Latin American Economy & Business - November 2016 (ISSN 1741-7430)

Argentina: The contrary economy

Argentina’s economy often swims against the Latin American current, and it seems to be doing so once more. As the Mexican peso slumped and local interest rates tightened in reaction to the victory of the firebrand Republican Donald Trump in the US presidential election, so the Argentine peso has strengthened. In recent months, the Banco Central de la República Argentina (BCRA) has been cutting interest rates from earlier record levels this year. Most notably, unlike most of its Latin American neighbours (with the notorious exception of Venezuela), Argentina still has very high inflation, which recently touched 40%, before beginning to ease back. And although the economy is in recession, it now seems to be enjoying a dollar glut.

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