MercoPress. South Atlantic News Agency
Argentina's Merval breaks the 30.000-point barrier and ends 2017 gaining 77%
Merval, the benchmark stock market index in Argentina, ended Thursday's last trading session of 2017 above the 30,000-point barrier for the first time in history. The index rose 2.84% to 30,024.24 after the local government increased the inflation target for the next couple of years, but reinforced its commitment to lower fiscal deficits in the future. Read full article
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Disclaimer & comment rulesWow! Fantastic!
Dec 29th, 2017 - 07:37 pm - Link - Report abuse +1This unprecedented achievement will probably allow the Macri government to avoid reducing payments to retirees, pensioners and families receiving the Universal Child Allocation.
Oooops! I forgot. The Merval index actually went up among other things BECAUSE “President Mauricio Macri managed to pass all the promised reforms in Congress.”
One of such “reforms” modifies the system to keep pensions and child allocation up to date, which will allow the government to “save” 5.3 billion U.S. dollars in 2018.
Understanding of the concepts of economic progress and balanced budgets continues to elude reekie.
Dec 29th, 2017 - 09:37 pm - Link - Report abuse -1Economic progress?
Dec 30th, 2017 - 09:19 pm - Link - Report abuse +1Balanced budgets?
Why don't you explain us, distinguished profesor ciruela, how those concepts apply to Macrinomics?
While we wait for Marti's upcoming lecture, let me cite a recent current affairs story.
Agro industry minister Luis Etchevehere has been denounced for cashing a cheque for 500,000 ARS pesos (USD 26,000) paid by the Argentine Rural Society of which he was president before becoming minister.
Because Etchevehere is in a position to make decisions impacting agricultural producers, the payment for which no clear motive has been advanced could put the minister in conflict of interest. One more case of potential corruption adding to several others being investigated--both from past and current government.
Reekie is avoiding both the question and the understanding. Which is understandable.
Dec 31st, 2017 - 01:12 am - Link - Report abuse -1How about this:
(” RTTNews) - The economic activity index in Argentina, a proxy for the country's Gross Domestic Product (GDP), rose 5.2% in October from a year before - an improvement from September, when the index posted an annual rise of 3.8%. It was the best performance of the index in a year.”
Enrique Why are you surprised? It is in the DNA of Latinos to be corrupt. Just don't get caught that is the goal.
Dec 31st, 2017 - 05:52 pm - Link - Report abuse -1I understand that the major banks in Argentina are no longer allowing Kirchnerists to have accounts, since none of them is capable of balancing a cheque-book.
Dec 31st, 2017 - 06:32 pm - Link - Report abuse -1Commenting for this story is now closed.
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