Don’t expect Argentine peso to stabilise
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In the wake of last week’s devaluation, Argentina remains in dire straits. But what can we expect from the peso? Santiago Millan, chief Latin America economist at HSBC in New York, investigates
Argentina faces a monumental stabilisation task after the government defaulted on the national debt and devalued the currency. Anecdotal evidence suggests that despite the government’s imposition of ‘soft’ price controls, price levels have begun to rise dramatically. There is a general desire in the
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