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The 2018–present Argentine monetary crisis is an ongoing severe devaluation of the Argentine peso, caused by high inflation and steep fall in the perceived value of the currency at the local level as it continually lost purchasing power, along with other domestic and international factors.
Although there is no clear consensus on the causes of the Argentine crisis, there are at least three factors that are related to the collapse of the currency board system and ensuing economic crisis: The lack of fiscal discipline; Labour market inflexibility; Contagion from the financial crises in Russia and Brazil.
Evolution of GDP growth. The economic history of Argentina is one of the most studied, owing to the "Argentine paradox". As a country, it had achieved advanced development in the early 20th century but experienced a reversal relative to other developed economies, which inspired an enormous wealth of literature and diverse analysis on the causes of this relative decline. [2]
Argentina's central bank bought $190 million in foreign exchange markets over the past week to weaken its peso currency, a radical change from just months ago when it was spending billions to prop ...
BUENOS AIRES (Reuters) -Argentina will weaken its peso over 50% to 800 per dollar, cut energy subsidies, and cancel tenders of public works, new Economy Minister Luis Caputo said on Tuesday ...
The abrupt departure of Argentina's economy minister and lack of a clear successor could threaten to further destabilize an economy already shaken by sky-high inflation, rising energy costs and ...
November 30 marks the beginning of the 2001 economic crisis in Argentina [6] caused by the rising fear at how rapidly the Argentinian peso was being devalued. This crisis was caused in part by the extensive borrowing Argentina implemented during the presidency of Carlos Menem, and the governments dwindling tax revenue. [7]
Minister Alfonso Prat-Gay takes part in meetings with the IMF and the World Bank, shortly after the end of the default.. The Argentine debt restructuring is a process of debt restructuring by Argentina that began on January 14, 2005, and allowed it to resume payment on 76% of the US$82 billion in sovereign bonds that defaulted in 2001 at the depth of the worst economic crisis in the nation's ...