Economic collapse in Argentina worsens in a volatile day: Macri blames uncertainty

Thursday, April 25th 2019 - 21:48 UTC

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Argentina lived on Thursday another day in which the dollar rebounded and the country risk exceeded 1000 points. President Mauricio Macri criticized the “short-term” view of the markets and the Central Bank (BCRA) had to intervene by positioning the interest rate at 70% and diverting the futures market to contain the demand on the currency, preventing it from reaching the maximum accorded of 51.45 pesos. Read full article

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Enrique Massot
Mauricio Macri is a fascinating character. He has been the Argentina president for over three years, the country's economy is crumbling, and he blames everyone but him for it.

After blaming the past CFK government and also an eventual future CFK government. He has blamed entrepreneurs, the Turkish crisis, the Brazilian crisis, changes coming from the U.S., etc. Now is the turn of the markets to be the bad boys.

Macri, of course, is in total denial. The distrust of the markets increases as time goes by and the government remains utterly incapable of addressing the rapidly worsening situation (Macri has repeatedly indicated that he is in the good path and won't be changing anything).

Thus ends another “free-market” experiment in Latin America.
Apr 26th, 2019 - 12:51 am - Link - Report abuse 0
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