Etiqueta: Russia

In few days, “Cambiemos” Front´s government wasted much of the whole political capital accumulated since December 2015 when Mauricio Macri won the presidential election in second round and especially October 2017, in occasion of his victory in parliamentary ballots. Last weeks, from the end of April and during the beginning of this current May, lots of capitals escaped from our country, provoking an abrupt devaluation of peso,  from 20 pesos = 1 dollar to more than 25 pesos = 1 dollar. Inflation, the second in the world, behind Venezuela, has hit 25 per cent, when the initial targeting rates were 15 per cent for this year. This financial situation, in a country with chronic inflation of two digits and three hyperinflations during more than seven decades, complicates once again the macroeconomic context and surely, the political arena. If last November Macri appeared with great possibilities to be re-elected in October  2019, these chances now, seem distant due to the growing generalized criticism and deception, because of expectations of higher inflation and recession. In Argentina, every government, peronist or non peronist, which does not control inflation, is condenmed to lost the next election.

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