International Business Law
Genco Pharmaceuticals in Argentina
Achieving Market Dominance throughout South America
ARGENTINEAN BUSINESS CLIMATE
To acquaint the directors with the necessary factors of consideration, here is a very brief summary of the recent Argentinean financial crisis, and an analysis of the current business climate.
From a 2002 article by Martin Hunter:
Argentina is in the midst of a severe socio-economic crisis. By all accounts, the country is essentially bankrupt: burdened with a 150 billion dollar foreign debt, which saps 30% of the GDP in interest payments alone, the unemployment rate has soared over 20% and the ecomomy's growth rate has plummeted from 8% to less than 1% in the last five years. Austerity measures - a prerequisite for IMF and World Bank foreign debt repayment loans - have been felt heavily by the population, which has seen its purchasing power halved since 1997. Faced with an ever-shrinking tax-base and an economy grinding to a halt, recent governments have relied on......
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Approximate Word Count: 3463
Approximate Pages: 14 (250 words per double-spaced page)
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