Why 70% inflation is just one of Argentina’s problems
By Patrick Gillespie
Argentina is facing some of the world's highest inflation, with a rate that's back over 100% for the first time in three decades. The government is on its third economic minister since July and President Alberto Fernandez's leftist coalition looks permanently split. South America's second-largest economy has almost no access to international capital and is struggling to comply with the conditions attached to a $44 billion aid program agreed to with the International Monetary Fund. Any bright spots? So far, a population hardened by decades of economic crisis has not turned to the kind of violent street protests that brought down the insolvent government of Sri Lanka in 2022. But the most likely paths forward all involve significant levels of pain.
1. How serious is Argentina's crisis?
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