MercoPress. South Atlantic News Agency
IMF forecasts two years of recession for Argentina
The International Monetary Fund anticipates two years of recession for Argentina in a context of “increasing economic misbalances” and “uncertainty” because of the ongoing litigation with the holdouts or 'vulture funds', as well as inflationary tensions. Read full article
Comments
Disclaimer & comment rulesNot paying your debts finally bitting Argentina on the backside. A real shame for the the poor people, led by a corrupt leadership.
Oct 08th, 2014 - 08:52 pm - Link - Report abuse 0CFK, finally running out of other people's money. It is the people who will pay for her ridiculous economic failure and personal corruption.
Oct 08th, 2014 - 08:59 pm - Link - Report abuse 0You don't here too many “UK is finished” remarks on here any more, and wasn't latin america set to be the new global economic power house.
Oct 08th, 2014 - 09:04 pm - Link - Report abuse 0Enjoy your recession Argentina and I would forget two years, try 5-10.
http://www.telegraph.co.uk/finance/economics/11145124/Britain-cements-position-at-top-of-G7-growth-league-as-eurozone-stutters.html
2 years seems like a pretty light sentence for all their crimes against the economy. 20 years to life seems like a more likely sentence when the markets figure in all their antics...
Oct 08th, 2014 - 09:14 pm - Link - Report abuse 0I think rotting roadkill is facing an economic depression.
Oct 08th, 2014 - 09:56 pm - Link - Report abuse 0Pretty sure IMF is basing their info on the lies that are put out by INDEC and BCRA.
Oct 08th, 2014 - 10:17 pm - Link - Report abuse 0You can't have a functioning economy in Argentina if you can't pay for imported fuel and mfg parts.
This recession is a merely a blip going into a long depression.
I'm hoping the elections will see the end of Kirchnerism and her corrupt cronies but looking at the other candidates, it's difficult to see who could drag Argentina out of this self-inflicted quilombo.
Oct 09th, 2014 - 12:18 am - Link - Report abuse 0There is so much talent but not much sensibility and long-term planning........I agree, it's going to be longer than 2 years.
Are they the same people that predicted 10 years of recession in Argentina post-2001?
Oct 09th, 2014 - 02:31 am - Link - Report abuse 0I think they are.
Back to “ignore” bin.
Tobiboy thinks denial is a river in Egypt!
Oct 09th, 2014 - 03:23 am - Link - Report abuse 0No, reply number 3 is Denial:
Oct 09th, 2014 - 03:33 am - Link - Report abuse 0http://www.telegraph.co.uk/finance/comment/jeremy-warner/10720176/A-depressingly-familiar-reality-lies-behind-the-UKs-economic-miracle.html
“economic miracle” based on yet another SCAM. As soon as interest rates blip, there goes UK housing, then goes spending, and there goes the “miracle”.
No investment, no production, no exports, no innovation, no natural resources... The UK is once again chasing after fake growth.
Toboboy
Oct 09th, 2014 - 03:54 am - Link - Report abuse 0Did you miss the bleeding obvious?
Both articles are written by the same bloody newspaper.
Now Mr Genius, what does that tell you? apart from the fact that the UK has a free press!
That no one in the UK believes the numbers spewed by the government.
Oct 09th, 2014 - 03:57 am - Link - Report abuse 0Lol.
Oct 09th, 2014 - 04:07 am - Link - Report abuse 0Never mind the UK.
This story is about the state of your economy not ours.
What you need is a distraction. You Argentines know what that is don't you?
You should do, your doing it now.
PMSL.
Mendoza is doing fine. fine wine, Foodstuffs , light aircraft, hydro tech, retail Center, apiculture, fruits, organic agriculture, oil, minerals, bottled water springs, wine tourism, ski tourism, retail tourism, a sh!tload of shale still untouched, and if worst Comes to worst Chileans by the thousands spending cash whenever a crisis hits.
Oct 09th, 2014 - 04:30 am - Link - Report abuse 0All is good.
@14
Oct 09th, 2014 - 06:36 am - Link - Report abuse 0All very well, pleased for you, but all the above is good but YOU won't be able to afford to buy it with runaway inflation, can YOU not see that or have YOU indoctrinated to such an extent that YOU will not see it?
Dadah!
Oct 09th, 2014 - 07:04 am - Link - Report abuse 0The food police announce a 4.5% rise in prices for the 4th quarter.
All well in Mendoza.
Liesr I tell you, all damn lies!
All that tourism TTT is hoping for involves a lot of foreigners, doesn't it?
Oct 09th, 2014 - 08:31 am - Link - Report abuse 0Nahhhhh! it's down 20% for September.
