Argentine economy contracted 2.5% in 2018, after shrinking 6.2% in fourth quarter

Friday, March 22nd 2019 - 09:00 UTC

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Argentina’s economy contracted 2.5% in 2018, the official statistics agency said on Thursday, as the Latin American country’s leaders struggle to revive growth after being rattled by a currency crisis and steep inflation over the past year. Read full article

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Enrique Massot
Certainly, this latest information showing by how much the Argentine economy has shrunk in 2018 goes on to confirm previous information about an accelerated decline of the activity, loss of jobs, closure of thousands of enterprises, dwindling consumption and many more discouraging news.

Today, La Nacion newspaper informs, the Argentine monetary unit, the peso, is suffering yet another devaluation, as the US dollar goes to cost 43 pesos from 41 pesos, in spite of a reference interest rate of 66 per cent.

On top of that, a developing scandal is rocking the very foundations of the Macri government. A federal judge investigating an extortion case popularly known as the D'Alessiogate has found connections among members of the judiciary, members of the Macri government, Cambiemos legislators, members of state intelligence and a journalist of the Clarin newspaper, working to intimidate members of the opposition and obtain cash from business people under threat of negative press and arrest.

Clumsy attempts by a government on the defensive to take the case out of hands of judge Alejo Ramos Padilla had a response on March 21 in the form of demonstrations in several cities in support of the judge.

https://www.youtube.com/watch?v=0x-uzz_-QFo
Mar 22nd, 2019 - 05:03 pm - Link - Report abuse 0
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