Colgate-Palmolive

Economic

Argentina has several natural resources they benefit from, they have a high population, and they are export oriented in the agricultural sector, which has helped them to be diverse in their industrial base. Argentina is one of the wealthiest countries. Argentina has suffered during the 20th century; this has been a recurring crisis that has been persistent for the fiscal and the current account deficits, high inflation, mounting external debts and capital flight.

In 2001, there was a severe depression in Argentina that affected the public and external indebtedness. This was the most serious economic, social, and political crisis in the country's disturbance history. At the time, there was an Interim President, his name was Adolfo Rodriguez SAA, and he declared default. This was the largest in the city, for the government's foreign debt in December of that year, and abruptly resigned only a few days after taking office. In 2002, Adolfo Rodriguez's successor, Eduardo Duhalde announced an end to the pesos 1 to 1 to the US dollar.

After Argentina took hold to Eduardo Dehuald's change, 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 past five years, taking advantage of the industrial capacity and labor, this debt restructuring and reduced debt burden, excellent international financial conditions, and expansionary monetary and fiscal policies.

In 2006, inflation, reached double-digit levels. The government and The 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.

Political

With all of this in mind, Argentina's political arena, Coalicion Civica; Front for Victory; Interbloque Federal (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. Argentine Association of Pharmaceutical Labs (CILFA); Argentine Industrial Union (manufacturers' association); Argentine Rural Confederation or CRA (small to medium landowners' association); Argentine Rural Society (large landowners' association); Central of Argentine Workers or CTA (a radical union for employed and unemployed