MercoPress. South Atlantic News Agency
Top banker forecasts ‘dollar run’ in Argentina will dissolve: plenty of reserves
The former head of the Argentine Central Bank, Mario Blejer assured on Wednesday that in the exchange market “tension has been created which will only start to dissolve as and when we minimize the analysis of the subject.” Read full article
Comments
Disclaimer & comment rules“If we all stopped talking about it and telling the truth, the problem would go away”.
Nov 17th, 2011 - 09:09 am - Link - Report abuse 0Well that is true to an extent when you consider that markets are all about trust. No one, not even the Argentines, trust their government's word when it comes to situations like this.
This kind of ill-thoughout policy is reminicent of the ill-judged actions before the country went bankrupt just ten years ago.
Que boluda sos.Argentina is growing at 8% a year while England and Europe are implodeing and you desperately want to imagine Argentina in crisis like the good old days.Get your teddy out dear and hold him it will comfort you
Nov 17th, 2011 - 10:10 am - Link - Report abuse 0Sounds like it, ogara.
Nov 17th, 2011 - 11:24 am - Link - Report abuse 0Soon your Peso will be worth 1 penny.
Argentina grows at 8% per year but inflation is 25%. A negative net growth.
Nov 17th, 2011 - 11:38 am - Link - Report abuse 0Plus the forecast for 2012 is 4-5 % growth and even higher inflation (due to peso devaluation). Soy is 15-20% lower than last year and car exports to Brazil are grinding to a halt. Not going to be pretty.
Nov 17th, 2011 - 11:46 am - Link - Report abuse 0Plus no financial institution outside of Argentina believes the growth figures are true & any institution or media outlet inside has been shut down or arrested by CFK's government on trumped up charges when they tried to publish the real figures.
Nov 17th, 2011 - 12:21 pm - Link - Report abuse 0I don't wish ill on Argentina or the Argentines. I despair at watching the Argentine government run the country into another disaster.
Nov 17th, 2011 - 01:09 pm - Link - Report abuse 0Just ask yourself this question.If the Argentine people trust the government why is the money fleeing the country? And why is the government trying to stop people discussing the issue?
Comparing a country with a developed economy with a developing country's economy it a fundamental mistake.
Why is the government not allowing its citizens to buy dollars to protect themselves from the massive peso inflation?
Nov 17th, 2011 - 03:04 pm - Link - Report abuse 0Why is money leaving the country?
Because the Peronists are kleptocrats and view all private savings as loot to be plundered.
@8
Nov 17th, 2011 - 03:39 pm - Link - Report abuse 0Well said !!
I have dollars at 6, who wants some? :-))
Well Jorge Ferreiro you are the economic genius.Explain to me how inflation has anything to do with the actual real economic growth rate.The growth rate refers to the actual increase in goods and services in real terms.
Nov 17th, 2011 - 04:58 pm - Link - Report abuse 0IE: Car production, agri production, wine production,etc.You are clueless everyone knows all these things are growing in REAL TERMS at incredible levels in Argentina.
Imagine any countrys people voteing in a President with 54% of the vote if growth was negative get a grip on reality.You are so anti Peronist you cannot see reality
9 Artillero601
Nov 17th, 2011 - 05:27 pm - Link - Report abuse 0“I have dollars at 6, who wants some?”
Dear Pomi,
Green toilet paper at 6?
http://www.youtube.com/watch?v=KpR8SWNGiU0
@ 2 Stop blaming other people, Cristina manufactured a reality, people believed it because they wanted to. Now just lay back and relax, and watch them party until the party's over, because weird and funny things will happen in Argentina in the next weeks, we'll see lots of cannibalism among the Peronists as money keeps flying away until it reaches their bank accounts, the Argentine political nobility will get all the money, and for the common people, as we like to say, garlic and water (something like: like it or lump it) hahaha
Nov 17th, 2011 - 05:39 pm - Link - Report abuse 0Arg actually doesn't have many reserves, they are quickly being depleted, BCRA has been spending U$ 100-200 Million a day to try to keep the peso from free fall.
Nov 17th, 2011 - 06:11 pm - Link - Report abuse 0They can't fall below 39B or the currency will collapse....
