ganization participation: AfDB, AsDB, Australia
Group, BIS, CCC, CE, CERN, EAPC, EBRD, ECE, ECLAC, EIB, EMU, ESA,
EU, FAO, IADB, IAEA, IBRD, ICAO, ICC, ICFTU, ICRM, IDA, IEA, IFAD,
IFC, IFRCS, IHO, ILO, IMF, IMO, Inmarsat, Intelsat, Interpol, IOC,
IOM (observer), ISO, ITU, LAIA (observer), MTCR, NAM (guest), NATO,
NEA, NSG, OAS (observer), OECD, OPCW, OSCE, PCA, UN, UNCTAD, UNESCO,
UNHCR, UNIDO, UNMIBH, UNU, UPU, WCL, WEU, WHO, WIPO, WMO, WToO,
WTrO, ZC

Diplomatic representation in the US:
chief of mission: Ambassador Antonio OYARZABAL MARCHESI
chancery: 2375 Pennsylvania Avenue NW, Washington, DC 20037
consulate(s) general: Boston, Chicago, Houston, Los Angeles, Miami,
New Orleans, New York, San Francisco, and San Juan (Puerto Rico)

Diplomatic representation from the US:
chief of mission: Ambassador Edward L. ROMERO
embassy: Serrano 75, 28006 Madrid
mailing address: APO AE 09642
consulate(s) general: Barcelona

Flag description: three horizontal bands of red (top), yellow
(double width), and red with the national coat of arms on the hoist
side of the yellow band; the coat of arms includes the royal seal
framed by the Pillars of Hercules, which are the two promontories
(Gibraltar and Ceuta) on either side of the eastern end of the
Strait of Gibraltar

Economy

Economy--overview: Spain's mixed capitalist economy supports a GDP
that on a per capita basis is three-fourths that of the four leading
West European economies. Its center-right government successfully
worked to gain admission to the first group of countries launching
the European single currency on 1 January 1999. The deficit-to-GDP
ratio is 2.1%, the debt-to-GDP ratio is around 68%, and inflation is
approximately 2%. Moreover, the AZNAR administration has continued
to advocate liberalization, privatization, and deregulation of the
economy and has introduced some tax reforms to that end.
Unemployment, nonetheless, remains the highest in the EU at 20%. The
government, for political reasons, has made only limited progress in
changing labor laws or reforming pension schemes, which are key to
the sustainability of both Spain's internal economic advances and
its competitiveness in a single currency area. Adjustment to the
monetary and other economic policies of an integrated Europe will
pose difficult challenges to Spain in the next few years.

GDP: purchasing power parity--$645.