Argentina World Cup Win

Not even a World Cup win can save Argentina’s economy from decline

Argentina’s economy contracted more than expected in December even after the country won its much-celebrated third World Cup title, confirming the view that the nation will likely enter recession later this year. Economic activity declined one percent in December from November, the fourth straight month of declines, according to government data published Thursday. From a year … Read more

Banco Central, Argentina

The drop in the blue dollar and the sharp rise in rates were not enough for the Central Bank to add reserves

Despite the drop in Dolar blue, which closed the week $295, and the strong rate hike, the Central Bank (BCRA) could not take advantage on Friday the “breather” in the price of the parallel currency and ended the trading day with barely $1 million buyer balance. The reserves of the BCRA were today at the … Read more

Argentina is running out of cash to stave off devaluation

Even in Argentina, a country whose very name has become synonymous with financial crisis, the current moment is dire. With inflation hurtling toward triple digits and, economists say, just a policy mistake or two away from setting the stage for hyperinflation, the central bank is desperately trying to avert a peso devaluation that would only … Read more

Argentina pledges end of money printing to battle 60% inflation

Argentina’s Economy Minister Sergio Massa pledged Wednesday night to stop printing money that helps fuel runaway inflation, outlining his strategy to turn around the country’s deepening crisis. Massa rolled out his economic road map after being sworn in by President Alberto Fernández as the third such minister in a month. Massa’s measures also focused on … Read more