Back in early December the government of Argentina raised taxes on credit card purchases in foreign currency to 35% from 20%. Online Christmas shopping abroad became increasingly expensive. However, dollars continued to flow out of the country even wit…
Last week the US appeals court ruled in favor of the NY-law bond houldouts (a group of bondholders who did not participate in the swap some years back when Argentina defaulted), forcing Argentina to make payments on these bonds. And paying these dollar…
Argentina’s official economic growth surprised analysts with a 7.8% year over year jump in May.
As I wrote yesterday, government interventions in the marketplace and out of control cronyism have decimated Argentina, one of the most prolific economies of the early 20th century.
Drive the streets of Buenos Aires, and you will see regal architecture that rivals wealthy European enclaves in Monaco or London.
Venezuelan leader Nicolas Maduro with Cristina FernandezOne of the few nations in the Western Hemisphere that rivals Argentina in mismanaging its economy (see post) is Venezuela. The latest economic results show inflation accelerating to recent highs -…
This is a syndicated repost published with the permission of Sober Look. To view original, click here. Opinions herein are not those of the Wall Street…
This is a syndicated repost published with the permission of Sober Look. To view original, click here. Opinions herein are not those of the Wall Street…
This is a syndicated repost published with the permission of Sober Look. To view original, click here. Opinions herein are not those of the Wall Street…
Argentina’s authorities continue to blatantly lie about the nation’s inflation rate. The official numbers coming out of Cristina Fernández de Kirchner’s government have been constantly printed at around 10% per year – with vary little variation. It’s …