How Far Is Argentina’s Return To “Common Sense Economics”?

ARGENTINA - Report 02 Dec 2014 by Domingo Cavallo
Nearing the end of the third quarter of 2012 the Argentine economy is showing clear signs of stagnation, with 25% annual inflation; country risk more than twice that of crisis-suffering Spain; and a black market premium in the foreign exchange market of approximately 40%.This is taking place despite the fact that the country has been reducing its foreign debt. While most of the well macro-managed economies of Latin America are suffering from excessive capital inflows that are provoking an undesired nominal appreciation of the local currencies, in Argentina capital has been flying out at a r...

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