The Economy of Argentina

Argentina’s currency is the Peso.

The bills are 2,5,10,50,and 100 pesos.

Coins are: 1, 5, 10, 25 and 50 cents, and 1 peso.

The natural resources of Argentina are: agriculture, livestock and fishing.

Main group of exports are soy, also corn, wheat, and cattle products.

Second group of exports are petroleum, natural gas, and petrochemical products.

In 2002 the value of the Argentinean currency plummet and the country defaulted in their external debt. Poverty reached 57% of the population, a record level in Argentina.

At the end of 2002 recession was halted and since 2003 there has been economic growth.

After long negotiations regarding external debt in 2005, Argentina is meeting its external commitments once again.