(Image Source - http://www.uncorkingargentina.com/blog/tag/travel-argentina/)
Argentines are back in the crisis mode with Argentinian Peso continuing to falter over the last few weeks. The question that is being asked again and again is – what is the Argentinian Central Bank planning to do to counter this slide?
President Cristina Fernández has not been accessible to the public and press and has done just one public meeting in the last six weeks. This has signaled a global concern over the fragility of developing economies similar to Argentina.
The Peso has plunged 15% on January 22dn and 23rd
of 2014, slipping from 6.9 pesos per dollar to 8 pesos per dollar. Roughly it
has lost about 19% in just January. It’s still to be seen if President Cristina
does anything to stop the Peso from continuing to plunge.
(This blog was written as part of the McCombs MBA Global Trip NEWS Round-up effort)
- By Jayanth Rangaraju
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