Timothy L. Gall's Worldmark Encyclopedia of the Nations, Americas PDF

By Timothy L. Gall

ISBN-10: 0787673331

ISBN-13: 9780787673338

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Construction activity was boosted by infrastructure projects associated with the privatization. Sweeping privatization and a wave of investment, both foreign and local, modernized old industries and nourished new ones. Farmers started to plant more profitable products, such as garlic, fruit, and olives. A new mining code brought foreign investment to a long-neglected sector. Oil and gas output doubled, attracting investment in petrochemicals, while MERCOSUR encouraged a boom of car exports. A recession in 1999 caused capital flight and high interest rates.

Sweeping privatization and a wave of investment, both foreign and local, modernized old industries and nourished new ones. Farmers started to plant more profitable products, such as garlic, fruit, and olives. A new mining code brought foreign investment to a long-neglected sector. Oil and gas output doubled, attracting investment in petrochemicals, while MERCOSUR encouraged a boom of car exports. A recession in 1999 caused capital flight and high interest rates. Consumption was slow to pick up, and unemployment remained at around 12%.

Observers believe that there will be further reductions in the number of insurance companies as consolidation of the industry and the quest for economies of scale and critical mass continues. Observers expect the Argentine life market to develop significantly, especially under stable currency conditions. 5 billion in life insurance premiums written in Argentina. 35 PU BLI C FI NA NC E Beginning in 1970, Argentina’s budget picture steadily worsened. By the late 1970s, deficit spending annually ranged from 10–14% of GDP, and topped 15% in the early 1980s, when public expenditures consumed some 40% of GDP.

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Worldmark Encyclopedia of the Nations, Americas by Timothy L. Gall


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