Argentines will on Sunday move a step closer to deciding who will run the $600 billion economy engulfed by a deep crisis that involves runaway inflation, a...
NEW YORK - Argentines will on Sunday move a step closer to deciding who will run the $600 billion economy engulfed by a deep crisis that involves runaway inflation, a dearth of U.S. dollar reserves and an electorate with little trust in its currency.
"The next government will face substantial execution challenges in a context of accelerating inflation lack of meaningful FX reserves," said Alejandro di Bernardo, investment manager for fixed income – EM debt at Jupiter Asset Management. Argentina's monetary base is just over $20 billion at the official exchange rate of 350, but drops to $8 billion at the black market rate. Excluding a currency swap line with China announced on Wednesday, forex reserves are negative.
"The reality is sobering in the sense that Argentina has just too much debt," said Zulfi Ali, portfolio manager with a focus on Latin America for PGIM. "Debt does not need to be an immediate priority," said Khan, who doesn't expect dollarization to top the near-term list either. The former MI6 agent Christopher Steele had a friendship with Ivanka Trump that enraged her father when he found out, Steele said in court Tuesday.New York Times reporter Maggie Haberman told CNN’s Dana Bash on Thursday that Trump insiders don't know what to make of the agreement.Discover a world of exciting games, from heart-pumping action to brain-teasing puzzles. Get the latest versions of the top games in 2023.
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