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Argentina, The house of cards is beginning to sway.
31.7k sats \ 1 comment \ @LindaMcmillanZ3Q 12 Aug econ freebie

TLDR

  • Rumors of a 50% currency devaluation in Argentina
  • Exchange market closed Friday and next Monday
  • Central Bank ran out of dollars and started "using" local banks customer USD deposits
  • Argentina's government is focused on recalibrating the agreement with the IMF and strengthening foreign exchange payment systems.
  • Global Central Bank hiked rates by another 300 bps to 81%. Their YoY inflation rate is at 104%.

https://www.lanacion.com.ar/economia/economia-enfrenta-las-versiones-de-devaluacion-y-prepara-sus-proximos-pasos-nid21042023/

205.1k sats \ 0 replies \ @VeronicaRoachQH1 12 Aug freebie

Never purchased one nor do I plan to, but I agree with Udi that many people have been wasting oxygen complaining about the things when it's clear they've made no effort to actually understand them.

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