October 13, 2013
An Argentina Without Fernandez?
Raul Gallegos, Bloomberg
The Associated Press
After almost six years of Cristinismo -- the nickname for all things related to the president and her policies -- Fernandez is at the center of almost all government decisions in a place with clear economic maladies. Her country is fighting a protracted battle with investors who own billions in unpaid Argentine debt. Costly fuel imports are unsustainable and have helped deplete foreign reserves at a rate of $1 billion a month this year, according to Bloomberg News. Moreover, a managed exchange rate that has lost ground this year has not prevented a deeper depreciation of the peso in the black market for the dollar. Independent estimates put annual inflation at 25 percent, compared with the government's figure of around 10 percent, which is widely considered to be manipulated.
TAGGED: Argentina, Cristina Fernandez De Kirchner