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IMF joins Argentine GDP linked bonds controversy involving potential payment of 3bn dollars
The International Monetary Fund reported on Monday a steep deceleration of Argentina’s economic activity for 2014, in a context of “high uncertainty”, according to its latest World Economic Outlook released in Washington. Read full article
Comments
Disclaimer & comment rulesThe shamelessness of this government is really extraordinary. This latest lie shows a tremendous lack of manhood on Kiss y Loves part, and is a huge embarrassment for decent Argentines. This gov't makes Argentines look like as a bunch of pussy whipped beggars - not even heroin addicts present such pathetic lies.
Apr 09th, 2014 - 10:15 am - Link - Report abuse 0Luckily we still have Maravilla Martinez!
If someone was even accountable someday for saying so many lies.
Apr 09th, 2014 - 11:24 am - Link - Report abuse 0I really doubt that in all the K years GDP per capita was ever higher than in the 1997-1998 period. And that is saying something.
Eventually there will be lawsuits for the GDP linked and Inflation linked bonds.
Apr 09th, 2014 - 11:54 am - Link - Report abuse 0I think that and the massive public theft are the main reason CFK has forbid the IMF to audit.
TMBOA cannot afford an audit, any audit, of the financial “standing” of The Dark Country even one done by the Boy Scouts.
Apr 09th, 2014 - 12:15 pm - Link - Report abuse 0As for Kickitoff he is just picking a number below the trigger point and everybody knows that to be the case.
Nice move by the IMF though using the “new and improved” formulas that INDEC or somebody has come up with.
Delaying things to September in the hope that SCOTUS will side with Argentina and give them some respite is likely to be the last gamble open to them.
The Rgs have always lived well beyond their means, basically living paycheck to paycheck and only paying the bills that have immediate impact on their existence. Its just like an over extended middle class family., trying to keep up appearences but being dogged at every corner until eventually comes crashing down when the credit cards are maxed out.
Apr 09th, 2014 - 12:23 pm - Link - Report abuse 0What a horrible way to live when 40MM people are taken down with you.
Argentina will look more like Bolivia than Chile by the next generation unless something is radically changed.
@5 That is the pot calling the kettle black.
Apr 09th, 2014 - 12:35 pm - Link - Report abuse 0Unlike the US most Argentine's are not mortgaged to the hilt living in huge houses driving the latest SUV with a boat behind.
Most bills here have to be paid within 2 weeks or your power/gas gets cut off.
I agree with your #3 comment though.
I found a very interesting review and prediction “Mingo” made in February about the possible situation that the Argentine economy would be in 2015, the next gov't can face two possible outlooks and the situations in between, one the most “positive” is at a level of 50% inflation the other one negative already at 100% inflation and the situation spiraling out of control.
Apr 09th, 2014 - 12:45 pm - Link - Report abuse 0Mingo was right about his prediction of “Stagflation” in 2008 when the economy was booming everybody was laughing at him.
http://www.cavallo.com.ar/?p=2113&wpc=2#comments
7. Yeah I read that awhile ago. That's a pretty good blog, he's a nice man I met him once at my club many years ago.
Apr 09th, 2014 - 12:51 pm - Link - Report abuse 0When food, fuel inflation is running 9% /mo there is no frigging way the New INDEC is correct at 4%.
As I said you'll be lucky if its 50% this year. They will devalue again and then GOK where it will end up.
I have been doing my own totally unscientific inflation index using the price of pink Salmon.
Apr 09th, 2014 - 01:01 pm - Link - Report abuse 03 years ago I could buy it for 85 pesos a Kilo
6 months ago it was 165 pesos at Jumbo.
3 weeks ago it was 199 pesos (Jumbo)
Last night 240 pesos (Jumbo)
Sh*t is spiraling out of control fast.
9. Is that a can? That would be incredibly high for something we pay for U$3.50/can here.
Apr 09th, 2014 - 01:11 pm - Link - Report abuse 0No, it is fresh Pink Salmon from Chile per KG
Apr 09th, 2014 - 01:43 pm - Link - Report abuse 0We pay about U$20/kilo for Scottish Salmon so that's not too bad really. 12/1.
Apr 09th, 2014 - 02:02 pm - Link - Report abuse 0You'd think it would be a little cheaper there.
The increase is absolutely incredible over the last 3 weeks it must be due to the devaluation. Which of course “Kill me now” said wouldn't have any effect on prices and swore retribution to those who increased prices.
@11 / 12
Apr 09th, 2014 - 05:13 pm - Link - Report abuse 0The Fresh Pink Salmon Index - the gourmet equivalent of the Big Mac Index.
Salmon here is relatively expensive as it is an export product, hence the price in the supermarket is close to the price the producers can get for export.
1 kg of fresh salmon in my local supermarket approx US$18
Given that freshly caught Congrillo or Lenguado costs the same and Reineta costs half, I seldom buy Salmon.
Klingon, Chilean fish from a Chilean supermarket. If Toby ever rises to power, you will be fist against the wall. Night of the long filleting knives.
#9 Klingon Fresh Atlantic Salmon is about U$10 per pound in the Boston area or 22 per kilo. And the Northeast is a huge fish market area (Cape Ann and Gloucester). Sockeye from Alaska runs U$15 a pound or 33 a kilo. Perhaps that's a good comparison....but it's also winter prices when fish is at it's peak.
Apr 09th, 2014 - 08:43 pm - Link - Report abuse 0On 21/03/2014 at Tienda Inglesa, PdelE I bought 1.8Kg of Chilean fresh salmon for BP£ 43.54 / USD 72.27 / UYU $ 1,619 or USD 40.15 per kilo.
Apr 09th, 2014 - 09:00 pm - Link - Report abuse 0Last year about this time I was paying UYU $ 650Kg. This year it’s UYU $ 900 or 38.5% more expensive.
Pepe and his thieving Tupas reckon inflation is 7% the lying commie bastards.
But I’m worth it! Ha, ha, ha.
I see CFK has been twittering away claiming “sure things are bad, but not that bad” and 'better than 2003”. Really? Says who?
Apr 09th, 2014 - 10:46 pm - Link - Report abuse 0A leader that tries to sweep away the problems when her public are more than a little agitated has the Marie Antoinette fate ahead of her.
I agree ElaineB!
Apr 10th, 2014 - 02:31 am - Link - Report abuse 0Soon she will be saying “Let them eat cake”...
16. I lived there in 2003 and it was not this bad, inflation was non-existent and crime was controlled.
Apr 10th, 2014 - 11:18 am - Link - Report abuse 0I think the dingbat is delusional.
in Greece we pay (euro)
Apr 10th, 2014 - 11:44 am - Link - Report abuse 0gouda cheese 7.25
chicken breast 7.50
veal steaks 10
milk 1.40
bread 0.70-1.00
potatoes 1.00
tomatoes 1.50
feta cheese 10.00
Heineken 1.20
Johnny walker 17.50
sardines 5.00
and we have deflation...
@16
Apr 10th, 2014 - 09:45 pm - Link - Report abuse 0She'll have your account blocked in no time.
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