This Is Why Argentina's Peso Has Collapsed

Desmond Lachman, The Hill: Argentina is running out of tools to lift its plunging currency

It would be a gross understatement to say that all is not well with the Argentine economy.

Despite a $50-billion support package from the International Monetary Fund (IMF), the Argentine peso is in freefall, inflation is accelerating and the economy is heading toward yet another deep recession.

This has to raise questions as to whether it will be Argentina rather than Turkey that is the first to impose exchange controls in response to their respective economic crises.

Since the middle of this year, nothing seems to have worked to stabilize the Argentine peso, which has lost almost half of its value since the start of the year, making its performance even worse than that of Turkey.

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WNU Editor: A brief but very good analysis on why the economic reforms of President Macri have failed.

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