At the extreme end of Argentina in a city known as “The End of the World,” many thought they might be spared from the worst of the coronavirus pandemic. Sitting far from Buenos Aires, health workers in Ushuaia were initially able to contain a small outbreak among foreigners hoping to catch boats to the Antarctic at the start of the crisis.2 comments
Argentina's inflation accelerated slightly in September from August as some easing of quarantine restrictions allowed the economic activity to begin to recover. The consumer prices rose 2.8% in September and increased 36.6% from a year earlier, Argentina's Indec statistics agency said on Wednesday.Add your comment!
The International Monetary Fund (IMF) forecasts that the Argentine economy will fall by 11.8% this year, and rebound by 4.9% in 2021, the credit agency announced. This was stated in the Economic Outlook Report (WEO) called A long and difficult road uphill, where as a result of the pandemic it estimated a fall in world GDP of 4.4% and a recovery of 5.2% by 2021.1 comment
A truck carrying live pigs turned over in the Argentine province of Buenos Aires, and neighbors and other cars looted the cargo and in some cases slaughtered the animals in the highway. The accident took place in the access of Coronale Vidal, some 300 kilometers from the city of Buenos Aires.
By Steve H. Hanke – In addition to facing an acute Covid-19 crisis, Argentina's deadbeat economy is collapsing, and, as usual, the inflation noose is around Argentines’ necks. Argentina’s official inflation rate for August 2020 is 40.70% per year. And, for once, Argentina’s official rate is fairly close to the rate that I calculate each day using high-frequency data and purchasing power parity theory, a methodology that has long proved its worth when compared with official statistics. Today, I measure Argentina’s annual inflation rate at 37%, but probably not for long — the noose is generally followed by the trapdoor.
For the second day running the Argentine Peso was virtually worthless in neighboring Uruguay foreign exchange houses. On Tuesday the Argentine Peso was worth zero, and on Wednesday there was a modest ten Uruguayan cents offered for the battered Argentine currency.
Argentina’s ruling coalition, Frente de Todos, is seeking to impose a one-time tax on wealthy citizens as part of a strategy to solidify the alliance’s populist credentials while boosting government revenue amid a deteriorating economic crisis.
Argentina has extended a price freeze on mobile, internet, and TV services until the end of 2020 after deeming them “essential public services”. The freeze prevents operators from increasing tariffs unless they receive permission from the country’s government. A price freeze has been in place since May and had been due to expire at the end of August.
Argentine former president Eduardo Duhalde emphatically said that the scheduled midterm elections next year will not be taking place if no consensuses are reached by the political system and the overall situation continues to deteriorate.
International Monetary Fund Managing Director Kristalina Georgieva said on Friday the lender has had “very constructive” exchanges with Argentina's new Peronist government and would do whatever possible to assist the indebted country.