President-elect Javier Milei, a self-described “anarcho-capitalist,” has radical ideas to prop up the ailing economy, including the introduction of the US dollar. Will that work? Argentina’s new right-wing populist president-elect Javier Milei has never hidden his...
Argentina owes a fortune — $323 billion (€274 billion) as of the end of 2019 — which it cannot pay back. That has been the case for many years. It owes several billion to the...
The chase for yield in a central-bank manipulated low-interest-rate environment is very costly, as brain-dead buyers of Argentina’s dollar-denominated and euro-denominated bonds found out. These junk bonds were issued with great Wall-Street hype in 2016...
Investors, chasing better returns in US dollars, have forced the two countries’ currencies into free fall. The big question is whether the rout can threaten financial markets and the global economy medium-term. The words “taper...