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Economy & Business - November 2011 (ISSN 1741-7430)

ARGENTINA: A raging argument

Views about Argentina’s economic prospects are becoming increasingly polarised. The government argues that its swift and hefty reduction of subsidies is a first step towards helping the economy achieve a soft landing and getting inflation back down to the levels that prevail in neighbouring countries. The opposition, licking some deep political wounds after a trouncing in the general elections in October, denies that this is possible and claims that the country is again teetering on the edge of an economic abyss. History, certainly, favours the opposition’s argument, because in living memory at least, the economy has always crash-landed when the fuel for its various economic plans ran out. On the other hand, it is just possible that the government’s unexpected and decisive action will break the tradition and the cycle of boom-and-bust.

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