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
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
As Argentina reopens to international travellers, those who visit will find their dollars or euros go a long way. When the government shut borders in March 2020, one US dollar was worth around 60 pesos – now it’s around 140 pesos. Argentina is currently among the five countries in the world with the lowest cost … Read more
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’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