The Argentine Peso's Death Spiral It is unusual for this media to issue such a ferocious and devastating note, regarding a government that is absolutely aligned with its interests, which from day one has done nothing but lick like a mangy puppy the hand of the master who has historically been its executioner.
But what is particularly striking is the strategy proposed to confront the terminal crisis.
To solve the problem, President Macri needs to become aggressive in challenging Peronism.
But we cannot ignore the analysis developed by The Wall Street Journal, which is definitively scathing regarding the economic expectations of the Argentine Republic managed by Macri and his gang.
A sharp sell-off in the Argentine peso is sparking fresh inflation fears in South America’s second-largest economy. For a country that relies heavily on foreign capital and has a history of repeatedly destroying its currency, this is no passing storm.
But as the street vendors of buses and trains say, “and that's not all! Because for the same price you can also take…”
The International Monetary Fund's return to Argentina last week with a $30 billion emergency aid package is proof that the government is in a state of panic. But outsiders cannot fix this problem, and IMF austerity is likely only to rekindle isolationist sentiment.
I Original note: www.wsj.com
I Extracted from: sincensura.com.ar
