Recently-announced measures by Argentina’s government are merely stopgap solutions and appear to be aimed at staving off a disorderly devaluation ahead of upcoming elections rather than stabilising the economy. Ultimately, the way out of the current problems will require tight fiscal and monetary policy as well as a large fall in the peso. Encouragingly, most presidential candidates have vowed to address these issues, but Argentina’s recent history shows that it’s much harder to walk the walk.
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