DECODING ARGENTINA'S CRISIS

Decoding Argentina's Crisis: Economic activity in Argentina collapsed during the fateful year of 2020. Official data shows a contraction of 10%, the most serious on the continent, together with that of Peru, if the Venezuelan catastrophe is left out. In 2002, when Argentina collapsed, the drop was only slightly higher: 10.9%. Inflation is very high (38.5% in the last twelve months and rising), the currency continues to devalue, the reserves of the central bank do not reach 3,000 million dollars, and four out of ten Argentines live in poverty. The macroeconomic picture is very alarming.