by Chris Marcus
Argentina appears to be on the verge of a currency crisis yet again. And what’s interesting is how if you consider the factors that have led to that outcome, it’s amazing how all of them also exist in regards to the U.S. dollar.
Recently The Wall Street Journal reported that Argentina has “turned to the International Monetary Fund for financial backing to help stem the peso’s depreciation and rising discontent over high inflation and reduced government spending.”
“It is not good for the future of Argentina,” said Guillermo Nielsen, a former Argentine finance minister who led the country’s debt restructuring with the IMF at the turn of the century. “Argentina went back into heavy indebtedness under Mr. Macri” and now debt-servicing payments will rise, he added.