Argentina Recession Alarming Bells Are Ringing For Argentina

 

Fears of a worldwide recession and rising inflation in Argentina raise investor concerns about probable defaults, failed IMF objectives, and political turmoil.

Soaring pressure on the peso and a hefty energy import bill prevent the South American nation, a prominent worldwide exporter of soybeans, maize, and wheat, from building essential dollar reserves.
Inflation in Argentina is expected to hit 70 per cent by the end of the year, putting the economy in danger. The interest rate has been raised to 52 per cent to prevent investors from selling peso assets.
One of the leading economists in Argentina, Vctor Beker, says that he fears that the government may be forced to restructure its debts since it is becoming more difficult to renew all maturities.

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