Argentina is a land of rich cultural and national heritage, and significant geographical diversity, which attracts visitors from around the world. The strategic importance of the country’s capital, Buenos Aires, whose port remains a significant trading centre both regionally and internationally, became the administrative centre of the Viceroyalty of Peru under Spanish rule in the late 18th and early 19th century. Today, despite being one of the largest economies in Latin America, Argentina has…
From The Report: Argentina 2018
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Today, despite being one of the largest economies in Latin America, Argentina has suffered serious economic crises over the past two decades, which have stymied its growth, constricted foreign direct investment into its productive sectors and limited the country’s ability to harness its vast natural resources. The country’s economy is driven by the oil and gas industry, boasting significant onshore, offshore and shale oil and gas reserves, alongside its agricultural and livestock industries. On the regional and global stage Argentina has a high profile, where it currently chairs the G20 and is an observer member of the Pacific Alliance, while aspiring towards OECD membership. However, with the government having been granted a $50bn bailout from the IMF in June 2018, the spectre of economic crisis and indebtedness looks to have reappeared, just at a time when investors appeared to be showing renewed interest in the country following the election victory of pro-business President Mauricio Macri in October 2015. This chapter contains interviews with President Mauricio Macri; Jorge Faurie, Minister of Foreign Affairs and Worship; Steven Ciobo, Minister for Trade, Tourism and Investment, Australia; and a viewpoint with Luis Alberto Moreno, President, Inter-American Bank of Development.