Argentina

Economic overview:

Argentina’s economy benefits from a highly literate population, an strong agricultural sector, and an divisified industrial sector. In 2000 the economy took a step backwards as the peso could not keep up with the US dollar. It worsened in 2001 with a decline in confidence of consumers and investors alike. In 2002 the peso’s peg to the dollar was abandoned, the exchange rate plunged and inflation picked up. But by mid 2002 the economy had stabilized at a lower level, in led by record exports the economy was up 5.5% in 2003, inflation lowered to 4.3% a year and the unemployment rate started falling.