MercoPress. South Atlantic News Agency
US dollar up in Argentina on fears of Sunday's primaries and the global trade dispute
Argentina’s peso fell 1.8% on Monday to 45.49 per U.S. dollar due to uncertainty over the country’s presidential election and the fallout from U.S.-China trade tensions, traders said. Read full article
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Disclaimer & comment rules“Argentina is highly vulnerable to the current global trade dispute...”
Aug 07th, 2019 - 03:40 am - Link - Report abuse 0Indeed, Macri's “opening Argentina to the world” included eliminating most capital flow regulations, making the country's economy the most vulnerable worldwide to outside events.
The elimination of regulations has allowed a festival of carry-trade and other speculative practices that have kept a steady flow of capital flight -- and this is why a large part of the funds “generously” facilitated by the IMF have made the trip in the opposite direction shortly after being credited.
The only sectors of the economy that have received benefits from the Macri government are, to a certain extent, the agri-export and mining, the energy companies, the banks and other financial institutions.
As for other sectors, they've been losing not only small and medium-size enterprises, but some very large ones.
In a few more days, we'll be able to say how many smart voters are in Argentina.
Well, you certainly won't be one... :)
Aug 07th, 2019 - 04:43 am - Link - Report abuse +2Commenting for this story is now closed.
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