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Argentina's economic activity in October falls 4%, year-on-year

Friday, December 28th 2018 - 09:20 UTC
Full article 16 comments

Economic activity in Argentina fell 4.0% in October versus the same month last year, the government said on Thursday, marking the seventh straight month of declines as the country grapples with recession and high inflation. Read full article

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  • Chicureo

    Just to keep Argentina's situation in contex to why it's such an economic mess today:

    https://panampost.com/marcelo-duclos/2018/12/21/argentina-cristina-kirchner-and-cronies-face-real-world-slew-of-criminal-charges/

    Dec 28th, 2018 - 02:18 pm - Link - Report abuse 0
  • DemonTree

    Yes, poor Macri having to take over a country in default, suffering a severe recession and over 20% unemployment, with a greater than 50% poverty rate... oh wait, that was Nestor.

    Funny how the 'wrong' policies resulted in paying off the country's debt to the IMF, while the 'right' ones have forced them to beg for help again.

    Dec 28th, 2018 - 04:34 pm - Link - Report abuse 0
  • Think

    Just to keep Argentina's situation in contex to why it's such an economic mess today...:

    In december 2015..., after 12 years of varicoloured economic measures by the Kirchner adminisration..., the Argentinean Total Public Debt was signficatively reduced from a whopping ~120% to a manageable ~40% of our GNP...

    In december 2018..., after just 3 years of monochrome economic measures by the Macri administration..., the Argentinean Total Public Debt was signficatively increased from that manageable ~40% to an unmanageable ~100 % of our GNP...

    Dec 28th, 2018 - 05:11 pm - Link - Report abuse 0
  • Enrique Massot

    The Macri administration is submitting Argentines to harsh economic measures and has so far benefited from collaboration from union leaders and a sector of Peronist province governors and lawmakers.

    However, the government's most successful accomplishment has been to convince the population that the economic conditions they experienced during the previous Kirchnerist government had been but an 'undeserved fantasy,' a carnival of sorts bound to end up in ominous disaster.

    Such feeling of guilt -- of having voted for a government that 'squandered wealth by redistributing it among citizens' -- has allowed the Macri administration to apply unprecedented, regressive wealth concentration measures while meeting with little popular response.

    However, New Year's advice to Mauricio Macri: don't mix up patience and weakness.


    As they say, 'so great was the pitcher on the font...'

    Dec 28th, 2018 - 06:44 pm - Link - Report abuse 0
  • Don Alberto

    We must not forget to blame Macri of the draught, which caused a huge drop in exports paid in foreign currency. He is probably also responsible for the 5% drop in China's economic activity.

    Dec 29th, 2018 - 06:43 pm - Link - Report abuse 0
  • DemonTree

    Live by agriculture, die by agriculture. The drought shows exactly why too much dependence on agri-exports is bad for a country. And 5% drop in China's economic activity? That would be news to them, what do you mean exactly?

    Dec 29th, 2018 - 11:14 pm - Link - Report abuse 0
  • Think

    “Live by agriculture, die by agriculture”..., alright...

    ~25% production drop from the ultra-optimistic June 2018 crop estimate by latifundist Maurizio Blanco Villegas Macri & Co...
    At ~ 25% lower prices...
    https://www.infobae.com/campo/2018/12/24/por-las-ultimas-lluvias-se-perderian-entre-100-y-150-mil-hectareas-de-soja/

    Ps...
    RIP Hector Marcos Timerman...
    Unjustly stolen his dignity and the last years of his life...
    You..., as your father was..., will be justly vindicated in due time...

    Vincit Omnia Veritas

    Dec 30th, 2018 - 12:48 pm - Link - Report abuse +1
  • Enrique Massot

    @DA

    Don Alberto: It is safe to assume you will shielding the Cambiemos Alliance and president Macri no matter what.

    However, this is now a survival matter for Argentina and no longer a partisan issue. These people are steering the country full speed ahead, in the middle of thick fog, right up against a large iceberg.

