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Montevideo, September 21st 2018 - 06:55 UTC

Macri addresses the nation; IMF pledges more support but Peso falls 7%, a record 34 to the US dollar

Thursday, August 30th 2018 - 09:11 UTC
Full article 48 comments

Argentina's Peso suffered its biggest one-day slide in almost three years on Wednesday after the central bank sold reserves for a second straight day and the president asked the International Monetary Fund for early release of standby funds. Read full article

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  • golfcronie

    Unions going on strike is surely going to help the economy is it not ?

    Aug 30th, 2018 - 10:07 am - Link - Report abuse +2
  • Patrick Edgar

    What a charlatan . moth** f*****g bast*** has sure got some nerve !

    Aug 30th, 2018 - 11:58 am - Link - Report abuse -3
  • chronic

    Kristy Laggard: When is your sentencing hearing?

    Fifty was just wishful thinking.

    Now it appears to be a fully attainable - intermediate - goal.

    Aug 30th, 2018 - 12:26 pm - Link - Report abuse 0
  • Think

    RIGHT NOW...

    1 U$D = 39.33 ARS... 14% down in 40 minutes...

    CHAU MACRI & Co.

    http://www.ambito.com/932233-sigue-la-megadevaluacion-en-apenas-40-minutos-el-dolar-escala-14-al-record-historico-de--3933-mayorista-se-dispara-un-14

    Aug 30th, 2018 - 02:12 pm - Link - Report abuse -2
  • Enrique Massot

    I too Think the end is near for the Macri government, after the president's Aug. 29 TV call for calm failed to assuage the markets' panic.

    When a government puts its top official on the line and the result is more panic, not even Lagarde can save it from disaster.

    The government may now try cabinet shuffle, but what is required is nothing less than dumping an economic program that is quickly running the country to abyss.

    The clock is ticking.

    Aug 30th, 2018 - 03:28 pm - Link - Report abuse -1
  • Think

    RIGHT NOW...

    1 U$D = 41.50 ARS...

    CHAU MACRI & Co.

    https://m.youtube.com/watch?v=KHapU8B7p28

    Aug 30th, 2018 - 04:09 pm - Link - Report abuse -2
  • Tombar

    What is Argentina's alternative economic program if Macro falls? If you want his government to fail what is the alternative?

    Aug 30th, 2018 - 07:45 pm - Link - Report abuse +2
  • Enrique Massot

    @Tom

    Hey, Tombar, welcome! I don't know why your style rings familiar. Been using another nickname by any chances?

    To answer your question: It does not matter. You ditch Macri and appoint a drunken sailor or the mascot dog Balcarce; that would be a huge improvement.

    Aug 30th, 2018 - 08:00 pm - Link - Report abuse -1
  • Doveoverdover

    Someone need a drunken sailor for a mission of national importance? I'm your man!

    Aug 30th, 2018 - 08:46 pm - Link - Report abuse +2
  • Think

    Cmdr. Doveoverdover...

    Last time we Argies tried a drunken British (Irish) sailor for a mission of national importance..., it went over all expectations...

    Maybe its time to try another drunken Bitish (Scottish) sailor...;-)

    Aug 30th, 2018 - 09:37 pm - Link - Report abuse -1
  • Enrique Massot

    I remember some postings in MP that questioned the number of times Argentina declared a payments’ default in the past. Some posters suggested the Argentines may be genetically predisposed to borrow and refuse to pay creditors.

    Well: Here, under your very eyes, the next payments crisis is developing.

    And because the whole process developed at such a lightning speed, many MP readers still remember the time the current government took office amid big hopes of growth, prosperity and transparency.

    How this happens?

    A government made up of members of the Argentine privileged disembarks and begin an orgy of borrowing, financial gambling, huge business operations for friends and associates, quashing domestic productivity and purchasing power in the process.

    They empty the country of its embryonic productive structure and sabotage the citizens’ purchasing power by reducing wages in relation to inflation.

    When disaster begins to appear, they remain in denial to the bitter end - after all, most of their assets are securely stashed away in offshore tax havens.

    So now you know how that happens, and you also know most Argentines are reduced to watch in disbelief and suffer the consequences of the plunder of the economy.

