Sergio Massa is the only thing standing between Argentina and chaos
An economy minister wrestles with inflation nearing 100%
Walk down Calle Lavalle or Calle Florida in the centre of Buenos Aires and every 20 metres someone will call out “cambio” (exchange), offering to buy dollars at a rate that is roughly double the official one. In supermarkets prices rise every month. Inflation this year is heading for 100%. As it has been several times in the past 50 years Argentina is once again lost in an economic labyrinth mainly of its own making. The distortions have reached danger point. “If this carries on, we’ll see looting of supermarkets again,” says a taxi driver.
This article appeared in the The Americas section of the print edition under the headline “Argentina in its labyrinth”
From the October 15th 2022 edition
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