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Brazil & Southern Cone - July 2018 (ISSN 1741-4431)

ARGENTINA: Argentina returns to the IMF as peso sinks – a bad omen?

At Raid, a mountaineering shop in San Carlos de Bariloche, a town in Argentina’s Patagonia, Paula Navarro has seen too much volatility for her liking in her 15 years running the business, and this year is no different. It’s the start of the Southern Hemisphere winter and the first snow has fallen, a good sign for the ski season. But with Argentina’s domestic inflation expected to reach 30% this year, wages lagging and the currency weakening against the US dollar, Navarro fears a slowdown in tourism will worsen her already flagging profits.

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