Oct 09th, 2014 - 08:48 am - Link - Report abuse 0Still not enough though, he needs to try harder. I would suggest a sandwich board and a strategically placed Mendoza street corner. Something along the lines of, “Leave forthwith or be Clarksoned!” on one side and “Monolinguals go home!” on the reverse.
@18 you mean “Monolinguals eunt domus”
Oct 09th, 2014 - 10:09 am - Link - Report abuse 014. Poor Toby, remember he's never lived through a crisis. He has no idea what's going to happen. He can feel something is wrong, food has gotten more expensive, medicine is more, transportation is more except his parents pay isn't more. Now its not keeping up.
Oct 09th, 2014 - 11:07 am - Link - Report abuse 0Where do you cut? Meds? Food? Internet? All 3 are essential to health and his sanity.
Just wait its gonna get worse.
So far its been pretty fun watching his insanity increase.
Think about this, you thought the Rs were crazy last year just wait until next year when there's no sanity meds left in the country!
BTW Toby, you forgot Mendoza's largest employer and largest Rg owned company just filed for bankruptcy and was declared in default. Its just the first of many I presume.
@8, 10, 12, 14. I feel this urge to admire you for your beliefs. What a shame that you're a cretin. A few years from now you will be DEAD. Can't tell you exactly how. It might be hypothermia. Or starvation. Or someone might shoot you, knife you or just cave your skull in. Who knows, someone might even eat you! Who will 'save' you? No-one.
Oct 09th, 2014 - 12:25 pm - Link - Report abuse 0@18
Oct 09th, 2014 - 03:15 pm - Link - Report abuse 0Like it. Please accept my sincere apologies for painting that immature mental picture. No matter how plausible it sounds, I really could not see him leaving his basement to stand on a corner.
Merval is puking.
Oct 09th, 2014 - 04:35 pm - Link - Report abuse 0TWO years? TWENTY years is probly going to be the minimum.
Oct 09th, 2014 - 05:38 pm - Link - Report abuse 0Even if I live longer than my father who was 84 when he died I doubt if TDC will be out of its' own shit by then.
@ Idiot Child Toby wrote: “Mendoza is doing fine. All is good.”
Oct 12th, 2014 - 04:48 pm - Link - Report abuse 0“Caída de ventas: 9,2% en el comercio y 35% en autos” (drop in sales 9.2% in trade and 35% in auto sales)
http://www.losandes.com.ar/article/cae-35-patentamiento-de-0-km-y-9-2-la-venta-minorista
http://www.losandes.com.ar/article/cae-35-patentamiento-de-0-km-y-9-2-la-venta-minorista
Sube 40,6% la tarifa de agua (water price up 40%)
http://www.losandes.com.ar/article/cae-35-patentamiento-de-0-km-y-9-2-la-venta-minorista
52% de repartidores trabaja ‘en negro’ (52% of dispatchers work 'in black')
http://www.losandes.com.ar/article/cae-35-patentamiento-de-0-km-y-9-2-la-venta-minorista
Subió el desempleo 2014Q2 en Mendoza del 4,1% al 4,8% (unemployment [in Mendoza] 0.7 percent points up in 2nd quarter)
http://www.losandes.com.ar/article/cae-35-patentamiento-de-0-km-y-9-2-la-venta-minorista
En agosto se registró la mayor caída del año en ventas minoristas: 10% (in August this year's largest drop in retail sales: 10%)
http://www.losandes.com.ar/article/cae-35-patentamiento-de-0-km-y-9-2-la-venta-minorista
UNCuyo: 34% aprueba sólo 1 materia (In the University of Cuyo 34% of the students finish only one subject a year)
http://www.losandes.com.ar/article/cae-35-patentamiento-de-0-km-y-9-2-la-venta-minorista
Vinos embotellados: las exportaciones se concentran en menos jugadores. En tanto, las ventas al exterior caen en los principales destinos (Bottled wines: exports are concentrated in fewer producers. Meanwhile, foreign sales fall in major destinations)
http://www.losandes.com.ar/article/cae-35-patentamiento-de-0-km-y-9-2-la-venta-minorista
Salarios: en Mendoza se pagan los más bajos de Cuyo (In Mendoza you are paid the lowest salary in the Cuyo region)
http://www.losandes.com.ar/article/cae-35-patentamiento-de-0-km-y-9-2-la-venta-minorista
Tarifa eléctrica: un incremento del 32% (electricity price 32% up)
http://www.losandes.com.ar/article/cae-35-patentamiento-de-0-km-y-9-2-la-venta-minorista
All is good.
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