    Aug 31st, 2018 - 04:38 am - Link - Report abuse -1
  • Tombar

    Sadly no answers to my serious question then, only rants, resignation, indignation and comedy. Citizens generally get the government they deserve... Look in the mirror and what and who do you see? Could you, should you do better rather than just moaning and complaining? How about being constructive and not just destructive?

    Aug 31st, 2018 - 05:33 am - Link - Report abuse +1
  • chronic

    Reeeeeeeeeeeeeeeeeeeeekie blindly staggers into a wall and thinks it's only the side of an elephant.

    PRODUCTIVITY, REEEEEEEEEEEEEEKIE.

    Rg doesn't possess it - collectively or individually.

    Aug 31st, 2018 - 09:20 am - Link - Report abuse 0
  • Think

    Estimado Sr. Massot...
    Don't spend your powder in chimangos...
    Enjoy instead yesterdays show from two of the most entretaining arselickers from Macri & Co.
    https://m.youtube.com/watch?v=xnYmRM03m7c

    Aug 31st, 2018 - 09:26 am - Link - Report abuse -1
  • DemonTree

    https://www.youtube.com/watch?v=pwyGT5nPswM

    Macri: “No es verdad que el dólar se va a ir a $15”

    He's right, it's not at $15...

    Aug 31st, 2018 - 10:49 am - Link - Report abuse 0
  • Doveoverdover

    Comedy? I Think that's us he's talking about, not that losing money hand over fist is funny in any way whatsoever you understand.

    Aug 31st, 2018 - 01:55 pm - Link - Report abuse 0
  • Think

    I fully understand..., Cmdr...
    By the way..., how's Gibson doing... (or was it Nelson...)

    Aug 31st, 2018 - 02:31 pm - Link - Report abuse -2
  • Zaphod Beeblebrox

    Reekie,

    “appoint a drunken sailor”

    Carlos Lacoste again?

    Well, the drunken Army didn't work so maybe the drunken Navy will? Impeccable logic.

    Aug 31st, 2018 - 06:35 pm - Link - Report abuse 0
  • Enrique Massot

    @Tombar

    Excellent strategy!

    After defending an obviously incompetent government to the bitter end, let's turn the tables on the critics and ask them to provide solutions.

    If they react with sarcasm and irony, then let's accuse them of being destructive.

    “Sadly no answers to my serious question,” disingenuously writes “newcomer” Tombar. “How about being constructive?”

    Stop being an hypocrite, “Tombar.”

    Where is it written that Macri critics must provide solutions that Macri won't even listen to and even less consider implementing?

    Listen now. Macri, or those who tell him what to do, know well what's needed to reactivate the economy. They simply are not interested in doing it--at least for now.

    The proof? During the months prior to the legislative election of October 2017, the Macri government did some tweaking, and the economy reactivated for a while...until the election was over. Once Cambiemos were happy with the results, the economy went down again.

    They know what's needed - without our advice.

    Sep 01st, 2018 - 04:13 am - Link - Report abuse -1
  • Think

    Sr. Massot...

    One chimango down...:-)))

    Sep 01st, 2018 - 06:35 am - Link - Report abuse -3
  • Tombar

    Me thinks Sr Massot doth protest too much... Nothing is written, but surely responsible and concerned citizens have a civic duty to act and write responsibly even if they feel their political leaders do not?

    Sep 01st, 2018 - 10:23 am - Link - Report abuse 0
  • Think

    Me thinks Mr. Tombar doth protest too much...

    Surely..., a concerned MercoPress poster...has a posters duty to write responsibly...

    But sadly nohing from Mr. Tombar but moaning and complaining against other MercoPess's posters...

    How about being a bit constructive and not just destructive...Mr. Tombar...? Could YOU kindly tell us...:

    - What, in your responsible poster's opinion is Argentina's alternative economic program after Macr“o”(sic)“i” olympic fail...?

    Sep 01st, 2018 - 10:56 am - Link - Report abuse -2
  • Enrique Massot

    @Th

    (Addressing Tombar):

    ”What, in your responsible poster's opinion is Argentina's alternative economic program after Macr“o”(sic)“i” olympic fail...?”

    Excellent idea!

    I for one would be very interested to learn how Tombar - and other MP readers - Think ways in which Argentina could be back on its feet once the current government is sent packing.

