July 05, 2011
NYT readers must have been stunned to see the second paragraph of an article on the prospects for shale oil in Argentina refer to “the country’s long-stagnant economy.”
According to data from the IMF, Argentina’s economy grew at almost an 8 percent annual rate from 2003 to 2008, following a severe recession in 1998-2002. The world economic crisis brought its economy to a standstill in 2009, but it grew by 9.2 percent last year and is projected to grow 6.0 percent this year. This is stagnant?
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