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Montevideo, November 20th 2018 - 13:44 UTC

Argentine currency drops to a new record low of 39.90 pesos to the US dollar

Friday, September 14th 2018 - 09:28 UTC
Full article 13 comments

Argentina's peso currency fell 3.51% on Thursday to close at a new record low of 39.9 per U.S. dollar, as market confidence ebbs away despite President Mauricio Macri's efforts to reassure investors. Dollar demand had risen on Thursday due to high liquidity sparked by an auction of treasury notes, traders said. Read full article

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  • chronic

    Reeeeeeeeeeeeeeeeeeeeekie:

    Please explain once again how this is a product solely of macaroni's misgovernance and how Cretina's actions in no way contributed to this calamity or why modern history isn't a harsh indictment of rg society writ large.

    Roflmao in expectation of your preposterous spontaneous regurgitation of leftist dogma.

    Sep 14th, 2018 - 01:22 pm - Link - Report abuse +4
  • Enrique Massot

    Politically dead man walking Mauricio Macri clings to a shadow of a government as IMF geniuses dictate their next steps for them from Washington.

    So, in the absence of a constitutional end to the bleeding, the country will continue its downward spiral toward total collapse of the economy.

    In this pitiful way will conclude another failed attempt of the Argentine elites to set the country's clock back to a golden era where wealth was kept in a few hands and the majorities lived a life of misery.

    Sep 14th, 2018 - 04:20 pm - Link - Report abuse -5
  • bushpilot

    The Golden Era was really the “life of misery” Era.

    That Argentine prosperity was in reality, misery.

    Only a few in Argentina want to revisit those days.

    Sep 14th, 2018 - 05:13 pm - Link - Report abuse +1
  • golfcronie

    “ where wealth was kept in a few hands and the majority lived a life of misery ” You could say that for every, and I mean every country of the world. Even the communist and left leaning countries are no exception, open your eyes that is what makes the world go round.

    Sep 14th, 2018 - 07:42 pm - Link - Report abuse +2
  • Chicureo

    During Argentina's former corrupt kleptomaniac government, the country moved away from market oriented policies with stupid imports substitution protectionist measures with ignorant national control over its vast natural resources and completely alienating foreign investments, while continuing to avoid paying its international obligations. This while squandering its potential for growth and progress while blaming all their problems on others as Enrique wants us to believe.

    Sep 14th, 2018 - 07:59 pm - Link - Report abuse +5
  • The Voice

    No one trusts Argentinian institutions or even Macri's government. Whats the answer? Perhaps Enrique can provide a solution? Bring back CFK? Lol!

    Sep 14th, 2018 - 10:21 pm - Link - Report abuse +2
  • Enrique Massot

    “During Argentina's former corrupt kleptomaniac government...” yada yada.

    Chicureo keeps talking about a government that ceased to exist three years ago to keep attention away from the deeds of the current government. That's no different from what Argentine government-paid trolls and the mercenary media parrot incessantly as the country slides deeper into crisis.

    Say, Chicureo: How long until the current team becomes responsible for the country they govern?

    Just as an example, Nestor Kirchner received a country deep in s...t in 2003, and in less than three years the economy had taken off and the country was paying off its debt with the IMF.

    Hello?

    Sep 14th, 2018 - 10:39 pm - Link - Report abuse -4
  • The Voice

    So whats the solution? Emigrate to Calgary no doubt…

    Sep 14th, 2018 - 10:42 pm - Link - Report abuse +3
  • Chicureo

    Nestor Kirchner indeed received a country deep in in 2003 and in 2015 his widow left the country far deeper in debt, with a dysfunctional infrastructure and mountains of stolen cash in offshore accounts.

    Sep 14th, 2018 - 11:53 pm - Link - Report abuse +5
  • Enrique Massot

    @Chic

    Chicureo, now it's evident that you are not only a loyal Pinochetist; you also are a troll in fa fishing expedition. Let's take a look at your brainless statements:

    “...far deeper in debt...”

    False. In December 205, president Macri received a country with a foreign debt equivalent to 30 per cent of the GDP. Now the debt represents 80 per cent of GDP. Macri

    “...with a dysfunctional infrastructure...”

