Wednesday, August 19, 2009

Brazil



Brazil


From the 1970s onwards, government spending and service of the public debt
were the reasons for high inflation, and the subsequent rise in prices. Inflation
was Brazil's greatest monetary problem until President

Exchange rates: Brazil
reals (R$) per US$1
Jan 2001 1.954
2000 1.830
1999 1.815
1998 1.161
1997 1.078
1996 1.005
Note: From October 1994 through January 14, 1999, the official rate was
determined by a managed float; since January 15, 1999, the official rate
floats independently with respect to the US dollar.
SOURCE: CIA World Factbook 2001 [ONLINE].
Fernando Henrique Cardoso in the mid-1990s adopted measures to slow down
government spending and renegotiate public debt in order to contend with
inflationary pressures. Brazil's currency was constantly devalued against
the U.S. dollar. Currency devaluations generated incentives for the export
market, decreasing the trade imbalance caused by debt payments and excess
imports of manufactured goods. Devaluation helped the export market, wh
ich
expanded its production when exports were given a price advantage provided by
cheaper products in the world markets, but also represented a burden for domestic
consumers who faced higher prices on imported goods. In the period from 1995 to 2000,
the real devalued by approximately 100 percent. In 1995, 1 U.S. dollar was equal to 0.9176
reals. In 2000, 1 U.S. dollar was equal to 1.8302 reals. The devaluation was largely felt in
early 1999, when the central bank of Brazil adopted a floating exchange rate system. The real
then fell by 56 percent from 1998 to 1999.

In the past, Brazil had as many as 9 regional stock exchanges. However, with consolidations of
the stock markets in the early 1990s and the advent of electronic trading, all securities
transactions in Brazil are carried out in São Paulo, at the São Paulo Stock Exchange (BOVESPA).
There are approximately 1,100 companies listed on the São Paulo exchange. The total market
valuation of all listed companies on the São Paulo Exchange was US$228.6 billion in February 2001.
Daily transactions are published in the leading newspapers and are available on the Internet.
BOVESPA is part of the leading technology exchanges, offering electronic and after-hours trading
options. The Rio de Janeiro Stock Exchange is the oldest financial institution in the country,
founded in 1845. The Rio de Janeiro exchange is responsible for all the transactions in government
bonds. Futures transactions are carried out at the Mercantile Futures Exchange (BM&F). Located in
São Paulo, the BM&F has been operating since 1986 and is used mainly by coffee, beef, and cattle
producers and buyers.

GDP per Capita (US$)
Country 1975 1980 1985 1990 1998
Brazil 3,464 4,253 4,039 4,078 4,509
United States 19,364 21,529 23,200 25,363 29,683
Argentina 7,317 7,793 6,354 5,782 8,475
Colombia 1,612 1,868 1,875 2,119 2,392
SOURCE: United Nations. Human Development Report 2000; Trends in human development and per
capita income.

Bouvet Island



Bouvet Island




Botswana

Botswana



The Botswana pula has traditionally had a similar exchange rate to the
South African rand, which meant that goods sold for almost the same price
in both countries.

Exchange rates: Botswana
pulas per US$1
Jan 2001 5.4585
2000 5.1018
1999 4.6244
1998 4.2259
1997 3.6508
1996 3.3242
SOURCE : CIA World Factbook 2001 [ONLINE].
During the late 1990s the pula was much stronger than the rand, resulting in
South African products becoming relatively cheaper when purchased in pula.
Botswana could afford to import more South African products. The stronger
pula relative to the rand also meant that foreign investors found Botswana
a more attractive place to invest money. However, during the same time period
the pula gradually lost its value against the U.S. dollar, meaning that imports
valued in U.S. dollars, such as those from the United States it
self as well as from
many other countries, were more expensive. But Botswana's exports, especially diamonds,
were cheaper for American and European buyers.

