Argentina's Peso hit a record low to the dollar weakening 4%

Friday, March 8th 2019 - 08:58 UTC

Full article 4 comments

Argentina’s struggling currency hit a record low against the dollar on Thursday, weakening over 4% to close at 42.5 pesos per dollar, a challenge for President Mauricio Macri as he looks to right the economy ahead of elections in October. Read full article

Comments

Disclaimer & comment rules

Enrique Massot
Argentine president Mauricio Macri has succeeded in breaking all known records for the speed in which he has put the country at the edge of another default.

This, of course, is the same president cajoled by the developed world and by most living dinosaurs because he was coming to show how he could do much better than the “populist” government of Cristina Fernandez de Kirchner.

To arrive to power, Macri showered electors with promises, none of which has come to fruition. He was going to drastically reduce inflation, make “poverty zero” a reality, and leave in place all that was good and improve what was wrong.

Instead, he and his team pillaged the country, allowed foreign capitals to come and go as they please as they made juicy profits on record-high interest rates, and in just three years put the country on its knees.

And MP prolific commentators who painted anyone daring to predict the above as a sinister member of an international Communist brotherhood have all mysteriously vanished now.

They may not want facts to get in the way of their assumptions.
Mar 08th, 2019 - 05:03 pm - Link - Report abuse -2
-+
Zaphod Beeblebrox
The populist government of CFK was incompetent and corrupt. Macri is arguably incompetent.

People tend to vote for the least worst available option.

““Unfulfilled promises won’t affect next year’s elections,” predicts political analyst Marcos Novaro. “The peso did plummet and inflation did get out of control during 2018 but I suspect voters won’t blame Macri for that because many feel Cristina would have made an even worse job of the economy.”” https://www.theguardian.com/world/2018/dec/29/argentina-mauricio-macri-cristina-fernandez-de-kirchner-election-year
Mar 12th, 2019 - 04:49 pm - Link - Report abuse 0
-+
Enrique Massot
@ZB

You suggest CFK is corrupt and Macri isn't.

In Argentina, many are hoping that Macri loses the October election so that Macri can finally be prosecuted for numerous affairs of which his offshore companies and the Correo Argentino affair are just samples.

In the meantime, heinous persecution of Cristina by rogue judge Claudio Bonadio is still to yield a conviction.

Another thing. Macri is anything but “arguably incompetent,” as you suggest. Macri is, on his maternal side, an oligarch at heart. He does not know what is to go hungry to be day after day. The man has zero empathy and is full of contempt for the masses of the unwashed. Years ago he said the main problem in Argentina is the high labour costs. That is what he is working to correct, and he is succeeding. He had also hoped to obliterate Peronism as a political force--here is not succeeding, but he is achieving the opposed result.

”...voters won’t blame Macri...Cristina would have made an even worse job.”

Denial too is bliss.
Mar 12th, 2019 - 07:22 pm - Link - Report abuse 0
-+
Zaphod Beeblebrox
“You suggest CFK is corrupt and Macri isn't.”

I am sure Macri isn't 100% innocent but he certainly hasn't enriched himself to the obscene levels that CFK did.

“In Argentina, many are hoping that ... Macri can finally be prosecuted for numerous affairs... In the meantime, heinous persecution of Cristina by rogue judge Claudio Bonadio is still to yield a conviction.”

So, CFK shouldn't be prosecuted if there is evidence of corruption but Macri should be? Innocent until proven guilty in all cases, but if there is evidence of a crime it should be pursued. How exactly did CFK get so rich?
Mar 13th, 2019 - 05:00 pm - Link - Report abuse 0
-+

Commenting for this story is now closed.
If you have a Facebook account, become a fan and comment on our Facebook Page!