Issues
The economy recovered strongly from the 2001–02 crisis, and was the 21st largest in purchasing power parity terms in 2011; it per capita income on a purchasing power basis was the highest in Latin America. A lobby representing US creditors who refused to accept Argentina's debt-swap programmes has campaigned to have the country expelled from the G20. These holdouts include numerous vulture funds which had rejected the 2005 offer, and had instead resorted to the courts in a bid for higher returns on their defaulted bonds. These disputes had led to a number of liens against central bank accounts in New York and, indirectly, to reduced Argentine access to international credit markets.
Argentina's economy grew by 9% in 2010, and officially, income poverty declined to 8% by 2011; an alternative mesurement conducted by CONICET found that income poverty declined to 22.6%. Argentina's unemployment rate in the fourth quarter of 2011 was reportedly down to 6.7% from 8.4% in the fourth quarter of 2009, according to INDEC data. The jobless rate has declined from 25% in 2002 largely because of both growing global demand for Argentine commodities and strong growth in domestic activity.
Having defaulted on debts in recent years; the government has become wary of sending assets to foreign countries (such as the presidential plane, or artworks sent to foreign exhibitions) in case they might be seized by creditors.
Read more about this topic: Economy Of Argentina
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