Argentina: Chronicle of a default foretold, continued
By Fausta's Blog on January 31, 2014
As Latin America’s Leaders Hail Democracy In Havana, Cuba’s Beatings Intensify, but rather than try some networking at Davos, Cristina visited with what’s left of Fidel, while Argentina Loses $1.25 Billion of Foreign-Currency Reserves Kirchner’s Government Tries to Head Off Recession Argentina’s central bank has shed $1.25 billion of its dwindling foreign-currency reserves since it devalued the peso last week, even as the currency came under renewed pressure on Thursday. … he devaluation has so far failed to achieve what is believed to be its main goal: to close the confidence-busting gap between the official and black-market rates. The gap has narrowed in recent weeks. . . .