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Nairaland Forum / Nairaland / General / Politics / Foreign Affairs / Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% (25065 Views)
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Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by HonNL: 8:38pm On Aug 14, 2023 |
An admirer of former U.S. President Donald Trump, Milei says Argentina’s Central Bank should be abolished, thinks climate change is a lie, characterizes sex education as a ploy to destroy the family, believes the sale of human organs should be legal and wants to make it easier to own handguns Argentina’s central bank devalued its currency, the peso, by close to 18% and hiked its benchmark interest rate by a whopping 21 percentage points to 118% on Monday following a shock primary election win by far-right libertarian Javier Milei. https://www.cnbc.com/2023/08/14/javier-milei-argentina-devalues-its-currency-jacks-up-interest-rates.html?taid=64da5030b69a810001a1e387&utm_campaign=trueanthem&utm_medium=social&utm_source=twitter%7Cmain 4 Likes 3 Shares
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Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by Taylor90: 8:42pm On Aug 14, 2023 |
Ebola supporters will capitalize on this Argentina currency devaluation now Meanwhile Argentina own devaluation will favor them but Nigeria own don backfire FYI Argentina president is 64yrs while Ebola is 91yr No compare the two brains devaluating their currency 118 Likes 15 Shares |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by Nobody: 8:42pm On Aug 14, 2023 |
Devaluation of the currency doesn't help the economy of a country.Nigeria has been devaluing the Naira.Still,the economy has not improved. 63 Likes 6 Shares |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by Flangelo12: 8:46pm On Aug 14, 2023 |
Revolution2022: What helps? 98 Likes 4 Shares |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by gaby(m): 9:38pm On Aug 14, 2023 |
Abeg make una no allow BAT see this news oh 12 Likes 4 Shares |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by Mrchippychappy(m): 9:39pm On Aug 14, 2023 |
Una no dey ever find better examples? If not Somalia, na Sudan now na Argentina. Na wa oh. 18 Likes 1 Share |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by vacanci: 9:39pm On Aug 14, 2023 |
Imagine Leonel Messi entering Argentina with all his money right now. Omo, streets to bow 16 Likes |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by EDOSBROWN: 9:39pm On Aug 14, 2023 |
Agbadorians will like this news 9 Likes |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by nedekid: 9:40pm On Aug 14, 2023 |
I wonder the point or significance of this story, to console us or what? Metcheew. 5 Likes 2 Shares |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by inoki247: 9:40pm On Aug 14, 2023 |
Lol make Messi Pump him Salary to Argentina economy.... 7 Likes 2 Shares |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by JasonNOTStatham: 9:41pm On Aug 14, 2023 |
I hope some countries don't copy this style ![]() 2 Likes |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by MySexyMoni(f): 9:42pm On Aug 14, 2023 |
Whatsoever work's for them 2 Likes |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by grandstar(m): 9:42pm On Aug 14, 2023 |
Argentina is a perennial basket case. It should be an economic powerhouse but bad fiscal and monetary policies are the bane of its economy. It always spends above its revenue and lacks the backbone to cut spending. Cutting spending would mean slashing the bloated civil service, eliminating transportation and energy subsidies. These are untouchables, so things just go from bad to worse. On January 1 1992, the Argentine Peso was fixed at $1-1peso. Today, it is $1-350 peso Those who want the petrol subsidy to continue want the above to play out, This should be a warning. 6 Likes 3 Shares |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by sonnie10: 9:42pm On Aug 14, 2023 |
Mumu people want to start changing the narrative. The current nose dive of the Naira has nothing to do with intentional devaluation. What we are experiencing is a result clueless leadership and failed economic policies. We have a self acclaimed book keeper who has no idea what simple economics of supply and demand is. 12 Likes 2 Shares |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by JasonNOTStatham: 9:42pm On Aug 14, 2023 |
Before country ends up like Venezuela, abeg save the naira ![]() |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by Cardozzo(m): 9:42pm On Aug 14, 2023 |
Way to go Nigeria at least we have a partner in crime like Argentina |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by funsho75(m): 9:43pm On Aug 14, 2023 |
Politicians are the same everywhere 3 Likes |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by ACRI: 9:44pm On Aug 14, 2023 |
Inflation 142.4% wow 1 Like |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by Emekaonline: 9:44pm On Aug 14, 2023 |
Taylor90: And what will Pandora orangutan supporters like you capitalise on when any news that is against the government is published? 7 Likes 1 Share |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by Nobody: 9:45pm On Aug 14, 2023 |
Flangelo12: Ask APC. |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by anonymous1759(m): 9:45pm On Aug 14, 2023 |
Taylor90: Get a life you’re sounding too dumb and stvpid 11 Likes 3 Shares |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by Okoroawusa: 9:46pm On Aug 14, 2023 |
This guy is an American agent I hope Argentina doesn't go the way of Venezuela. The U.S. spoils any land it sets it eyes on....I call them "the scavengers". Look at Venezuela, Libya, Afghanistan, Iraq and more. 88 Likes 5 Shares |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by handsomeyinka(m): 9:48pm On Aug 14, 2023 |
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Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by Carickza0282: 9:49pm On Aug 14, 2023 |
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