    Let's start the debate and see a million flowers bloom!

    Sep 01st, 2018 - 03:47 pm - Link - Report abuse -1
  • Think

    Estimado Sr. Massot...

    Soy absolutamente consciente de haber infringido gravemente mi propia recomendación sobre el no gastar polvora en chimangos...

    Pero luego del tremendo escopetazo con el que que Ud. derribó al Tombar ese..., hubiese sido un cruel acto de lesa humanidad el no rematarlo...

    Saludos...
    El Think...

    Sep 01st, 2018 - 04:34 pm - Link - Report abuse -3
  • Tombar

    Thank you for your kind and reasoned comments. I do not claim to have the answers for Argentina as I do not reside there and am not close enough to the domestic situation. But as someone who has many friends there I am keenly interested in its fate. Sadly yet again Sr Massot (goaded by 'Think' - surely an oxymoron?) avoids the issue and invites others to do their work for them. Again I invite them to start the debate which they so reluctantly seem to join. Finally, thank you for pointing out my spelling mistake; sleppchecker is such a nuisance isn't it?

    Sep 02nd, 2018 - 08:41 am - Link - Report abuse +1
  • Think

    TWIMC...

    Me Thinks Mr. Tombar doth protest far too much about issues he is poorly informed...

    Surely..., a concerned MercoPress poster...has a posters duty to inform h(em)self and at least read what other posters write... BEFORE answering them negatively....

    As Sr. Massot clearly wrote above...:
    - ***“ Listen now. Macri, or those who tell him what to do, know well what's needed to reactivate the economy. They simply are not interested in doing it--at least for now.
    The proof? During the months prior to the legislative election of October 2017, the Macri government did some tweaking, and the economy reactivated for a while...until the election was over. Once Cambiemos were happy with the results, the economy went down again.”***

    If you...: “An Anglo poster keenly interested in Argentina and its many Argentinean friends fate”..., Mr. Tombar were the least informed about Argentina..., you would know that Mr. Massot has already answered your childish leadind loaded question...

    I..., meself..., try to keep me comments on issues I'm somewhat informed about..., be it the Malvinas Islands Issue..., Argie politics..., Brexit..., Scotland... or Grindadráp...

    Try that..., laddie...



    But sadly nohing from Mr. Tombar but moaning and complaining against other MercoPess's posters...

    How about being a bit constructive and not just destructive...Mr. Tombar...? Could YOU kindly tell us...:

    - What, in your responsible poster's opinion is Argentina's alternative economic program after Macr“o”(sic)“i” olympic fail...?

    Sep 02nd, 2018 - 09:45 am - Link - Report abuse -1
  • Enrique Massot

    @Think

    Since the inception of the Macri government some 32 months ago, you, I and few others have denounced the anti-popular character of Cambiemos' Joyful Revolution.

    The majority of posters in this forum have consistently expressed support for Macri and mostly attacked the CFK government.

    Wouldn't be nice if some of those crusaders expressed at least some concern for the Argentines, those who are paying dearly for the disastrous economic results of the Macri government?

    After all, those considerations should come before ideology, me Thinks.

    Sep 03rd, 2018 - 05:25 am - Link - Report abuse -1
  • Tarquin Fin

    Hi Enrique,

    “After all, those considerations should come before ideology, me Thinks”

    You are right.

    Which options do we have for October next year?

    I have been pondering the many options. We are screwed.

    Sep 03rd, 2018 - 02:17 pm - Link - Report abuse 0
  • Think

    Options...?

    My boy Axel Kicillof...
    Sweetypie Gisela Marziotta...
    Forward for his age.Casey Wander...

    Options are many... and as Sr. Massot rightly put it above..., even Balcarce could do a much better job...

    Sep 03rd, 2018 - 03:26 pm - Link - Report abuse -2
  • Tarquin Fin

    Oh Think, I'm cracking up! That's a good one.

    Now for real, what options will we most likely have?

