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Argentina: Economy
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All telecom services in Argentina are completely open to competition. A single licence for any type of service is required (either fixed or mobile, wireline or wireless, national or long-distance, with or without own infrastructure). Full liberalisation began in November 2000, and lead to an explosion of new technologies, new services and an influx of new players, but the economic crisis in 2002 had a devastating effect on the telecom industry, forcing telcos to freezes on their debt repayments and investments. The economy picked up in 2003 and telecommunications grew by around 38% in 2004. The biggest growth was in mobile telephony (around 68% increase in subscribers). The Internet ... grew apace, with overall users up by 35%, while broadband subscribers surged by 88%.
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In many ways, Argentina's education system has succeeded in creating a stock of human capital, which, by and large, meets the needs of the economy. Still, the education system has not succeeded in creating human resources, which enable Argentina to develop into a knowledge based economy. Instead the economy continues to be dominated by low-tech, knowledge extensive industries, which consider the current stock of human capital as largely sufficient (as documented by IMD survey data, for example). This assumption receives further support from the fact that a large part of Argentine researchers are unable to find employment. In other words, there is no strong demand for analytical skills, flexibility and the ability to solve problems independently.
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In 1957, Argentina reverted to the constitution of 1853 as modified up to 1898. In 1958, Dr. Arturo Frondizi was elected president. Faced with the economic and fiscal crisis inherited from Perón, Frondizi, with U.S. advice and the promise of financial aid, initiated a program of austerity to “stabilize†the economy and check inflation. Leftists, as well as Peronistas, who still commanded strong popular support, criticized the plan because the burden lay most heavily on the working and lower middle classes.
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Peronist Néstor Kirchner, the former governor of Santa Cruz, became Argentina's president in May 2003, after former president Carlos Menem abandoned the race. Kirchner vowed to aggressively reform the courts, police, and armed services and to prosecute perpetrators of the dirty war. Argentina's economy has been rebounding since its near collapse in 2001, with an impressive growth rate of about 8% since Kirchner took office. In March 2005, Kirchner announced that the country's debt had been successfully restructured. In Jan. 2006, Argentina paid off its remaining multi-million IMF debt early, a dramatic move that not all economists thought was beneficial.
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Jorge Pereyra de Olazabal takes over as Secretary of Industry and Foreign Trade in Argentina. He plans to begin what the US Embassy calls "an extended battle" to open the Argentinean economy to trade.
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"This transaction provides a platform for growth in Argentina," said G. Steven Farris, Apache's president and chief executive officer. "The country has sizable oil and gas reserves, favorable geology, a skilled workforce, an improving economy and increasing energy demand, all of which add up to a good place for Apache to conduct business."
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