    Still false. According to OETEC, during the 1984 - 2015 period, 81 per cent of the total invested in infrastructure works was done between 2003 and 2015. Of course much remains to be done, but the Macri government has not achieved much in the last three years.

    During the 2003 - 2015 period, 71 per cent more residences and industries, as well as shops, schools, hospitals, were built than during 1993-2002 years, during the menemist, Alianza and Duhalde governments.

    “...mountains of stolen cash in offshore accounts.”

    Come on. The stupid statement above has been propagated by the current government and its friendly media, and friendly judge Claudio Bonadio has searched Cristina residences not one but several times, while excavators and bulldozers dug looking for buried money. However, not much besides the famous “Lopez' bags” containing nine million dollars has ever been found. When the Macri sbirs went to look for Chicureo's wet-dreamed offshore accounts with help from the vultures financiers that looted Argentina funds, they found several accounts belonging to Macri and associates, but none belonging to Cristina or her associates. Perhaps they'll find something someday, even if they have to plant it.

    Sep 17th, 2018 - 12:42 am - Link - Report abuse -3
  • Zaphod Beeblebrox

    Reekio,

    “In December 205, president Macri received a country with a foreign debt equivalent to 30 per cent of the GDP. Now the debt represents 80 per cent of GDP.”

    You don't say where you get this data from, but https://tradingeconomics.com/argentina/government-debt-to-gdp has government debt (I'd assume that this is total debt):GDP as 52.6% for 2015 and 57.1% for 2017.

    “According to OETEC, during the 1984 - 2015 period, 81 per cent of the total invested in infrastructure works was done between 2003 and 2015.”

    These statistics do not relate to the Macri years.

    “Of course much remains to be done, but the Macri government has not achieved much in the last three years.”

    You may be correct, but this is an opinion that is not supported by the facts you present.

    “During the 2003 - 2015 period, 71 per cent more residences and industries, as well as shops, schools, hospitals, were built than during 1993-2002 years, during the menemist, Alianza and Duhalde governments.”

    Fantastic, but what has this to do with the Macri years?

    It is good that you are now making an attempt to present some data rather than just opinion, but you need to work harder to align your data with your conclusions.

    FYI and some historical perspective that you don't get from cherry-picking data, the complete Govt debt:GDP figures are:

    2002-166.7%
    2003-139.2%
    2004-118.1%
    2005-80.2%
    2006-70.6%
    2007-62.1%
    2008-53.8%
    2009-55.4%
    2010-43.5%
    2011-38.9%
    2012-40.4%
    2013-43.5%
    2014-44.7%
    2015-52.6%
    2016-53.3%
    2017-57.1%

    These show a downward trend until 2011 and it has been an upward trend ever since. You can't blame Macri for the 2011 reversal.

    Sep 17th, 2018 - 06:26 pm - Link - Report abuse +2
  • chronic

    As always, Reeeeeeeeeeeeeeeeeeeekie never fails to deliver.

    Thanks for the humor.

    News flash:

    It's rg.

    The political bent of the party in office is largely immaterial.

    It's all about the culture and people - stupid.

    Rg is corrupt and is going to thieve.

    The only question is whether its going to be the few or the many conducting the industrial scale larceny.

    It might reasonably be put forward that corruption on the left has been more injurious to the possible development of a modern infrastructure for rg and that this limits the chances of it ever having more than a marginal production reliant economy.

    Sep 18th, 2018 - 12:34 pm - Link - Report abuse 0
  • Zaphod Beeblebrox

    Reekio,

    “the country will continue its downward spiral toward total collapse of the economy.”

    I know this is arguably not a representation of the current state of Argentina's economy and it is a bit of a coincidence, but two (2) people I know in Argentina were offered jobs there yesterday! Proper, full-time, paid jobs with two different employers in Buenos Aires. Good for them!

    If you were to believe Reekie, the merchant of doom, then any new job in Argentina would be a rarity, but two in one day would be impossible!

    Sep 18th, 2018 - 05:12 pm - Link - Report abuse 0

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