March 19, 2024
Trading Partner: Argentina - On the Edge of Crisis

Photo: David Fernandez/EFE

Protests against Chevron at the offices of national oil company YPF in Buenos Aires

International Trade

Trading Partner: Argentina - On the Edge of Crisis

| 9/11/2013

The South American nation's economy continues to crumble, leaving foreign companies nervous about doing business there and sending capital fleeing. Leftist President Cristina Fernandez de Kirchner has nationalized companies in industries from oil to transportation, instituted price controls on hundreds of consumer products and banned Argentines from buying dollars. The country’s official inflation rate has been above 10% all year, but many economists, including those at MIT’s Sloan School of Management, estimate the true figure is more like 25%. Cut off from international capital markets for more than a decade, Argentina can only pay its debts with currency reserves, which are diminishing as individuals and companies move money out of the country, says Jerry Haar, a professor of management and international business at Florida International University.

Tags: International Trade, International

Florida Business News

Florida News Releases

Florida Trend Video Pick

Incoming income tax instructor indicated
Incoming income tax instructor indicated

Affordable housing remains an issue; Income tax guidance on its way; What's in the 2024 budget; A mysterious threat to endangered sea life; Bass Pro Shops founder's "Florida Dream"

 

Video Picks | Viewpoints@FloridaTrend

Ballot Box

Should Congress ban the popular social media app TikTok in the U.S.?

  • Yes
  • No
  • Need more details
  • What is TikTok?
  • Other (Comment below)

See Results

Florida Trend Media Company
490 1st Ave S
St Petersburg, FL 33701
727.821.5800

© Copyright 2024 Trend Magazines Inc. All rights reserved.