The Botswana Stock Exchange, established in 1995, had 22 companies listed in 2001,
including 6 South African companies.

Bosnia and Herzegovina



Bosnia and Herzegovina


After the ethnic leaders failed to agree on a new currency, the UN introduced in 1998 a
new currency, the

Exchange rates: Bosnia
marka per US$1
Jan 2001 2.086
2000 2.124
1999 1.837
1998 1.760
1997 1.734
1996 0.015
SOURCE: CIA World Factbook 2001 [ONLINE].
convertible mark. The convertible mark was fixed to the German mark. It gained acceptance,
and the Central Bank of Bosnia and Herzegovina increased its reserves. Yugoslav dinars still
circulate in the Serb Republic, and the Croatian kuna is used in the Croat areas of the Federation.

The government is still hoping to increase its capitalization by pressing for the privatization
of the numerous small commercial banks. Raiffeisen Zentralbank Oesterreich, an Aus
trian bank,
recently acquired many banks, including the Market Banka. The Austrian bank has also submitted
privatization papers to the government bank privatization unit. It is not clear whether this will
attract foreign attention, because the banking sector is weak and the economy is being reconstructed
slowly.

Bolivia



Bolivia


The Bolivian currency has had severe fluctuations as a consequence of the Chaco
War (1932-35); the 1952 revolution with its drastic economic, political, and
social reforms; and the collapse of much of the mining industry, especially tin
extraction and export. In 1975, the boliviano was devalued by 66 percent (US$1=Bs20.40).
In 1979, there was a further 25 percent devaluation. By 1982, the Bolivian currency had
totally collapsed, and until 1985 Bolivia suffered hyperinflation, one of the worst cases
in recent world history. Inflation reached 23,000 percent with US$1 traded at Bs1,055,000.
In 1985, strong economic measures were undertaken to reconstruct the Bolivian economy and

its currency. Currently it is one of the most stable currencies in Latin America, with a free
floating exchange rate and pegged to the U.S. dollar. Inflation has declined from 13 percent to
3 percent in 1999. In March 2001, US$1=Bs6.48. (In 1995, it was Bs4.86.) The U.S. dollar circulates

freely and is generally accepted as payment, mainly in urban areas.

Bolivia has about 18 private banks, some with links to foreign banks such as Citibank.
The Banco Central (Central Bank), established in 1929 but with roots going back to 1871,
is a semi-independent government agency. Its mandate is to implement the Bolivian government's
fiscal and monetary policies, including issuing the currency. Its governing board is nominated
by the president of the Republic, and it needs the approval of two-thirds


Exchange rates: Bolivia
bolivianos per US$1
Jan 2001 6.4071
2000 6.1835
1999 5.8124
1998 5.5101
1997 5.2543
1996 5.0746
SOURCE: CIA World Factbook 2001 [ONLINE].
of the elected representatives of the lower chamber. Terms are staggered, and the term of
the president of bank cannot coincide with the term of the president of the Republic. The
Banco Central and some private banks have recently received praise from international agencies
for their stability and fiscal soundness.

There is a small Bolivian Stock Exchange which was started in 1989, but there is no
published index of stock prices. In 1989, the exchange's transactions came to Bs4.3
billion but only to Bs3.9 billion in 1999. The exchange deals mostly with fixed-income
securities. It is expected that the stock exchange will grow and become more important and visible.

Bhutan



Bhutan

The widespread use of money in Bhutan only began in the early 1960s with the growth of trade
with India and the initiation of bilateral development aid from India to Bhutan. Even though
Bhutan's economy is highly

