Argentina's Peso falls 1.42% on Friday, despite a weaker dollar following Fed's Powell speech

Sunday, August 26th 2018 - 04:35 UTC

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Argentina’s peso currency fell 1.42% to a record low close of 30.92 per dollar on Friday, weighed down by an economy slipping into recession, high inflation and uncertainty driven by corruption investigations. Read full article

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Enrique Massot
At last, MP is providing an approximate picture of Argentina’s alarming economic situation.

“...an economy slipping into recession, high inflation and uncertainty driven by corruption investigations,” the MP story noted.

In MP’s previous story, Argentine president Mauricio Macri blames the previous government – a government that ended 32 months ago – for the country’s current lack of infrastructure.

Meanwhile, like a fiddling Nero, the president stubbornly refuses to address the current economical crisis, which may be irreversible at this point.

So much for campaign promises of taming inflation and going towards “poverty zero.”

Now, the current president and his ministers are seen as the orchestra of the Titanic, playing away as the vessel begins to sink.

This sad story will leave an open question: Where are 100 billion US dollars Macri borrowed on behalf of Argentina?
Aug 26th, 2018 - 06:09 pm - Link - Report abuse -1
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chronic
Where's the bottom?
Aug 31st, 2018 - 01:04 pm - Link - Report abuse -1
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