    Sep 03rd, 2018 - 06:33 pm - Link - Report abuse 0
  • Think

    Well...
    If you don't want to vote for Gisela Marziotta..., you could aways vote for the guy at the end of the video...
    He does look like a good “PRO Tarquin Fin candidate” from Colegiales...
    https://m.youtube.com/watch?v=siftg8euntQ&t=27s

    Sep 03rd, 2018 - 07:28 pm - Link - Report abuse 0
  • Tarquin Fin

    Thanks for the link. It was really funny. Do you think Prestico would be a good president?

    BTW, I'm not involved with the “PRO”, remember?

    Sep 03rd, 2018 - 07:40 pm - Link - Report abuse 0
  • Think

    Pebete....
    This is Argentina 2018...
    You are either on one side of the grieta or on the other..., remember?
    Makes me remember the 56..., when the gorillas demolished the quinta Unzúe...

    Sep 03rd, 2018 - 07:47 pm - Link - Report abuse -1
  • Tarquin Fin

    I don't care about the gap. Just like what Enrique said, solutions instead of ideologies.

    Give me someone that lets every one of us prosper, there goes my vote. Sooner or later people in this country will have to come to terms with the idea that we cannot live above our means any longer. Just my two cents (peso cents of course).

    Until that happens, let me know if you find any interesting candidates in here:

    https://www.youtube.com/watch?v=C9tUCOFD_mI

    Sep 03rd, 2018 - 07:57 pm - Link - Report abuse +1
  • Think

    No seas falluto..., pebete...
    Your grieta is deeeeep and wiiiide...
    Some of us have memory..., ya know...?

    Sep 03rd, 2018 - 08:06 pm - Link - Report abuse 0
  • Tarquin Fin

    Did you watch the video?

    Both of us did fall for this “grieta” fallacy. I realize that I fell for it. Sh.t happens! Luckily I have always refused to see politics as a football match. That has allowed me to see through that vile veil of lies.

    It's all about the evil “State-Unions-Enterprises” triangle. There's one detail missing from it.

    See? No gap after all.

    Sep 03rd, 2018 - 08:47 pm - Link - Report abuse 0
  • Tombar

    Tarquin Fin says, “Give me someone that lets every one of us prosper, there goes my vote. Sooner or later people in this country will have to come to terms with the idea that we cannot live above our means any longer. ”

    I agree 100% with these sentiments but sadly there will be no one saviour to wave a magic wand. Argentina is, as always, being buffeted by far greater international forces - the rising US dollar, international investors etc.. - whoever is in office needs to understand this and work with the rest of the world...
    In order to succeed Argentina needs to work with these players and not adopt a Canute like posture against them as sadly did the previous administration. Macri has made many mistakes but the direction of travel in my opinion, and of the world in general, has been correct.

    Sep 04th, 2018 - 05:35 am - Link - Report abuse +1
  • Tarquin Fin

    Tombar,

    If you save for the bad times, a.k.a foreign factors, you will surf any storm without major damages.
    Argentina has been living by just making the minimum payments of its credit card ever since I first learnt he meaning of the term ïnflation (ca 1981)
    Macri didn't deliver the change, he just adorned the house with nice lanterns.

    Sep 04th, 2018 - 04:09 pm - Link - Report abuse +1
  • Think

    ***“Nice Lanterns”***
    Where...? Where...? I didn't see any...!
    All what I did..., was hear a lot of big self-evident lies since around June 2015...

    El Think..
    Official “Predicador del miedo” since yesterday...., according to our Neo Cunt president...

    Sep 04th, 2018 - 05:11 pm - Link - Report abuse -2
  • Tarquin Fin

    Think

    Yellow lanterns ... or balloons. Does it make sense now?

    Sep 04th, 2018 - 07:13 pm - Link - Report abuse 0
  • Enrique Massot

    @TF

    “Which options do we have for October next year?”

    The way I see it, October 2019 appears murky. Options will depend on how the different forces align. And this is assuming the current government is able to reach the end of its term, something many doubt now.

    In my opinion, your statement “we cannot live above our means any longer” just borrows from the neoliberal trickle down mantra for the masses “you got to tighten your belts for the time being,” that is, let the rich be richer and eventually some crumbs will trickle down to the populus.

    No sir. Let's admit that the governments of Nestor and Cristina made some mistakes all right. However, they did demonstrate that the country could, at the same time, develop and re-distribute wealth, which in turn fueled consumption thus growth.