Trade (expressed in billions of US$): Bhutan
Exports Imports
1975 N/A N/A
1980 .017 .050
1985 .022 .084
1990 .068 .078
1995 .103 .112
1998 N/A N/A
SOURCE: International Monetary Fund. International Financial Statistics Yearbook 1999.
Exchange rates: Bhutan
ngultrum (Nu) per US$1
Jan 2001 46.540
2000 44.942
1999 43.055
1998 41.259
1997 36.313
1996 35.433
Note: The Bhutanese ngultrum is at par with the Indian rupee which is also legal tender.
SOURCE: CIA World Factbook 2001 [ONLINE].
underdeveloped the price of consumer goods has remained fairly stable. The average percentage
change of prices each year was only 10 percent between 1990 and 1998. Total international
currency reserves by major Bhutanese holders (mainly the Royal Monetary Authority, Bank of
Bhutan, and Bhutan National Bank) rose dramatically in value from US$106.9 million in 1993-94
to US$218.2 million in 1997-98.

Two banks operate in the country: the Bhutan National Bank has offices in Thimpu and a branch
in Phuentsholing, and the Bank of Bhutan has branches in the country's main centers. No restrictions
are placed on the quantity of currencies that can be taken into Bhutan although they are limited to
the main international currencies. In the late 1990s Bhutan National Bank was partly privatized when
the government sold 40 percent of its shares to Citibank and the Asian Development Bank; the
government now owns only 27 percent of the bank. Bhutan has a stock exchange but it is not open
to external investment.

Tuesday, August 18, 2009

Bermuda

Bermuda


The currency of Bermuda is the Bermuda dollar. There are 100 cents to
the dollar. The Bermuda dollar is pegged to the US dollar on a 1-to-1 basis.
Both currencies are equally acceptable at all establishments. The US dollar
is therefore the currency of choice since any remaining cash is exchangeable
almost anywhere in the world; a situation which is not true for the Bermuda dollar.
Ensure you change all Bermuda currency, other than that required for novelty purposes,
into US dollars before you leave Bermuda. There are no currency restrictions
in force when
leaving Bermuda.

Benin



Benin


Benin is part of the 8-member UEMOA, and the currency is the CFA franc. The Banque Centrale des Etats de l'Afrique de l'Ouest (BCEAO) issues currency notes and regulates credit expansion. The CFA franc was pegged at a fixed exchange rate to the French franc at 50:1 from 1948 but was overvalued in the late 1980s and subsequently devalued to CFA Fr 100 to 1 French franc in 1994. Since France joined European Monetary Union, the CFA franc is tied to the euro at CFA Fr655.959:Euro 1.

Benin is burdened with a huge foreign debt of more than US$1.6 billion, although the country's major creditors are working with the Paris Club (an informal organization made of various creditor companies and countries), the IMF, and the World Bank to help it manage its obligations.

Exchange rates: Benin
Communaute Financiere Africaine francs (CFA Fr) per US$1
Jan 2001699.21
2000711.98
1999615.70
1998589.95
1997583.67
1996511.55
Note: From January 1, 1999, the CFA Fr is pegged to the euro at a rate of 655.957 CFA Fr per euro.
SOURCE : CIA World Factbook 2001 [ONLINE].

Belize



Belize

The Central Bank of Belize regulates the primary financial mechanisms of the
country, setting liquidity and cash reserve requirements and determining the
interest rate structure. The Central Bank also regulates most forms of foreign
exchange in the country. At the end of September 1996,
after receiving a US$20
million loan from Taiwan and issuing a US$10 million regional bond, international
reserves in Belize reached an all-time high of US$79 million. Budget controls and
high reserves in the early 1990s gave way to increased spending and

Exchange rates: Belize
Belizean dollars (Bz$) per US$1
2001 2.000
2000 2.000
1999 2.000
1998 2.000
1997 2.000
1996 2.000
Note: Fixed rate pegged to the US dollar.
SOURCE: CIA World Factbook 2001 [ONLINE].
widening government deficits in 1997-98, putting pressure on Belize's fixed exchange
rate with the United States. Reserves fell sharply, dwindling to US$43 million by 1998.
The declines were reversed in 1999 due to increased borrowing and larger inflows of foreign
exchange stemming mainly from the sale of home mortgages to the Royal Merchant Bank of Trinidad.
By the end of 1999 monetary reserves had rebounded to US$70.2 million.

