oans in US Dollars are available, but also at rates which generally are above international levels.In recent times, the possibility to issue and list medium term commercial paper on the Stock Exchange has been opened for Argentine companies. This possibility is of course only open to companies of a certain size.Raw MaterialsThe country has traditionally had a self-contained economy. Raw materials are available within the country in adequate supply to meet domestic needs and have a surplus to export.Argentina has ample supply of natural gas, largely unknown mineral resources and, of course, a very important and efficient agricultural industry. Industries based on raw materials derived from these sources would seem to be well positioned in Argentina.THE ARGENTINE ECONOMYWhile agricultural and livestock production is still of paramount importance for the Argentine economy, industrial production is also well developed. Mineral resources appear to be rather significant, but as explained above, are still in the initial stage of development. Oil production amply exceeds local consumption and has become an important export item. Production of natural gas covers 100% of the consumption and proven reserves are sufficient for many years of consumption; there are projects being implemented to export natural gas to neighboring countries.In the past the government participated strongly in manufacturing, commerce, banking, insurance and other industries, but current policies have reduced the level of government involvement. The participation of the public sector in the Argentine economy was considerably more than 50% until 1989, but since then it has decreased dramatically.Certain former state-run activities have been opened up to the private sector, including foreign investors since 1990 as part of a sustained privatization process. Argentina now has an economy based on free-market principles.The industrial sector grew approximately 30% between 1990 ...
