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<PAGE> PAGE 2
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<PAGE> PAGE 5
SIGNATURE THOMAS F. MCDONOUGH
TITLE VICE PRESIDENT
<TABLE> <S> <C>
<ARTICLE> 6
<LEGEND>
This schedule contains summary financial information extracted from The
Argentina Fund Annual Report for the period ended April 30, 1996 and is
qualified in its entirety by reference to such financial statements.
</LEGEND>
<SERIES>
<NUMBER> 1
<NAME> THE ARGENTINA FUND, INC.
<S> <C>
<PERIOD-TYPE> 6-MOS
<FISCAL-YEAR-END> OCT-31-1995
<PERIOD-START> NOV-1-1994
<PERIOD-END> APR-30-1996
<INVESTMENTS-AT-COST> 108,804,065
<INVESTMENTS-AT-VALUE> 120,593,196
<RECEIVABLES> 464,731
<ASSETS-OTHER> 708,318
<OTHER-ITEMS-ASSETS> 0
<TOTAL-ASSETS> 121,766,245
<PAYABLE-FOR-SECURITIES> 81,393
<SENIOR-LONG-TERM-DEBT> 0
<OTHER-ITEMS-LIABILITIES> 242,630
<TOTAL-LIABILITIES> 324,023
<SENIOR-EQUITY> 0
<PAID-IN-CAPITAL-COMMON> 113,881,626
<SHARES-COMMON-STOCK> 9,258,146
<SHARES-COMMON-PRIOR> 9,244,879
<ACCUMULATED-NII-CURRENT> 317,119
<OVERDISTRIBUTION-NII> 0
<ACCUMULATED-NET-GAINS> (4,545,541)
<OVERDISTRIBUTION-GAINS> 0
<ACCUM-APPREC-OR-DEPREC> 11,789,018
<NET-ASSETS> 121,442,222
<DIVIDEND-INCOME> 2,147,982
<INTEREST-INCOME> 267,276
<OTHER-INCOME> 0
<EXPENSES-NET> 1,044,453
<NET-INVESTMENT-INCOME> 1,370,805
<REALIZED-GAINS-CURRENT> 1,445,920
<APPREC-INCREASE-CURRENT> 26,598,922
<NET-CHANGE-FROM-OPS> 29,415,647
<EQUALIZATION> 0
<DISTRIBUTIONS-OF-INCOME> (3,059,725)
<DISTRIBUTIONS-OF-GAINS> 0
<DISTRIBUTIONS-OTHER> 0
<NUMBER-OF-SHARES-SOLD> 0
<NUMBER-OF-SHARES-REDEEMED> 0
<SHARES-REINVESTED> 13,267
<NET-CHANGE-IN-ASSETS> 26,534,207
<ACCUMULATED-NII-PRIOR> 2,006,039
<ACCUMULATED-GAINS-PRIOR> (5,991,461)
<OVERDISTRIB-NII-PRIOR> 0
<OVERDIST-NET-GAINS-PRIOR> 0
<GROSS-ADVISORY-FEES> 719,868
<INTEREST-EXPENSE> 0
<GROSS-EXPENSE> 1,044,453
<AVERAGE-NET-ASSETS> 111,516,469
<PER-SHARE-NAV-BEGIN> 10.27
<PER-SHARE-NII> .15
<PER-SHARE-GAIN-APPREC> 3.03
<PER-SHARE-DIVIDEND> (.33)
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<PER-SHARE-NAV-END> 13.12
<EXPENSE-RATIO> 1.88
<AVG-DEBT-OUTSTANDING> 0
<AVG-DEBT-PER-SHARE> 0
</TABLE>
