Viva las Pampas

Argentina's agricultural exports once made it one of the most prosperous countries in the world, but they languished after dictator Juan Peron introduced statism to the country nearly 50 years ago. The situation is now changing. The government of Carlos Saul Menem is in the process of eliminati...

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Bibliographic Details
Published in:Forbes 1991-10, Vol.148 (10), p.106
Main Author: Millman, Joel
Format: Magazinearticle
Language:English
Subjects:
Agricultural exports & imports
Agricultural production
Agriculture
Economic conditions
Exports
Foreign investment
International trade
Swap arrangements
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Summary:Argentina's agricultural exports once made it one of the most prosperous countries in the world, but they languished after dictator Juan Peron introduced statism to the country nearly 50 years ago. The situation is now changing. The government of Carlos Saul Menem is in the process of eliminating the tax on agricultural exports, which has been as high as 25%, giving farmers new incentives to export and to invest in their properties. It is also eliminating export duties levied on processed foods, which have been as high as 15%. Some of the capital to expand has come from debt-for-equity swaps, including a $60-million swap by Campbell Soup Co. in 1989 and a $10-million deal by National Sea Products.
ISSN:0015-6914
2609-1445