A REPORT ON

ARGENTINA COUNTRY
Submitted to

Sheetal Thomas
Prepared by

RIYA AKBARI
BBA THIRD YEAR

BM357.2 International Financial System(IFS)

INDUKAKA IPCOWALA INSTITUTE OF MANAGMENT(I2IM)

CHAROTAR UNIVERSITY OF SCIENCE AND TECHNOLOGY(CHARUSAT)

INTRODUCTION AND HISTORY OF ARGENTINA

Argentina is a country in the southern half of South America. Argentina covers
an area of 2,780,400 km? (1,073,500 sq mi), B] making it the second-largest
country in South America after Brazil, the fourth-largest country in the
Americas, and the eighth-largest country in the world. It shares the bulk of the
Southern Cone with Chile to the west, and is also bordered by Bolivia and
Paraguay to the north, Brazil to the northeast, Uruguay and the South Atlantic
Ocean to the east, and the Drake Passage to the south. Argentina is a federal
state subdivided into twenty-three provinces, and one autonomous city, which
is the federal capital and largest city of the nation, Buenos Aires. The provinces
and the capital have their own constitutions, but exist under a federal system.
Argentina claims sovereignty over the Falkland Islands, South Georgia and the
South Sandwich Islands, and a part of Antarctica.

The Spanish arrived in 1516 and ruled the country for 300 years. In 1806, a
British force overpowered Spanish military in Buenos Aires and attacked the
Malvinas Islands, also called the Falkland Islands. Local residents recaptured
the capital, but never regained control of the islands. These events led to the
loosening of Spain's grip on Argentina. In 1810, Napoleon's forces conquered
all major Spanish cities in Spain and the Argentine people were empowered to
take control of their country. They gained independence in 1816. In 1946, Juan
Perón became president due to his popularity with the working class. His wife,
Eva, known as Evita, formed a foundation and gave out cash and benefits to
the poor. When she died of cancer in 1952, the people were very sad. She was
a symbol of hope to all the poor in Argentina. Juan Perón was forced out of
office after he tried to increase his powers. Even after he left office, his
followers continued to fight for political power. After many violent years and
near civil war, Perón was re-elected president and his new wife, Isabel, became
vice president. He died suddenly and Isabel became president and soon the
country's economy fell apart. The military took control of the country in 1976,
and a period of violence called the "dirty war" ensued, during which as many
as 20,000-30,000 revolutionaries or sympathizers were killed. In 1982, the
president of Argentina, General Leopoldo Galtieri invaded the Falkland Islands
off the coast in the Atlantic Ocean thinking the British wouldn't put up a fight.
Galtieri miscalculated and British forces won an easy victory. After the defeat,
the country moved toward democracy and civilian rule.

PEOPLE AND CULTURE

Unlike Mexico and South American countries such as Peru and Ecuador,
Argentina has fewer native people and a large population, which came from
Europe. The population is comprised as much as 95% of people of European
descent, mostly from Italy, Spain, and Germany. Much of the native population
died from diseases brought in by Europeans. Nearly half of the population lives
in the area around Buenos Aires. Buenos Aires has been called the "Paris of
South America," because of the European influences. The people are well-
educated and 97% of the population can read and write. Soccer is the favourite
sport in Argentina. Gauchos, like American cowboys, have been a symbol of
the open plains of the Pampas region.

 The current population of Argentina is46,219,484 as of Thursday,

December 22, 2022, based on Worldometer elaboration of the
latest United Nations data.
 Argentina 2020 population is estimated at 45,195,774 people at
mid year according to UN data.
 Argentina population is equivalent to 0.58% of the total world
population.
 Argentina ranks number 32 in the list of countries (and
dependencies) by population.
 The population density in Argentina is 17 per Km2 (43 people per
mi2).
 The total land area is 2,736,690 Km2 (1,056,641 sq. miles)
 92.8% of the population is urban (41,919,857 people in 2020)
 The median age in Argentina is 31.5 years.

ECONOMIC INDICATORS OF ARGENTINA

 GDP

GDP $630.7 billion(nominal,2022)

$1.207 billion(PPP,2022)
GDP Rank 24th(nominal,2022)
29th(PPP,2022)
GDP Growth -2.5%(2018)
-2.1%(2019)
-9.9%(2020)
+10.4%(2021)
+4.0%(2022)
GDP Per capita $13,622(nominal,2022)
$26,074(PPP,2022)
GDP Per capita Rank 67th(nominal,20220
67th(PPP,2022)
GDP by sector Agriculture, forestry, and fishing:
6.0% mining: 3.6%
manufacturing: 17.2%
construction: 5.6% commerce
and tourism:
16.9%
 transport, communications, and
utilities: 7.9% government: 9.5%
business, social and other
services: 33.3%.(2015)

 MAJOR INDUSTRY

Food Processing and beverages

Motor vehicles and auto parts
Appliance and electronics
Machinery and equipment
Chemicals
Pharmaceuticals
Glass
Steel and Aluminum
Cement
Textiles
Tabacco Products
Publishing
Furniture
Leather