    ---------------

    Journalist, activist, diplomat and former minister Héctor Timerman died in Buenos Aires on Dec. 30. He was 65.

    Timerman was Foreign Affairs minister from 2010 to 2015 during Cristina Fernandez de Kirchner's presidency and was prosecuted for “treason” after Mauricio Macri was elected in December 2015 in relation to a memorandum of understanding by which Argentina attempted to solve the bombing of the AMIA building in Buenos Aires. Of course, this prosecution for which Timerman was given house arrest is unprecedented, as the MOU with Iran had been vetted by the Argentine Congress.

    Hector Timerman was the son of Jacobo Timerman, founder of the newspaper La Opinion who was detained-disappeared in 1977 by the civic-military dictatorship in government at the time.

    Those responsible for Hector Timerman's cruel, politically-motivated prosecution will respond for it in due time.

    Dec 31st, 2018 - 01:09 am - Link - Report abuse +1
  • The Voice

    Timerman - the man who bought his shirts on Jermyn Street…

    Dec 31st, 2018 - 02:43 pm - Link - Report abuse 0
  • DemonTree

    Don't be petty, TV. Thanks to the current government meddling with justice, Timerman was unable to go to the US for treatment. It's not a game.

    Dec 31st, 2018 - 04:19 pm - Link - Report abuse 0
  • imoyaro

    Actually He did go to the US, although I'm not sure why the US relented...

    https://www.bbc.com/news/world-latin-america-12464010

    Jan 01st, 2019 - 05:39 am - Link - Report abuse 0
  • Enrique Massot

    @TV

    Such a cheap remark shows more about the author than it does about the intended target.

    @imoyaro

    Stating an erroneous fact and providing a link to unrelated material clearly shows your will to distort and deviate the subject by any means at hand - including lying.

    Fact is, Hector Timerman could not board his plane to receive experimental cancer treatment in the U.S. because judge Claudio Bonadio refused to suspend his preventive house arrest. Subsequently, the U.S. announced it would not grant entry to Timerman and then the airline prevented him from boarding his flight.

    Bonadio denied a terminally ill man a chance to heal or to extend life. This was as petty as most everything this character has been doing to the service of the current government.

    Justice may take time but eventually happens.

    https://www.clarin.com/politica/juez-bonadio-rechazo-excarcelacion-hector-timerman_0_ryo_yVa-M.html

    Jan 02nd, 2019 - 04:47 am - Link - Report abuse 0
  • imoyaro

    As always, Kamerad/Komrade, you lie. That article explained why the US might have been in no hurry to help an overtly hostile politician. As for his “right” to enter the US for treatment, well, there is no such right. Are you saying Argentina does not have the best hospitals in the world? For whatever reason, the US actually extended him a new visa. For my part I look forward to the day that you finally receive the “Social Justice” you so richly deserve. :)

    Jan 03rd, 2019 - 01:08 am - Link - Report abuse 0
  • DemonTree

    You have a very cynical view of the US if think they were so petty and vindictive (though I'm not saying you're wrong). And Enrique never said Timerman had a right to enter the US, but it was his indictment in the AMIA case that lead them to revoke his visa. Also, why on earth shouldn't he admit Argentina's hospitals aren't the best in the world? Are true patriots supposed to claim their country is the best at everything, in defiance of reality?

    Jan 03rd, 2019 - 10:22 am - Link - Report abuse 0
  • imoyaro

    That's the first true thing you ever posted about me. I do indeed have a very cynical view of all countries. Reading (and owning) copious quantities of history books, especially source materials, will do that to you, especially when you've read enough to grasp the historiography, ie what the viewpoint of the author is vis a vis the time period, country, politics, etc. Knowing several languages does nothing to improve my view.

    Jan 04th, 2019 - 04:49 am - Link - Report abuse 0
  • DemonTree

    I haven't posted much about you at all. You're a weird fish, but America's treatment of Cuba certainly supports your view of them.

    Jan 04th, 2019 - 04:29 pm - Link - Report abuse 0

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