    Now Macri has destroyed much of what were the foundations of a modern country. Why? Because Macri, who as you know is a Blanco Villegas oligarch from his mother side, cares about estancieros and other large landowners, agribusiness corporations and financial operations but despises regional economies, small and medium-size enterprises -- in a nutshell, everything that makes the fabric of a dynamic economy.

    Now, you bring in somebody who is not a Peronist nor a Kirchnerist who espouses building a politically and economically independent country with solid basis, built mostly on its own means and where the citizens are at the centre -- that's an option I could support.

    Such political option would, of course, be at the antipodes of what the current government has been doing.

    Oh, and the upcoming government should have as one of its first goals to conduct an audit of the foreign debt. There will be plenty to investigate to see how those dollars were used, misused, or simply stolen.

    Sep 04th, 2018 - 08:02 pm - Link - Report abuse 0
  • Think

    Ouuuuch.....
    “An audit of the foreign debt...?”
    Baaaaaaaad..., baaaaaaaaaaaaaaad boy... ;-)

    Sep 04th, 2018 - 08:26 pm - Link - Report abuse 0
  • Tarquin Fin

    Enrique,

    I have attacked the Kirchners' administrations and have no problem in attacking Mauri's administration as well. I wouldn't feed that early termination ideas any further though. I had several heated discussions opposing Cristina's ousting. And I will do the same again regarding Macri. We need to respect best practices. Doing the opposite will bring us nothing but increased pains.

    I perceive that you've got me for a neo-liberal. You know, that concept around hear just means liberal for the friends and FoF as a natural extension.

    What I actually mean about living according to our means is just that. Don't try to read any further. Example: Start thinking about buying Huawei and don't wet your pants fantasizing about an iPhone. That simple.

    On the other hand, I will always prefer to keep the most money on the side of the workers and not union leader mobsters. Do you think it is fair for people making ARS 15,000 to only get ARS 12,000 in their pockets when the state + unions get ARS 11,500? Wouldn't it all work better if the employee got 15,000 and state + unions got only 5,000? Can you imagine the incredible boost our internal market would get? Or would you rather have the fruits of your efforts being spent by the maffia and its minions?

    That said, you will have to excuse me. I just bought two pints of “Peñon del Aguila” chocolate IPA, one of Cordoba's finest. The tasty bitterness of this brew will hopefully help me forget about the almighty green avenger.

    God is good after all.

    Cheers!

    Sep 05th, 2018 - 12:00 am - Link - Report abuse +2
  • Think

    You have ***“no problem in attacking M A U R I ”***..., huhhhhhhh...?
    And what about M A R I U...?
    https://m.youtube.com/watch?v=uVNtETEjznA

    Como dice la potranca a la final... “Hacéte cargo..., pebete...”

    Sep 05th, 2018 - 03:05 pm - Link - Report abuse -2
  • Tarquin Fin

    I think she's included in Macri's administration.

    Sep 05th, 2018 - 03:49 pm - Link - Report abuse 0
  • Think

    Ayyy perdooooon...
    Es que tu “MAURI” me sonó taaaan blanco hermoso y puro..., vissste????
    https://m.youtube.com/watch?v=lJ883ses8fE

    Sep 05th, 2018 - 04:40 pm - Link - Report abuse -2
  • Tarquin Fin

    My dear friend, why are you trying to tag me as a racist? Did I ever posted racist remarks?

    Sep 06th, 2018 - 01:42 am - Link - Report abuse 0
  • Enrique Massot

    @TF

    “What I actually mean about living according to our means is just that.”

    Well. No matter what your opinions are, I do appreciate you are posting them as an attempt to foster meaningful discussion.

    I Think the current economic situation in Argentina and what will be happening in the immediate future requires constructive dialogue of all political groups with a view of finding a way out.

    In spite of growing instability, I believe the best outcome would be that the current government arrives to the end of its constitutional term and that elections take place as scheduled.

    Going back to the statement of yours that I reproduced above, I agree with “living within the means” but I believe the Macri government did just the opposite by borrowing much more than prudence indicated, and worse, he did just to keep the lights on as opposed to borrowing to make productive investments that would increase the country's capacity of repaying.

    Sep 08th, 2018 - 02:54 pm - Link - Report abuse 0

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