will depend on what currencies you are investing in , some non-western investors would be looking at amazing opportunities ( assuming Argentina becomes a full member of BRICS ) a Chinese or Indian investor would be well positioned
works for me, Mick
Milei hasn't got a chance.
Taylor Swift is one of those US entities specialising in political interference in pother countries.Milei hasn't got a chance.
Taylor Swift has come out against him.
Taylor Swift's Argentina concert takes political turn as presidential election nears
As thousands of Taylor Swift fans eagerly lined up Thursday for the superstar’s first-ever concert in Argentina, they saw themselves surrounded by posters urging them to not vote in favor of right-wing populist Javier Milei in next week’s presidential election. “Taylor defends lots of positions...news.yahoo.com
gg
hir.harvard.edu
Milei was a healthy second behind the proto-Peronist in the primary vote and, in the run off, then received most of the conservative/ centre right votes to win.
OMG I must brush up on my Spanish! Even with subtitles, this is amazing
OMG I must brush up on my Spanish! Even with subtitles, this is amazing
The funny thing with Argentina:An example of when the ponzi breaks, people are obviously sick of peddling harder and going nowhere.
Argentina’s Economic Downfall : Which Party Will Save the Citizens?
The economic situation in Argentina has been so prolonged that citizens are indecisive about which political party would best help the issue. With inflation reaching record highs, voters are debating if the incumbent can solve the problem or if new leadership is needed to restore economic stability.How Did the Economy Get This Bad?
Serious financial problems arose for the country in the 1980s when markets collapsed, prices rose, currency depreciated, and wealthier citizens fled to more stable countries. During this debt crisis, the government turned to the central bank for financial assistance, leading to rapid inflation because of the increasing money in circulation and decreasing interest rate for borrowing. Since this initial problem, the country has been unable to recover. With the COVID pandemic, shrinking global food supplies, and tighter energy markets, massive inflation has continued to increase in the Latin American nation.
On top of the external international pressures that have resulted in record-breaking inflation, the government has been implementing programs that it is unable to financially sustain; Argentina has deeply subsidized healthcare, energy, universities, and public transportation for its citizens, all of which the government can only afford to fund through the printing of more pesos. Accounting for all these unprecedented global problems and poorly planned government programs, prices have increased massively since 2021 with the country hitting a 90 percent inflation rate (meaning a 90% year-to-year increase in prices) at the end of 2022.
International tensions have complicated Argentina’s economic recovery even more, as foreign nations continue to withdraw their financial support in light of Argentina’s ongoing political and economic challenges. Argentina’s largest default was in 2001 when the government decided to retract close to US $93 billion in loans, causing the nation to lose access to international debt markets, and a similar default happened in 2018. When the pandemic hit in 2020, foreign investors were even more hesitant to assist a country with an unstable financial history due to economic declines in countries across the globe. Therefore, in 2021, foreign investment stood at US $4.1 billion, which is 38 percent lower than the previous year. The national debt now stands at US $382 billion as of September 2022, which amounts to nearly 90 percent of Argentina’s GDP.
Currency Exchange and USD Dominance
The Argentine peso loses value almost daily, despite the government instituting an exchange rate that makes the currency seem more valuable than it really is. With national debt issues and growing inflation, citizens have turned towards an underground exchange rate. This “blue” market currency is often used by locals and tourists who have done their research. The unofficial currency market gives foreigners almost double the amount of pesos that the official exchange rate would give. For example, the official exchange rate equates US $1 to 140 Argentine pesos, but the “blue” market values US $1 at 290 Argentine pesos. This is beneficial for both citizens and tourists because the government has strict restrictions on exchanging and withdrawing large sums of USD from official channels such as banks. Therefore, most people avoid paying with bank cards or using ATMs and try to utilize electronic money transfer services such as Western Union or WorldRemit.
The wealthier populations are able to keep up with the inflation rates because, while rents rise at nearly 50 percent a year, so do their wages. For the richer population, inflation is manageable, but the same does not apply to lower income citizens. This is because the jobs of poor Argentinians typically do not have automatic wage increases to keep up with inflation, and they are unable to buy U.S. dollars. Consequently, the poor population is subject to an extremely small income in comparison to the wealthier population while the prices for every type of good and service increases around them. As of 2020, 40 percent of Argentina’s population lives below the national poverty line. 70 percent of children in the area surrounding Buenos Aires live below the poverty line. With pesos' value falling so rapidly, poorer people are unable to afford food and goods. Many suburbs across the nation have turned towards “trueque” clubs where people, most of whom are women, exchange goods and food for other necessities. These clubs are bartering centers where citizens may obtain any necessities they are unable to afford by means of real currency. With financial situations becoming this severe, citizens are seriously debating which political party will be able to pull them out of the worsening economic crisis.
Political Parties and Polarization
The leading coalitions in the nation are Frente de Todos and Juntos por el Cambio. Frente de Todos is a populist-leftist alliance that encompasses the Peronist perspective on government, meaning they advocate for social justice, political sovereignty, and economic independence. Under this unique ideology, the party does not align with the economic stances of capitalism or communism, but, rather, takes a more populist approach that advocates for the working class. The state advocates for working citizens by taking on the role as the negotiator in times of conflict between management and workers. Therefore, the main supporters consist of those who are in labor intensive jobs and in the poorest socioeconomic standing relative to other citizens. This coalition upholds the main ideals of Peronism and is currently in control of the presidency, with both President Alberto Fernández and Vice President Cristina Fernández de Kirchner (no relation) being proud members. While in office, the presidential administration has increased taxes on exports and high-income households, lowered interest rates, and raised the minimum wage.
The opposing party, Juntos por el Cambio, functions as a liberal-conservative alliance that was established by the UCR (Radical Civil Union) party and the PRO (Republican Proposal) party. This centrist progressive party is in favor of limited spending to reduce the national debt, judicial system reform, and promotion of human rights. This coalition has won the presidency nearly ten times over the past 100 years, including electing President Mauricio Macri in 2015, but it has not held the executive office since then. Despite their absence in the presidential office, the coalition currently holds the congressional majority.
With the growing economic issues in the country, there has also been an increase in political polarization.
Throughout the nation's history all three of these concerns have plagued the government. Every attempt at change in the government and their economic standing has left voters discontent in the past. Leading up to the previous election in 2019, almost two thirds of the population had reported dissatisfaction with the nation's democracy, which has been a common trend since 1983. However, the consensus that change in government has dissatisfied voters in the past may not apply to the upcoming election. Since nearly 75 percent of citizens believe that anyone except the incumbent government could do a better job, this election may be the first time in decades that the Argentine population is satisfied with a change in government control.
In the eyes of Peronists, ensuring that a large change doesn't happen at the end of this year seems to be the most feasible way to prevent problems from worsening. Some citizens are starting to believe that a familiar political force may be needed to solve this crisis, despite them being at the forefront of the current economic situation and instigators of political tension. On the other hand, supporters of Juntos Por el Cambio believe that a change in government is the only way to combat this economic crisis. With large divisions among the nation on who to support, the upcoming election will ultimately answer which coalition the nation believes can save their economy.
To help with answers : usa 110%and France in the 100%, Canada same as Argentina in the 90% whereas we are at 45% so far..The funny thing with Argentina:
People giving Argentinians lessons on economy, as their debt reached 90% of the GDP..ohhh the bad boys..girls...
Remain me what is the official so biased debt to. GDP ration for the USA, France just to name some countries I know the answers for.
The newly elected president will face a hard backlash from the IMF and wef swamps I am sure.
Good luck on him and for the country!
OMG I must brush up on my Spanish! Even with subtitles, this is amazing
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