 EMPLOYMENT OPPORTUNITIES IN ARGENTINA

HR Service partner
Accounting Analyst
Product Engineer
Financial Analyst
Infra. Technology Specialist
Internal Auditor
Pipeline Data Analyst
Clinical Trial Manager
Supply Chain Analyst
Software Engineer in Test
Legal Associate Director
 AGRICULTURE IN ARGENTINA
Argentina is one of the world’s major exporters of soybeans and wheat,
as well as meat. It is also one of the largest producers of wool and wine,
but most of its wine is consumed domestically. Although agriculture is an
important source of export earnings, it now accounts for a small
percentage of the overall GDP, and it employs only a tiny portion of the
nation’s workforce. Wheat is Argentina’s largest crop in harvested land
area, and it is the main crop in the cattle-raising southern Pampas of
Buenos Aires and La Pampa provinces. Wheat and corn (maize)
dominate in the north. Planting of corn and wheat began simultaneously
in the northern Pampas. By the end of World War II, however, foreign
competition had cut Argentine corn production in half, and production
has increased only gradually since then. About half of the corn produced
is used for livestock feed. The total area of the Pampas planted in
sorghum and soybeans has grown since 1960 to rank just behind that of
wheat and corn. These crops also serve primarily as livestock feed and
are valuable for export. Another crop of the northern Pampas is flax.

 MAJOR FUEL
Argentina's total primary energy mix is dominated by natural gas (55%)
and oil (33%), with bioenergy contributing 5%, and hydropower and
nuclear another 3% each. Argentina has the 2nd largest reserve of shale
gas and the 4th largest reserve of shale oil worldwide. In 2019, the
country produced 500,000 bpd of oil, of which 89,000 bpd was exported,
but the country remains a net importer of oil products.
 SOCIAL INDICATORS

 WORKING HOURS AND DAYS

Under employment law in Argentina, a standard working week should

be no longer than 48 hours long, with each working day lasting eight
hours. All workers are entitled to a break of 35 consecutive hours each
week, usually beginning at 13:00 on Saturday unless their role
specifically demands weekend hours. Should an employee work more
than 48 hours in a given week, by law they must receive additional pay
proportionate to the extra time worked. Note that in Argentina, there
are generally around 15 national holidays that fall on weekdays each
calendar year.

 PER HOURS WAGES

The minimum wage has been revised in Argentina from 01 September

2022. The new national minimum wage has increased from
ARS47,850.00 to ARS51,200.00 per month. This minimum wage increase
might not reflect the inflationary trends. Argentina's Minimum Wage is
the lowest amount a worker can be legally paid for his work. Most
countries have a nation-wide minimum wage that all workers must be
paid. Argentina's minimum wage rate is 8,060. Argentine pesos a month,
for a maximum of 192 hours worked per month, for all workers. This
monthly total is paid 13 times Per year. Argentina's minimum wage was
last changed in 1-Jan-2017.

 ENTERPRENEURSHIP OPPORTUNITIES

Start a subscription box business

Start a niche blog
Start an outsourcing business
Start a taxi cab company
Start a catering business
 Start a dropshipping business
Start a web design and online marketing business
Start a technology consulting business

 LIVING COST
Milk(1 liter)=0.79$
Fresh white bread(500g)=1.07$
Rice(1kg)=0.89$
Cappuccino=1.69$
Water=0.81$
Eggs(12)=1.40$
Local Cheese(1g)=6.25$
Apples(1kg)=1.44$
Banana(1kg)=1.26$
Tomato(1kg)=1.38$
Potato(1kg)=0.68$
onion(1kg)=0.76$
Cigarettes 20 pack=2.00$

 MEDICAL EXPENSES

Argentina's health care system is composed of a universal health care

system and a private system. The government maintains a system of
public medical facilities that are universally accessible to everyone in the
country, but formal sector workers are also obligated to participate in
one of about 300 labour union-run health insurance schemes, which
offer differing levels of coverage. Private medical facilities and health
insurance also exist in the country. The Ministry of Health (MSAL),
oversees all three subsectors of the health care system and is
responsible for setting of regulation, evaluation and collecting statistics.

 GOVERMENTAL HELP/SCHEMES

The government of Argentina, within the framework of a federal system,

is a presidential representative democratic republic. The President of
 Argentina is both head of state and head of government. Executive
power is exercised by the President. Legislative power is vested in the
National Congress. The Judiciary is independent from the Executive and
from the Legislature, and is vested in the Supreme Court and the lower
national tribunals.

BANKING SYSTEM

 MAJOR BANK
Santander Rio
Banco de la nacion Argentina
BBVA Frances
Bank of the province of Buenos Aires
Banco de Brasil
BNP Paribas
HSBC Bank Argentina
Banco Hipotecario
Banco de Cardoba
Citibank Argentina

 RELATED FINANCIAL SERVICES

Saving Accounts
Money Market Accounts
Certificates of Deposit
Mortgages
Home Equity Loans
Auto Loans
Personal Loan
Debit Card
ATM Card
Money Orders
Safe Deposit boxes
Foreign Currency Exchange
 TOURISM

 MAJOR TOURIST DESTINATIONS

Iguazu Falls
Teatro Colon
Mendoza
Perito Moreno Glacier
Recoleta Cemetery
Buenos Aires
Ushuaia
Tierra del Fuego National park
Quebrada de Humahuaca
Valdes Peninsula
Plaza de Mayo
Jardin Japones
Fitz Roy

 TOTAL TOURISTS PER ANNUM

YEAR Number of Receipts % of GNP Receipts per

tourists tourist
2019 7.40m 5.65bn $ 1.2% 764 $
2018 6.94m 6.00bn $ 1.1% 864 $
2017 6.71m 5.83bn $ 0.91% 869 $
2016 6.67m 5.47bn $ 0.98% 820 $

 IMPACT OF TOURISM ON ECONOMY

Domestic and international visitor spending in Argentina directly

contributed US$15.5 billion to Argentine GDP and supported a US$41.5
billion total impact including indirect and induced impacts.