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Argentina: Savings Accounts or Direct investment: here is the innovative way to invest saved dollars in times of crisis

The recurring crises in Argentina generated that it has large amounts of money saved without many investment options. With a minimum investment of USD 500, Agropecuaria Surmax allows savers to obtain an attractive annual income in dollars with semiannual interest payments. Argentines have had a general distrust of the financial system for years, added to the economic policy of exchange restrictions, causing many Argentines to doubt a lot when making a financial decision. It is known that Argentina has experienced…

Argentines have USD 250 Billion stashed outside the financial system, says INDEC

Deposits in bank accounts abroad, safety deposit boxes at home or hidden “under the mattress,” shares, bonds all contribute to this total. Argentines have an estimated US$250.4 billion stashed outside the domestic financial system, according to the INDEC national statistics bureau. The figure, corresponding to the last quarter of 2020, was included in the bureau’s recent report on “Balance of payments, international investment and foreign debt” under the item of “Other investments.”…

Is Anyone Crazy Enough to Lend to the Argentina government?

In June 2017 Argentina sold US$2.75 billion of 100-year bonds and I wrote then that “Argentina is unlikely to get through a decade without defaulting let alone 100 years”. It wasn’t a particularly radical call for a country that had defaulted four times in the previous 35 years. In August 2019 Argentina announced it planned to default and was seeking talks with its lenders to restructure its debts, sending the price of its bonds plummeting. This week Argentina struck a deal to restructure its debts on…

Economic Misery in Argentina as reforms are slow to take effect

Since taking office more than three years ago, President Mauricio Macri has broken with the budget-busting populism that has dominated Argentina for much of the past century causing crisis after crisis, embracing the grim arithmetic of economic orthodoxy. President Macri has turned away from left-wing populism. He vowed to shrink Argentina’s monumental deficits by diminishing the largess of the state. The trouble is that Argentines have yet to collect on the other element the president promised: the…

The Trouble with Argentina’s Economy

With sustained economic growth, Argentina would be able to avoid another debt crisis. Although there are no silver bullets to put the economy on a more stable path, changing current macroeconomic policies would at least give the country a chance. In 2018, Argentina experienced a currency crisis and stagflation. Annual inflation reached 47.6%, GDP fell by 2.5%, and unemployment and poverty increased. These indicators reflect chronic problems. Argentina’s economy has shrunk in four out of the past seven years.…
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