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Senate

      Political parties and leaders: Justicialist Party (PJ), Carlos Saul MENEM, Peronist umbrella political organization; Radical Civic Union (UCR), Rodolfo TERRAGNO, moderately left-of-center party; Union of the Democratic Center (UCD), conservative party; Dignity and Independence Political Party (MODIN), Aldo RICO, right-wing party; Grand Front (Frente Grande), Carlos ALVAREZ, center-left coalition; Front for a Country in Solidarity (Frepaso, a four party coalition), leader Jose Octavio BORDON; several provincial parties

      Other political or pressure groups: Peronist-dominated labor movement; General Confederation of Labor (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, ILO, IMF, IMO, Inmarsat, Intelsat, Interpol, IOC, IOM,

       ISO, ITU, LAES, LAIA, Mercosur, MINURSO, MTCR, NSG (observer), OAS,

       OPANAL, PCA, RG, UN, UN Security Council (temporary), UNAMIR, UNAVEM

       III, UNCRO, UNCTAD, UNESCO, UNFICYP, UNHCR, UNIDO, UNIKOM, UNITAR,

       UNMIH, UNTSO, UNU, UPU, WCL, WFTU, WHO, WIPO, WMO, WToO, WTrO

      Diplomatic representation in 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

       consulate(s) general: Atlanta, Chicago, Houston, Los Angeles, Miami,

       New Orleans, New York, San Francisco, and San Juan (Puerto Rico)

      US diplomatic representation:

       chief of mission: Ambassador James R. CHEEK

       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: 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———

      Economic overview: Argentina, rich in natural resources, benefits also from 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 20 years. Argentines have responded to the relative price stability by repatriating flight capital and investing in domestic industry. After registering impressive 7.4% growth in 1994, based largely on inflows of foreign capital and strong domestic consumption, the Argentine economy stumbled in 1995 as financial pressures fueled by the Mexican peso crisis and political squabbling within the MENEM administration undermined investor confidence and triggered capital outflows. By yearend, GDP had contracted 4.4%, unemployment reached 16%, and Buenos Aires struggled to meet fiscal targets. On the trade front, exports soared during the first half of 1995 - largely because of strong demand in Brazil and high commodity prices - while anemic domestic consumption lowered imports; the resulting yearend trade surplus was about $1.2 billion. However, because exports contribute only 7.5% to GDP, increased foreign sales had little impact on aggregate growth. High unemployment will continue to plague the MENEM administration for the next several years as provincial entities are readied for privatization and more public sector employees are laid off.

      GDP: purchasing power parity - $278.5 billion (1995 est.)

      GDP real growth rate: −4.4%

      GDP per capita: $8,100 (1995 est.)

      GDP composition by sector: agriculture: 6% industry: 31% services: 63% (1992 est.)

      Inflation rate (consumer prices): 1.7% (1995 est.)

      Labor force: 10.9 million by occupation: agriculture 12%, industry 31%, services 57% (1985 est.)

      Unemployment rate: 16% (1995 est.)

      Budget:

       revenues: $48.46 billion

       expenditures: $46.5 billion, including capital expenditures of $3.5

       billion (1994 est.)

      Industries: food processing, motor vehicles, consumer durables,

       textiles, chemicals and petrochemicals, printing, metallurgy, steel

      Industrial production growth rate: −4.6% (1995 est.)

      Electricity: capacity: 17,330,000 kW production: 54.8 billion kWh consumption per capita: 1,610 kWh (1993)

      Agriculture: wheat, corn, sorghum, soybeans, sugar beets; livestock

      Illicit drugs: increasing use as a transshipment country for cocaine headed for Europe and the US

      Exports: $20.7 billion (f.o.b., 1995) commodities: meat, wheat, corn, oilseed, manufactures partners: US 9%, Brazil, Italy, Japan, Netherlands

      Imports: $19.5 billion (c.i.f., 1995) commodities: machinery and equipment, chemicals, metals, fuels and lubricants, agricultural products partners: US 21%, Brazil, Germany, Bolivia, Japan, Italy, Netherlands

      External debt: $90 billion (December 1995)

      Economic aid: $NA

      Currency: 1 nuevo peso argentino = 100 centavos

      Exchange rates: pesos per US$1 - 1.00000 (January 1996), 0.99975 (1995), 0.99901 (1994), 0.99895 (1993), 0.99064 (1992), 0.95355 (1991)

      Fiscal year: calendar year

      Transportation———————

      Railways:

       total: 37,910 km

       broad gauge: 24,124 km 1.676-m gauge (142 km electrified)

       standard gauge: 2,765 km 1.435-m gauge

       narrow gauge: 11,021 km 1.000-m gauge (26 km electrified)

      Highways: total: 215,578 km paved: 61,440 km unpaved: 154,138 km

      Waterways: 11,000 km navigable

      Pipelines: crude oil 4,090 km; petroleum products 2,900 km; natural gas 9,918 km

      Ports: Bahia Blanca, Buenos Aires, Comodoro Rivadavia, Concepcion

       del Uruguay, La Plata, Mar del Plata, Necochea, Rio Gallegos,

       Rosario, Santa Fe, Ushuaia

      Merchant marine:

       total: 37 ships (1,000 GRT or over) totaling 303,448 GRT/458,864 DWT

       ships by type: bulk 1, cargo 11, chemical tanker 1, container 3, oil

       tanker 14, railcar carrier 1, refrigerated cargo 5, roll-on/roll-off

       cargo 1 (1995 est.)

      Airports:

       total: 1,253

       with paved runways over 3 047 m: 5

       with paved runways 2 438 to 3 047 m: 25

       with paved runways 1 524 to 2 437 m: 54

       with paved runways 914 to 1 523 m: 46

       with paved runways under 914 m: 511

       with unpaved runways

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