Belgium



Belgium

Through BLEU, Belgium and Luxembourg linked their currencies in 1921. Although the
Belgian franc has declined in relation to the U.S. dollar, it has maintained its
value against major European currencies. In 1995, 1 U.S. dollar was equal to 29.48
francs, but by 1999, 1 dollar equaled 34.77 francs. In 1999, Belgium joined the EMU
that created a single currency, the euro, for all of the EU nations. The euro is fixed
at a rate of 40.3399 francs per euro. Since its introduction, the euro has been weak against
the dollar. In 2000, 1 U.S. dollar equaled 0.9867 euros (when the euro was introduced it was
equal to $1.1789). The euro was only used in non-cash forms
(such as electronic payments and transfers) until January of 2002, when euro coins and
notes were issued and national currencies were phased out.

The Belgian National Bank acts as the state bank. It prints and issues the nation's

currency and acts as the lender of last resort in certain credit operations. The bank
also manages monetary policy by controlling interest rates. The Banking Commission oversees
the operations of the nation's banks while the Finance Ministry regulates credit institutions.

In September of 2000, the Brussels stock exchange merged with the exchanges of Amsterdam and
the Paris Bourse exchange to form Euronext. The new stock exchange is the first truly
transnational exchange that combines stock, derivative, and commodity trading. The new

exchange lists 1,861 different companies and has a value of 1.1 trillion euros. The merger
will streamline trading and reduce transaction costs. It will also save approximately
50 million euros per year. The exchange also increases the transparency of stocks and
gives investors greater cost comparisons. The stock-trading component of Euronext is
divided into 3 broad areas: blue

Exchange rates: Belgium
euros per US$1
Jan 2001 1.0659
2000 1.0854
1999 0.9386
1998 36.229
1997 35.774
1996 30.962
Note: Amounts prior to 1999 are in Belgian francs per US dollar.
SOURCE: CIA World Factbook 2001 [ONLINE].
GDP per Capita (US$)
Country 1975 1980 1985 1990 1998
Belgium 18,620 21,653 22,417 25,744 28,790
United States 19,364 21,529 23,200 25,363 29,683
Germany N/A N/A N/A N/A 31,141
France 18,730 21,374 22,510 25,624 27,975
SOURCE: United Nations. Human Development Report 2000; Trends in human development
and per capita income.
chip traditional industrial companies, high tech stocks, and traditional securities.
The new multinational exchange is actively seeking further integration and consolidation
and may merge or absorb additional national exchanges.

In order to become a member of EMU, Belgium had to maintain low inflation. The government
took steps that kept inflation low—as low as 1 percent in 1999. Low prices on imported
goods are likely to aid efforts to keep inflation low for the foreseeable future.

Belarus



Belarus

Annual inflation in Belarus, as measured by changes in consumer price inflation,
or CPI, has been very high during
the 1990s. It stood at 294 percent by the end of 1999. There were several reasons
behind the inflationary pressure on the economy. The 1998 Russian monetary crisis
had a negative effect on the Belarusian ruble due to the dependence of the Belarusian
economy on Russia. Government subsidies to several sectors of the economy
(such as agriculture and housing) supported bad lending practices, poor weather
conditions caused low agricultural production, and the government's periodic
expansion of the money supply caused a devaluation of the Belarusian ruble.

In February 1993 Belarus set up the Inter-Bank Currency Exchange which is
the main trading forum of the legal currency market. Trades are performed
in 4 main currencies: the U.S. dollar, the German mark, the Russian ruble,
and the Ukrainian grivna. The Russian financial crisis of 1998 forced the
Belarusian ruble to depreciate against the Russian ruble and the U.S. dollar.
In April 2000 the exchange rate stood at BR435 to US$1. The depreciation of the
Belarusian currency continued to accelerate in the following months, reaching a
whopping BR1,247 to US$1 by mid-February 2001.

