Capital flight in Argentina doubles to 18 billon dollars in nine months of 2011

Thursday, December 8th 2011 - 06:47 UTC

Full article 3 comments

Argentine capital flight accelerated to the fastest pace in at least 10 years in the third quarter as investors concerned about inflation and a weakening Peso pulled cash out of South America’s second-biggest economy. Read full article

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Pirat-Hunter
I always wonder how many Argentines get their salary in U$ dollars or Mexican pesos or Peruvian sol...in 2001 I was wondering if the Argentine banks where soo poor that they didn't have a printer to print pesos, as it turns out apparently they didn't.
www.en.wikipedia.org/wiki/Corralito
Dec 08th, 2011 - 10:31 am - Link - Report abuse 0
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ChrisR
2001 was a very difficult time for Argentina.
Regrettably, CFK has learnt nothing from history and still goes for restricting currency. It is no wonder that anyone with savings would want them out of the country before they devalue further, especially as a direct result of rampant inflation. Bit of a no-brainer this one.
Dec 08th, 2011 - 10:58 am - Link - Report abuse 0
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yankeeboy
With the oil/gas companies and all the foreign companies “advised” to keep their $ in Arg I would hope they have stopped some of the outflow....but I bet they haven't otherwise they wouldn't have an all out presser trying to tamp down the fear in the general population.
BTW in Argentina when a Minister “advises” you he does it with a gun on his desk and tells you he knows where you and your family is at all times.
Dec 08th, 2011 - 12:17 pm - Link - Report abuse 0
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