Well to be fair, most of you voted for her,
Nov 17th, 2011 - 06:32 pm - Link - Report abuse 0And most of her bloggers swear by her, according to them, Argentina will be ruling the world as a very rich and powerful nation,
Sadly the world know better,
And when those who voted for her wake up to that, the sooner they may
Save what’s left,
Just a thought .
hhaah so many haters :)
Nov 17th, 2011 - 08:11 pm - Link - Report abuse 0@ 15 laughing is a good therapy, but that won't help Cristina's safety when her voters start shouting “off with her head”, it's just a matter of more wrong decisions, more lies and bad moves :)
Nov 17th, 2011 - 08:34 pm - Link - Report abuse 0PS: How is La Cámpora doing? How are Máximo Kirchner bank accounts? Healty, I guess, because he's as good as his daddy at taking other people's property :)
Maybe you guys are right chaos is near at hand everything is in freefall all we have to do is look at the headlines in the media today alone
Nov 17th, 2011 - 09:55 pm - Link - Report abuse 0PENSIONS DEFICIT REACHES 300 BILLION
DAY OF STRIKES TO GO AHEAD
GROWTH FORECAST DOWN TO TO 1% AND FALLING
1500 JOBS HANG IN BALANCE
HOUSHOLDS GRAPPLING WITH MOUNTING BILLS AND JOB LOSSES
ONE MILLION YOUTH UNEMPLOYED
PERMANENT UNDERCLASS EMERGING
Its disastrous there is clearly no hope the collapse is imminent
these headlines from todays Telegraph,Guardian and Independent in London about England
How they need Cristina there
Notice yankeeboy didn't point out the poor statistical analysis on inflation and growth.and all the fortune tellers who think that over 60% voted recently for CFK and Argentina is to collapse to others pleasure.the point is she was elected to head up the government in managing the affairs of the state.isn't it just the money that some people can predict what is going to happen.can they tell me how things will develop in the UK and USA.hold on I can hear,brilliantly if other countries do as they're told.the same as UK and USA if she doesn't deliver support will shift but in a capitalist democracy she will need to resign,won't she.same as Blair thatcher bush etc
Nov 17th, 2011 - 10:04 pm - Link - Report abuse 0Dear Ogara
Nov 18th, 2011 - 12:13 am - Link - Report abuse 0There is nominal growth and real (corrected for inflation) growth. Zimbawe was a great performing stock market during the early stages of its inflation. Argentina is in the early stages of the Mises “crack up boom”. Everyone feels rich because they have more pesos. However they will soon realize that their increased pesos buy less and less. I am still perplexed why you think that CFK is so great. Seizure of pensions, using “suitcase” money to steal elections, totalitarian squashing of dissent (media law). I think that you are a troglodyte.
inflation is a hidden tax = bad news.
Nov 18th, 2011 - 03:13 am - Link - Report abuse 0Dear Ogara
Nov 18th, 2011 - 04:08 am - Link - Report abuse 0There is nominal growth and real (corrected for inflation) growth. Zimbawe was a great performing stock market during the early stages of its inflation. Argentina is in the early stages of the Mises “crack up boom”. Everyone feels rich because they have more pesos. However they will soon realize that their increased pesos buy less and less. I am still perplexed why you think that CFK
Jorgito: I know uk and Argentina,and Argentina is growing fast!!Real growth.....If you do not know do not talk......
I personally do not voted or like Cristina,but the reality is Argentina is booming....Now Blejer was one of the supporters of the convertibility,that collapsed the country in 2001....Him,Cavallo and the Chicago Boys...Are not the same that colapsed Greece,Portugal,uk,Spain,USA?????
Economists are crooks.....Liars,like the bankers....
everyone feels rich because production in the economy is booming and Argentina grows not on debt but PRODUCTION.Unlike the EU NA BOOM UP TO 07.Georgie baby let me assure you the contempt is entirely mutual
Nov 18th, 2011 - 06:56 am - Link - Report abuse 0The only time i feel rich, is on payday,
Nov 20th, 2011 - 06:45 pm - Link - Report abuse 0Then after the sharks take their little piece, like
rent /mortgages gas electric water local rates, local taxes government taxes, online payments, TV licence ect ect,
Then I feel broke again,
[Cant wait to feel rich again, for at least a little bit ]
@23 Briton,
Nov 21st, 2011 - 04:46 am - Link - Report abuse 0We struggled for many years, taking business chances.
Now we are not rich, but have no financial worries.
lt could quite have easily gone the other way.
very true,
Nov 21st, 2011 - 06:58 pm - Link - Report abuse 0Commenting for this story is now closed.
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