The Buenos Aires stock market falls 10% and aggravates the Argentine economic crisis
The Macri government again suffers a fall in the stock market as a result of the measures chosen for exchange control that at some point they said they would never use. However, due to the high rate of financial problems, they began again to take measures that the previous government used frequently.
The decline in the stock market stood at 13%, despite the fact that the day before it had increased by 6.45% and that it kept the government waiting for an ideal season for the economy. However, banks and energy companies decreased their value in Argentina by up to 17%.
After the Argentine currency depreciated 30%, the Macri government has sought to create "uncomfortable, but necessary measures" avoiding major problems and seeking not to increase poverty, as mentioned by the Minister of Finance.
From now on, only an Argentine will be allowed to buy 10,000 dollars, reducing the demand for this currency. In addition, they will not allow local companies to continue trading in dollars, which would cause them to change their money to Argentine pesos. This, seeking that the Central Bank can keep a greater amount of dollars in its coffers.
Argentina vive uno de sus peores años económicos de la década. El dólar ha aumentado exponencialmente y las últimas elecciones lo catapultaron hasta los 60 pesos argentinos por cada dólar. Durante...webmediums.com
The dollar has gradually recovered a more stable value. Economists believe that it will take weeks for the currency to return to the previous price, which was uncomfortable due to its increase in April 2018.
Now, classified as a country of economic risk due to the probability of non-payment, Argentina seeks to gain the confidence of foreign investors again to recover the economy. However, credit ratings do not help in this process and with the call of the Catholic Church to help those most in need, it only generates international mistrust.
No son buenos días económicos para el gobierno argentino. Con la puesta en marcha del plan de emergencia económico los mercados se calmaron en cuanto a su valor, pero los inversionistas continúan...webmediums.com
