The other Argentina.

Position:Brief article


Marches, demonstrations in the streets, unexpected or scheduled strikes, negative articles in national newspapers, complaints from the vast majority of the middle class and inflation that currently exceeds 22 percent (which differs by a wide margin from official statistics). This is the first image many see of Argentina. But the macroeconomic figures show a different country. Argentina has grown from an average of 0.6 percent in the 1990s during the conversion of the peso to the dollar to an average of 7.6 percent between 2003 and 2010. Its foreign debt dropped from $105.8 billion, or 163.2 percent of GDP in 2003, to $55 billion or 38.4 percent of GDP in 2009, and international reserves grew during that same period from $10.4 billion to $46.3 billion. With low unemployment, which peaked at 22.4 percent in 2002 and closed at 7.7...

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