: 1600 New Hampshire Avenue NW, Washington, DC 20009
telephone: [1] (202) 238-6400
FAX: [1] (202) 332-3171
consulate(s) general: Atlanta, Chicago, Houston, Los Angeles, Miami,
New York

Diplomatic representation from the US:

chief of mission: Ambassador Earl Anthony WAYNE
embassy: Avenida Colombia 4300, C1425GMN Buenos Aires
mailing address: international mail: use embassy street address; APO
address: US Embassy Buenos Aires, Unit 4334, APO AA 34034
telephone: [54] (11) 5777-4533
FAX: [54] (11) 5777-4240

Flag description:

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
Argentina

Economy - overview:

Argentina benefits from rich natural resources, a highly literate
population, an export-oriented agricultural sector, and a
diversified industrial base. Although one of the world's wealthiest
countries 100 years ago, Argentina suffered during most of the 20th
century from recurring economic crises, persistent fiscal and
current account deficits, high inflation, mounting external debt,
and capital flight. A severe depression, growing public and external
indebtedness, and a bank run culminated in 2001 in the most serious
economic, social, and political crisis in the country's turbulent
history. Interim President Adolfo RODRIGUEZ SAA declared a default -
the largest in history - on the government's foreign debt in
December of that year, and abruptly resigned only a few days after
taking office. His successor, Eduardo DUHALDE, announced an end to
the peso's decade-long 1-to-1 peg to the US dollar in early 2002.
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 subsequent
five years, taking advantage of previously idled industrial capacity
and labor, an audacious debt restructuring and reduced debt burden,
excellent international financial conditions, and expansionary
monetary and fiscal policies. Inflation, however, reached
double-digit levels in 2006 and the government of 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