Argentina's financial crisis has been exacerbated by the political uncertainty facing the country with its president Mauricio Macri now most likely to be voted out of office at the national elections at the end of the month. However, according to Claudio Zuchovicki, the secretary-general of the Iberoamerican Stock Exchange Federation, the financial downturn is mostly a crisis of confidence in political institutions. Read full article
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Claudio Zuchovicki makes it more complicated than it needs to be, but comes close when he names the lack of a booming local economy as one of the factors in Argentina's current crisis.Oct 14th, 2019 - 10:13 pm - Link - Report abuse 0
In effect, president Macri's administration has all but killed the local economy, which is the factor behind the downfall of Argentines' purchase power, high inflation, record indebtedness and loss of regional economies.
What is surprising is that Macri and his gang appear the only ones who remain oblivious to the economic disaster, felt not only by the poor and the middle class, but by many in society's upper echelons as well -- with the exception of a selected circle of the president's friends and associates.
Argentines, however, have never been fond of dictators and snake-oil salesmen, which is why to his surprise Macri has been rejected by a large majority of electors in the August primaries.