Exchange rates: Belarus
Belarusian rubles per US$1
2000 1,180
Dec 1999 730,000
Jan 1999 139,000
1998 46,080
1997 25,964
1996 15,500
Note: On January 1, 2000, the national currency was redenominated at onenew
ruble to 2,000 old rubles.
SOURCE: CIA World Factbook 2001 [ONLINE].
GDP per Capita (US$)
Country 1975 1980 1985 1990 1998
Belarus N/A N/A N/A 2,761 2,198
United States 19,364 21,529 23,200 25,363 29,683
Russia 2,555 3,654 3,463 3,668 2,138
Ukraine N/A N/A N/A 1,979 837
SOURCE: United Nations. Human Development Report 2000; Trends in human development
and per capita income.

Barbados



Barbados

Regular economic growth and low inflation marked most of the 1990s for Barbados,
but by the end of the decade there were anxieties over another possible recession.
Consumption of imported goods was too high in relation to export earnings, and credit
was too easily available to consumers; therefore, in 1999,
the government raised interest rates in an attempt to restrain spending. The Barbadian
dollar, which has long been pegged to the U.S. dollar at a rate of BDS$2.000:US$1, is
probably overvalued, but it would be extremely difficult for any government to devalue
the currency, as so many basic items are imported from the United States.

There is a small local securities exchange, the Securities Exchange of Barbados,
founded in 1991, which had a market capitalization of US$2 billion at the end of 1999.
Most larger local companies are listed for share trading, together with several companies
from Trinidad & Tobago and Jamaica.

Bahrain



Bahrain

The exchange rate of the Bahraini dinar is fixed to the U.S. dollar, which means
that developments in the American economy have repercussions for Bahrain. Bahrain's
central bank is the Bahrain Monetary Agency (BMA), an independent organization praised
for its adherence to international standards.

Trade (expressed in billions of US$): Bahrain
Exports Imports
1975 1.107 1.189
1980 3.606 3.483
1985 2.897 3.107
1990 3.761 3.712
1995 4.113 3.716
1998 N/A 3.463
SOURCE: International Monetary Fund. International Financial Statistics Yearbook 1999.
Trade (expressed in billions of US$): Bahrain
Exports Imports
1975 1.107 1.189
1980 3.606 3.483
1985 2.897 3.107
1990 3.761 3.712
1995 4.113 3.716
1998 N/A 3.463
SOURCE : International Monetary Fund. International Financial Statistics Yearbook 1999.
Exchange rates: Bahrain
Bahraini dinars (BD) per US$1
2001 0.3760
2000 0.3760
1999 0.3760
1998 0.3760
1997 0.3760
1996 0.3760
Note: Fixed rate pegged to the US dollar.
SOURCE: CIA World Factbook 2001 [ONLINE].
The Bahrain Stock Exchange (BSE) opened in 1989, and in 1995 Bahrain and Oman signed an
agreement linking their stock exchanges. The link-up allows cross-listing of companies
on both exchanges, which between them have 110 listed companies with a total market
capitalization of US$8.1 billion. In 1996, the Bahraini and Jordanian stock exchanges
linked up, and the BSE also has links with the Sri Lankan and Bangladeshi exchanges and
plans to link up with the Bombay Stock Exchange.

Tuesday, August 11, 2009

Bangladesh Currency


Bangladesh Currency

At present the overall economic condition of the globe is not of good shape at all
and the world is facing this type of economic disaster for the first time after a long
period. The first world countries are facing this problem very strongly. Basically after
the incident of 1/11 in USA, the economic crisis began to start and it affected the whole
global economic condition very slowly. The main reason of this crisis is, the overall economic
activities of USA are very much related to the whole world, as its economy is controlling economy
of the world.

