Inflation is the highest it has been in over fourteen years in Argentina. This is mainly due to subsidy cuts made by Mauricio Macri. He ran on the promise to tame inflation, and here he is just a few months after his election with 19.2% inflation from one quarter!
Argentine civilians are not happy and there have been a series of violent riots in Buenos Aires in the last couple of days. Macri continues to cut subsidies and state jobs in a "Hail Mary" attempt to get ahead of inflation. He may finally be doing what is necessary, or he may be crippling an already broken economy. Only time can tell. Compared to Argentina's economic problems the "Great Recession" was a time of great prosperity and progress. http://abcnews.go.com/International/wireStory/argentinas-capital-reports-highest-inflation-14-years-39076760 Comments are closed.
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