Experts, IMF Fear Argentina’s Economic Crisis Could Affect Region
RELATED:
IMF: Argentina, World Economy Weakening From US Trade War
“A larger-than-expected recession in Argentina could have a significant spillover effect for neighboring countries with strong commercial exposure,” the report states.
Inflation has fluctuated dramatically in Argentina during 2018, it was recorded at 19.2 percent in June and rocketed to around 60 percent in August when the value of the Argentine peso crashed. The peso has lost 52.2 percent of its value in the last year when compared to the US dollar.
“Most people are feeling very uncertain about where the economy is going,” said Daniel Kerner, managing director for Latin America at Eurasia Group.
High inflation has made it difficult for Argentines to make ends meet and pay for basic needs such as food. Gas, electricity, and water prices have also skyrocketed.
“Since Macri, everything is worse. Salaries are never enough to live. You just survive. You cannot save money because bills are very big and your salary too small,” Paula Kushnir, a former Argentine professor, told teleSUR.
Austerity measures and public spending cuts have intensified people’s struggles. About 36,000 workers in the public sector were laid off since 2015 when Macri took office.
“It’s worse for the most vulnerable sectors. I mean, children, handicapped, old people, and poor.”
In 2017, Argentina’s government debt reached 57.1 percent of their GDP (Gross Domestic Product). The highest debt of this kind was recorded in 2002 during Argentina’s Great Depression at 167 percent when the IMF was monitoring the country’s economic policies.
“These events have raised questions regarding the country’s relationship with the IMF because they happened while its economic policies were under the close scrutiny of an IMF-supported program,” a 2003 reportfrom the Independent Evaluation Office (IEO) of the IMF, stated.
Argentina’s general election will be held next year. While Macri’s popularity with citizens has been sinking, foreign investors are concerned with the course of Argentina’s economic situation if he isn’t re-elected.
Source: https://human-wrongs-watch.net/2018/10/14/experts-imf-fear-argentinas-economic-crisis-could-affect-region/
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).
Argentina is suffering from Argentina, IMF loans mob rule and its own government.