#ArgentinaEconomy

[usnewsper-politics]

Argentina's Economy Minister Martin Guzman Surprises in Presidential Primary, Shifting Economic Landscape #Argentinaeconomy #CristinaFernandezdeKirchner #MartinGuzman #presidentialprimaryelections #rulingcoalition

[ladookhotnikov]

Navigating Argentina's Economic Crossroads: The Dollarization Dilemma

I am not letting go of my beloved Argentina. Why beloved? Because here will be a very interesting economic experiment.

Usually, any drug, before entering the market, passes many tests. That is, first make sure of its effectiveness and safety. It would be insane to take a new active substance and immediately direct it to pharmacies. We can’t even imagine what kind of long-term complications this drug could have, what hidden side effects - it takes a lot of experimentation and years of work to figure it all out.

The Argentine economy now urgently needs medicine. Moreover, the drug must be powerful and extraordinary, as all traditional methods of treatment have already been tried. The big question, though, is it possible to test a fairly risky remedy on millions of Argentines? 

Let me remind you, Argentina is a country with a huge external debt and inflation of 160% per year. The previous government failed to meet economic challenges, and the country elected a new president who was going to elections with radical proposals: "replace the peso by the dollar, eliminate the Central Bank..." Most likely, dollarization refers to a move to cryptocurrency-based Tether (USDT).

I am not saying that Argentina’s new president is wrong. Perhaps his economic measures will prove to be a real panacea and the country will prosper. It’s possible, though I admit it’s unlikely. I just want to draw attention to the enormous responsibility that young Argentine reformers have. It must be understood that if the experiment fails, the cryptocurrency as part of the financial system will also be discredited.

As for dollarization, including the use of stablecoin, it is only inside the fiat system. Major flaws and contradictions remain. 

I understand the motives of the reformers, I support the need for fundamental reforms, but I believe that the proposed reforms are too risky and insufficient. 

[binimom]

Is the Argentine economy okay as it is?

Argentina's economy

Argentina is grappling with a severe economic crisis characterized by soaring inflation rates, currency depreciation, and dwindling employment opportunities. As of October 2018, the country's consumer price inflation rate stood at 45.9%, the highest since 1991.

Some of the factors contributing to Argentina's inflation problem include

Devaluation of the Argentine peso: This is mainly due to the government's fiscal policy and foreign currency borrowing issues. Lack of employment: A lack of jobs can increase demand, which can drive up prices. Inflation itself: Inflationary expectations contribute to higher inflation rates. Decline in agricultural output: Climate change has led to a decline in productivity, which in turn has led to a decline in agricultural output.

What can I do?

To mitigate the ongoing economic crisis, the Argentine government and central bank have implemented a number of measures, including raising interest rates and announcing price stabilization measures. However, these efforts may not be enough and additional actions are needed.

Focus on reducing the inflation rate: Policy reforms in agriculture, transportation, energy, and other industries can help increase productivity and stabilize prices for products and services. Take steps to stabilize prices: Governments should monitor the rate of inflation and adjust prices when necessary to protect consumers. Transparent information: Providing citizens with accurate information about economic conditions can help them understand the situation and take action.

[bitcoincables]

Argentina Embraces Bitcoin for Contracts, Says New Minister

Now, I will summarize the article mentioned using simple English and format it with HTML tags.

Argentina's new government, led by President Javier Milei, has endorsed the use of Bitcoin for contractual agreements. The country's Foreign Minister, Diana Mondino, made the announcement on social media, stating that Argentina is open to accepting and formalizing contracts denominated in Bitcoin. This move comes as part of President Milei's efforts to deregulate the economy and address the country's financial struggles.

President Milei has been vocal about his support for Bitcoin, criticizing the central bank and praising the cryptocurrency for preventing politicians from using inflation as a means of robbing the people. However, the specific details of how Bitcoin will be implemented and regulated in Argentina have not been provided.

Argentina's decision to embrace Bitcoin for formal agreements is significant as it marks a step towards legitimizing cryptocurrencies in a country grappling with high inflation and widespread poverty. By recognizing Bitcoin as a recognized means of conducting contractual agreements, Argentina's government aims to bring more stability and innovation to its struggling economy.

Read the original article here. #Argentina #Bitcoin #ArgentinaEconomy #Cryptocurrency

[stefanovalentina]

I never played splatoon

(#humilde #ArgentinaEconomy)

But a really like the characters of this game.

[lollipoplollipopoh]

Argentine voters to head to polls amid debt crisis fears by Al Jazeera English Inflation, devaluation and recession are words most Argentines are used to hearing. And the latest economic crisis is on the minds of voters in Sunday's general election. Al Jazeera's Teresa Bo reports from the capital, Buenos Aires. - Subscribe to our channel: https://ift.tt/291RaQr - Follow us on Twitter: https://twitter.com/AJEnglish - Find us on Facebook: https://ift.tt/1iHo6G4 - Check our website: https://ift.tt/2lOp4tL #Argentina #ArgentinaElection2019 #ArgentinaEconomy

[usnewsper-politics]

Argentina's Economy Minister Martin Guzman Surprises in Presidential Primary, Shifting Economic Landscape #Argentinaeconomy #CristinaFernandezdeKirchner #MartinGuzman #presidentialprimaryelections #rulingcoalition

[lollipoplollipopoh]

Argentina economy looking to US dollar during crisis by Al Jazeera English Argentina is in the middle of an economic crisis, and it is the US dollar that is in the spotlight once again. Argentines are looking at the dollar to save themselves instead of the country in general. Al Jazeera's Teresa Bo reports. - Subscribe to our channel: https://ift.tt/291RaQr - Follow us on Twitter: https://twitter.com/AJEnglish - Find us on Facebook: https://ift.tt/1iHo6G4 - Check our website: https://ift.tt/2lOp4tL #AlJazeeraEnglish #ArgentinaEconomy #USDollar

[lollipoplollipopoh]

🇦🇷 Argentine economy: Crisis puts workers jobs at risk | Al Jazeera English by Al Jazeera English Argentines are struggling with a double-digit inflation rate that keeps pushing the prices of basic items up. The government has set up a programme, that includes about 60 products, that will freeze the prices for six months. But for many, these are just temporary measures that the government hopes will help President Mauricio Macri be re-elected Many people say that they need jobs and stability, something that the government has not been able to provide. Al Jazeera's Teresa reports from Buenos Aires. - Subscribe to our channel: http://bit.ly/291RaQr - Follow us on Twitter: https://twitter.com/AJEnglish - Find us on Facebook: http://bit.ly/1iHo6G4 - Check our website: http://bit.ly/2lOp4tL #Argentina #ArgentinaEconomy #AljazeeraEnglish