Battered by record-high inflation and interest rates, Argentina has been suffering since early 2018. Upcoming elections add to the uncertainty.
An ailing economy…
The Argentine peso has depreciated to the extent that one US dollar is now over twice the price it was one year ago (see left chart below). In a deep recession since early 2018, the country’s economy shrank by 2.5 per cent in 2018, with expectations for 2019 now standing at -1 per cent at best.
Despite a slight improvement in March 2019, Pictet’s proprietary growth indicator has consistently been negative, leading the longer-term average into negative territory. READ MORE
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