MercoPress. South Atlantic News Agency
Thinking in October, Cristina Fernandez demands from banks a new round of low cost business loans
Argentina will demand that banks grant a new round of low-cost business loans from July through December, totalling about 3.8 billion dollars, the central bank said on Thursday. The decision comes four months ahead of mid-term elections next October. Read full article
Comments
Disclaimer & comment rulesWhen the banks go bust from lending at below inflation then what?
Jun 14th, 2013 - 08:34 am - Link - Report abuse 0short term!short term!short term! are there no long thinkers in Argentina?
@1
Jun 14th, 2013 - 10:45 am - Link - Report abuse 0There may be but CFK is not one of them, her main priority is to maintain control after October and to hell with what happens after that. She will deal with that 'when the time comes'.
The banks would be considered bankrupt in any other country. Their “reserves” are in Arg Bonds paying rates below inflation and have been for a very long time.
Jun 14th, 2013 - 10:46 am - Link - Report abuse 0Just for one moment imagine being in CFK'c designer shoes. She must wake up each day thinking life is just shit, one crisis after another and a desperate need to stay in power or face jail. Then she medicates.
Jun 14th, 2013 - 11:01 am - Link - Report abuse 0@3 Yup, they wouldn't meet their Basle III requirements
Jun 14th, 2013 - 11:02 am - Link - Report abuse 0I am expecting a big devaluation and forced U$ to peso conversion after the elections.
Jun 14th, 2013 - 11:08 am - Link - Report abuse 0We're at most a couple weeks away from the NYC verdict too.
Canada 34 million people GDP $1.5 trillion
Jun 14th, 2013 - 11:23 am - Link - Report abuse 0Argentina 41 million people GDP $0.75 trillion
Both big countries with massive natural resources
Problem is heritage ... Canada mainly British, Rgland mainly Latino. Work ethic counts for a lot.
7. Work ethic yes but don't forget the corruption. I think that has played the biggest part of why they are so poor now.
Jun 14th, 2013 - 11:32 am - Link - Report abuse 0It only started after the British and Americans stopped managing the country when Peron kicked them out.
Of course this is because of the upcoming election.
Jun 14th, 2013 - 04:06 pm - Link - Report abuse 0Lots of governments in different countries try to pump up the economy with cash before an election. Infrastructure projects before an election with a big sign to promote the current government is a common enough sight.
It works pretty good I think. But while I am all for people having a say in their government and democracy and all that, this kind of “vote rigging” can't be the best way to run a democratic election, or a democracy.
People fall for this, and all kinds of rhetorical tricks. Seems to me politicians just think the vote, or voice, of the masses is just some kind of token “democratics” that just needs to be gotten around by any old electioneering trick politicians can think of. And then they can move on to what is really important.
DEMAND! WE DEMAND!
Jun 14th, 2013 - 06:13 pm - Link - Report abuse 0Typical fucking arrogant wannabe third world trash thieving leader you poor Argies have elected.
Just saying.
I didn't vote for her, but masses of heedless and delusional troglodytes did.
Jun 14th, 2013 - 06:36 pm - Link - Report abuse 0Also, this move was meant to boost popularity among the mediocre. It was known from the beginning that there will be a high rate of delinquency, and that money will never be repaid.
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