creditworthiness with

       international lenders. Elected in 1989, President Menem has implemented a

       comprehensive economic restructuring program that shows signs of reversing

       Argentina's economic decline and putting it on a path of stable, sustainable

       growth.

       GDP:

       exchange rate conversion - $101.2 billion, per capita $3,100; real growth

       rate 5.5% (1991 est.)

       Inflation rate (consumer prices):

       83.8% (1991)

       Unemployment rate:

       6.4% (October 1991)

       Budget:

       revenues $13.6 billion; expenditures $16.6 billion, including capital

       expenditures of $2.5 billion (1991)

       Exports:

       $12 billion (f.o.b., 1991)

       commodities:

       meat, wheat, corn, oilseed, hides, wool

       partners:

       US 12%, USSR, Italy, Brazil, Japan, Netherlands

       Imports:

       $8 billion (c.i.f., 1991)

       commodities:

       machinery and equipment, chemicals, metals, fuels and lubricants,

       agricultural products

       partners:

       US 22%, Brazil, FRG, Bolivia, Japan, Italy, Netherlands

       External debt:

       $61 billion (January 1992)

       Industrial production:

       growth rate 20% (1991 est.); accounts for 30% of GDP

       Electricity:

       17,059,000 kW capacity; 47,357 million kWh produced, 1,450 kWh per capita

       (1991)

       Industries:

       food processing, motor vehicles, consumer durables, textiles, chemicals and

       petrochemicals, printing, metallurgy, steel

       Agriculture:

       accounts for 15% of GNP (including fishing); produces abundant food for both

       domestic consumption and exports; among world's top five exporters of grain

       and beef; principal crops - wheat, corn, sorghum, soybeans, sugar beets

       Illicit drugs:

       increasing use as a transshipment country for cocaine headed for the US and

       Europe

       Economic aid:

       US commitments, including Ex-Im (FY70-89), $1.0 billion; Western (non-US)

       countries, ODA and OOF bilateral commitments (1970-89), $4.4 billion;

       Communist countries (1970-89), $718 million

       Currency:

       peso (plural - pesos); 1 pesos = 100 centavos

      :Argentina Economy

      Exchange rates:

       pesos per US$1 - 0.99076 (Feburary 1992), 0.95355 (1991), 0.48759 (1990),

       0.04233 (1989), 0.00088 (1988), 0.00021 (1987)

       Fiscal year:

       calendar year

      :Argentina Communications

      Railroads:

       34,172 km total (includes 209 km electrified); includes a mixture of