Basically, the western world people are very much familiar with the credit card facilities and
the financial intermediaries of that region are very much active for providing this type of facility
to the general people by taking a lot of risk. They only believe in “Risk is proportional to return”
and this belief back-fired them and most of the high risk taking financial intermediaries of that
region faced bankruptcy. This is just because of very aggressive marketing strategy of those financial

intermediaries. They provided loans to the general ultimate consumers very aggressively and could not get
it back in the due time that means they provided a lot of flexibility to the customers and their recovery
strategy was not so much aggressive. In other words, we can say that the monitoring activities of the central
bank of that particular region was not that much strong or rude to recover the provided loans to the customers.
They also believe that they have got asset but not enough liquid money and that is why they took risk and the result
is the present odd situation.

Bangladesh is also starting to face the economical disaster situation, as it is getting grants from the
first world countries as well as from their controlled international organization like – WHO, World Bank,
UNDP, UNICEF, WTO, IMF and some others. These welfare organizations are starting to stop funding in various
less important projects that are already running or going to be started to run in this developing country.
Besides, the people outside Bangladesh who are basically Bangladeshis are sending less remittance than the
recent past. It causes less money supply in the inside overall economy of this country (Bangladesh).
As our country is partly dependent on the foreign remittance, we face a lot of problem for the less amount
of foreign remittance. Moreover, our export volume is also becoming smaller and smaller for the global economic
crisis, which also shorten our incoming foreign currency and it also affects the overall money supply of the country.
Not only that, the first world people is also trying to avoid buying high graded consumer products that means luxury
products and they also want to buy the existing market products in the lesser amount than the recent previous time
and that is why the bidding price that the garment factories of Bangladesh have got from the outside agents is also
becoming lower and it affects the profit margin of them as well as their sustainability.

For the global economic crisis, many Bangladeshi people, who are working in the foreign countries,
are loosing jobs and they are coming back to their motherland. Besides, many other Bangladeshi
people are in the pipeline to loose their running jobs. So, as a whole, we are going to face a
very big problem in the upcoming very recent future years.

bahrain currency


bahrain currency

In economics, the term currency can refer either to a particular currency, for
example the US Dollar, or to the coins and banknotes of a particular currency,
which comprise the physical aspects of a nation’s money supply. The other part
of a nation’s money supply consists of money deposited in banks (sometimes called
deposit money), ownership of which can be transferred by means of cheques (in English)
or checks (in American English), or other forms of money transfer such as credit and
debit cards. Deposit money and currency are ‘money’ in the sense that both are acceptable
as a means of exchange, but money need not necessarily be ‘currency
Historically, money in the form of currency has predominated. Usually (gold or silver) coins of intrinsic value commensurate with the monetary unit (commodity money), have been the norm. By contrast, modern currency, as fiat money, is intrinsically worthless. The prevalence of one type of currency over another in commodity money systems has arisen, usually when a government designates through decrees, that only particular monetary units shall be accepted in payment for taxes.

Bahrain currency

Bahrain currency

Friday, July 31, 2009

Azerbaijan


Azerbaijan

In Austria, the euro was introduced as an accounting currency on 1 January 1999, and euro coins and banknotes entered circulation on 1 January 2002. As a preparation for this date, the minting of the new euro coins started as early as 1999, however all Austrian euro coins introduced in 2002 have this year on it; unlike other countries of the Eurozone where mint year is minted in The manat (code: AZN) is the currency of Azerbaijan. It is subdivided into 100 qəpik. The word manat is borrowed from the Russian word "монета" (coin) which is pronounced as "maneta". Manat was also the designation of the Soviet ruble in both the Azerbaijani and Turkmen languages.
The Azerbaijani manat symbol, , is currently not encoded in Unicode, and m, man., can be used as a substitute for the manat symbol.

