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Montevideo, September 24th 2018 - 19:33 UTC

Argentina will keep to its monetary policy despite a 20% devaluation of the Brazilian Real

Sunday, March 15th 2015 - 02:33 UTC
Full article 16 comments

Argentina’s central bank governor Alejandro Vanoli said that despite the continued erosion of the Brazilian currency against the US dollar, which ended the week trading at 3.28 Real to the greenback, monetary policy will continue to manage the foreign exchange to avoid volatility and ensure economic growth. Read full article

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  • ilsen

    “Argentina will keep to its monetary policy despite ...”

    Despite, overwhelming arguments from qualified international commentators that the policy is wrong, due to massive egos and a victim mentality.

    Mar 15th, 2015 - 03:17 am - Link - Report abuse 0
  • yankeeboy

    Translation, “ We're doing exactly what we want to do no matter how big of a mess it makes right through the next election. Let the next Prez deal with the massive devaluation and default”.

    Stupid arrogant Kthugs.

    Mar 15th, 2015 - 12:21 pm - Link - Report abuse 0
  • paulcedron

    as his face can testify, this imbecile is not even qualified to manage a supermercado chino.
    all his records can be summarized in having been a che pibe and a bootlicker.
    now, the thing is that these imbeciles cannot understand that inflation rate does not only depend on the price of the dollar.
    so, right now we have an inflation rate of +/-40% and a undervalued dollar.
    high inflation rate + sub valued dollar = disaster waiting to happen.
    maybe these imbeciles have to remember what happened in 2001.

    Mar 15th, 2015 - 12:44 pm - Link - Report abuse 0
  • ChrisR

    “We don't know what the problem is!”

    “There is no problem as far as we are concerned: we are still robbing the citizens of every dollar we can find.”

    Does anybody think TMBOA will get away with her life when the end of her 'reign' arrives?

    Mar 15th, 2015 - 12:46 pm - Link - Report abuse 0
  • 313toBioBio

    from the same regime that says 1 to 1 was such a crime and now they do the same thing with fixing 8 to 1. can their model last til election time? eh? lets ask nicolas maduro because it's up to him.

    Mar 15th, 2015 - 01:09 pm - Link - Report abuse 0
  • Conqueror

    @3. Funny. Is this monetary 'ineptitude' the only thing. Or just the one that might affect YOU. Most argies look like him. The 'mobile' face ready for being a 'victim'. Do give us a list of argies that AREN'T bootlickers. Even CFK licks chinky boots. Disaster you think? I do hope so.

    Mar 15th, 2015 - 02:53 pm - Link - Report abuse 0
  • paulcedron

    6
    and how the fuck can you, mongoloid, know if most argentines look like him?
    when was the last time you have been to argentina?
    never?
    and when was the last time your mother let you leave the stinky shack where you live?
    never?
    so shut the fuck up.

    Mar 15th, 2015 - 03:01 pm - Link - Report abuse 0
  • ernest shackleton

    Paradoxically, despite the hight inflation rate and the strength of the USD, the rate of the Blue (black market) dollar has gone down from about 15.50 to 12.50 in the last 6 months, an effective Peso appreciation of 20%. Must be the only currency in the world to have appreciated against the USD. Can anyone explain that? No silly answers please, this is a serious question.

    Mar 15th, 2015 - 03:59 pm - Link - Report abuse 0
  • yankeeboy

    8. BCRA is spending U$20-60MM/day to keep the peso in that range.

    Money they borrowed from the Chinese at very high rates.
    Money they owe to other people

    Doomed.

    Mar 15th, 2015 - 04:17 pm - Link - Report abuse 0
  • Chicureo

    #8 ernest shackleton

    Bernie Madoff pulled off a similar, but far smaller scam by manipulating economic reports and continuing to bring in new sources of credit. Eventually the debt became too unmanageable and markets tanked.

    The Ponzi scheme CFK's government has been running probably will collapse after she leaves office.

    What will the new president do to save Argentina?

    Perhaps the most elegant solution would be for Argentina join the ranks of Ecuador, and El Salvador. By Argentina adopting the dollar as a way of imposing strict fiscal discipline, in effect would turn over monetary policy over to the United States Federal Reserve Board.

    Mar 15th, 2015 - 07:10 pm - Link - Report abuse 0
  • Porto Margaret

    Hey, why not let Judge Thomas Griesa do it from NYC.

    He after all now has a rather good knowledge of how the Argentine economy stumbles. He can't do any worse than the ninnies Hipólito Yrigoyen 250, BA.

    Mar 15th, 2015 - 08:15 pm - Link - Report abuse 0
  • Chicureo

    #11 Porto Margaret

    Brilliant idea. Maybe they could also hire Mr. Paul Singer as a financial advisor.

    Mar 15th, 2015 - 09:40 pm - Link - Report abuse 0
  • ilsen

    Pay your debts, shut up and behave the good child that you should be,

    Norty, Norty!

    Mar 16th, 2015 - 01:46 am - Link - Report abuse 0
  • imoyaro

    Speaking of Ponzi schemes... ;)

    http://www.buenosairesherald.com/article/184427/bonds-to-repay-debt

    Mar 16th, 2015 - 01:20 pm - Link - Report abuse 0
  • yankeeboy

    14. I can't see that happening until everything is resolved in NY and that's going to left up to the next Prez or next 5 Prez if it goes like last time.

    Arg will default on the bonds coming due this year. That's pretty much a given at this point.

    Mar 16th, 2015 - 01:28 pm - Link - Report abuse 0
  • imoyaro

    Well I bet they are excited over this discovery! Should help them pay off the debt. ;)

    http://www.bbc.com/news/world-latin-america-31917900

    Mar 17th, 2015 - 06:13 am - Link - Report abuse 0

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