The IMF Country Reports Series covers economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with officials of the country, is published at the option of the member.
This paper describes economic developments in Argentina during the 1990s. Since the implementation of the Convertibility Plan in early 1991, real GDP grew by more than 7 percent a year (or by a cumulative 35 percent over the years 1991-94), after stagnating for more than a decade. At the same time, consumer price inflation, which had peaked at 3,000 percent in 1989, declined to 4 percent (average) in 1994. Gross fixed investment recovered to nearly 20 percent of GDP by 1994, reflecting a real growth rate of 22 percent a year during the period.