If you saw Argentine President Cristina Fernández de Kirchner’s Cadena Nacional, her state of the nation address, you’re likely wondering what the hell that was.
You know that soul-shattering moment when reality hits? That’s what I felt when it was announced that Cristina Fernandez de Kirchner was to meet with George Soros.
Bond markets are abuzz about Argentina’s deal with the Paris Club of creditors on US$9.7 billion of arrears from the 2001 financial crisis. Economy minister Kicillof emerged, in his mind and that of many, victorious. Brilliant diplomatic showmanship.
By Bianca Fernet: “Head in hands” photos or “plunging value” graphs that are traditionally displayed when markets fall were selected to accompany news that Argentine warrants tied to GDP crashed when the government revised 2013 GDP growth down to 3%.
Paul Krugman, undisputed celebrity of the scintillating world of economics, shocked with an article accusing Argentina of “macroeconomic populism” – for following the very policies he’d advocated for years, now that there’s an economic meltdown.
