Money Printer Goes Quiet and Argentine Government Gets Squeezed
Ignacio Olivera Doll, 28 April 2021
The Argentine central bank’s fight against inflation is upending the local bond market and squeezing government finances as the country struggles to regain traction while the pandemic rages on.
Long known as some of the world’s most prolific money printers, Argentine policy makers are cutting back on the largesse in an effort to curb inflation running at more than 40% a year. While the move toward orthodoxy has often been urged by economists, the timing is difficult. Slower expansion of the money supply over the past six months has cut liquidity and sapped demand for debt, pushing up interest rates and making it harder for the government to fund itself given its lack of access to overseas markets. Continue reading “Article: Money Printer Goes Quiet and Argentine Government Gets Squeezed”
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