Austria


Austria

the coin. Eight different designs, one per face value, were selected for the Austrian coins. In 2007, in order to adopt the new common map like the rest of the Eurozone countries, Austria changed the common side of its coins.
Before adopting the Euro in 2002 Austria had maintained use of the Austrian schilling which was first established in December 1924. The Schilling was abolished in the wake of the Anschluss in 1938 and has been reintroduced after the end of the World War II in November 1945.
Austria has one of the richest collection of collectors' coins in the Eurozone, with face value ranging from 10 to 100 euro (although a 100,000 euro coin was exceptionally minted in 2004). These coins are a legacy of an old national practice of minting of silver and gold coins. Unlike normal issues, these coins are not legal tender in all the eurozone. For instance, a €5 Austrian commemorative coin cannot be used in any other country

Australia


Australia


The Australian dollar (sign: $; code: AUD) is the currency of the Commonwealth of Australia, including Christmas Island, Cocos (Keeling) Islands, and Norfolk Island, as well as the independent Pacific Island states of Kiribati, Nauru and Tuvalu. Within Australia it is almost always abbreviated with the dollar sign ($), with A$ or AU$ sometimes used informally to distinguish it from other dollar-denominated currencies. It is subdivided into 100 cents.

The Australian dollar is currently the sixth-most-traded currency in the world[1] foreign exchange markets, (behind the US dollar, the euro, the yen, the pound sterling, and the swiss franc), accounting for over 6% of worldwide foreign-exchange transactions. The Australian dollar is popular with currency traders due to high interest rates in Australia, the relative freedom of the foreign exchange market from government intervention, the general stability of Australia's economy and political system, and the prevailing view that the Australian dollar offers diversification benefits in a portfolio containing the major world currencies, especially because of its greater exposure to Asian economies and the commodities cycle.

Armenia


Armenia

The Kingdom of Armenia (or Greater Armenia) was an independent kingdom from 190 BC to AD 387 and a client state of the Roman and Persian empires until 428, stretching from the Caspian to the Mediterranean seas.
The predecessor of the kingdom was the Satrapy of Armenia ("Armina" in Old Persian, "Harminuya" in Elamite, and "Urartu" in the Bablylonian parts of Behistun Inscription of Darius the Great), which was a protectorate of the Achaemenid Empire, and later an independent kingdom under the Orontid Dynasty (with Macedonian influence).

Argentina


Argentina

Argentina, officially the Argentine Republic[5] (Spanish: República Argentina, pronounced [reˈpuβlika arxenˈtina]), is a country in South America, constituted as a federation of 23 provinces and an autonomous city, Buenos Aires. It is the second largest country in South America and eighth in the world by land area and the largest among Spanish-speaking nations, though Mexico, Colombia and Spain are more populous. Its continental area is 2,766,890 km2 (1,068,302 sq mi), between the Andes mountain range in the west and the southern Atlantic Ocean in the east and south. Argentina borders Paraguay and Bolivia to the north, Brazil and Uruguay to the northeast, and Chile to the west and south. Argentina claims the Falkland Islands and South Georgia and South Sandwich Islands which are controlled by the United Kingdom. It also claims 969,464 km2 (374,312 sq mi) of Antarctica, known as Argentine Antarctica which overlaps other claims made by Chile and by the United Kingdom. These claims have been suspended by the Antarctic Treaty of 1961.
Argentina has the second highest Human Development Index level[6] and Gross Domestic Product (GDP) per capita in purchasing power parity in Latin America.[3] Argentina's nominal GDP is the 30th largest in the world;[7] but when purchasing power is taken into account, its total GDP makes it the 23rd largest economy in the world.[8]
According to article 35 of the Argentine Constitution, the titles Argentine Republic, Argentine Confederation, Argentine Nation, and United Provinces of the River Plate are all valid; however, Argentine Republic is the title used in practice.
The country is currently classified as an Upper-Middle Income Country[9] or as a secondary emerging market by the World Bank.[10][11] Argentina is also a one of the G-20 major economies.