Economics in Argentina

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The title of the article from the Christian Science Monitor is Even amid

economic woes, Argentines live it up. The summary of the article fits the title; the

article discusses the current economic crisis in Argentina and how the citizens are

dealing with it. Most of the Argentines are now afraid of investing their money into

Online writing services offer help on Economics in Argentina

banks in Argentina because they are afraid that they will not be able to get it back

entirely, or the bank will pose limits onto withdrawals so that the people will not be

able to withdraw all of their money. The article estimates that 0-0 billion dollars

is hidden inside the country in items such as shoe boxes and safes.

The country currently faces a 15 percent unemployment rate, a lack of food

causing malnutrition, and currency devaluation. The past problems within Argentina

has helped the citizens to manage through hard times. The article speaks of the

military dictatorship in the 70s, hyperinflation, and economic stagnation in the

0s, which has caused the Argentines to be happy through it, no matter how bad

the times are.

The Argentines are living it up by spending their money on leisure items

instead of investing it into the bank. Many clubs and ranches that are close to the

homes of the citizens are making very good money because the people can not

afford to travel to past favorite destinations such as South Beach and Disney

World; so instead they are going to clubs and local getaways that they can afford.

Elections will be held soon with three candidates for president, but none

seem to favor the new candidates. None have over a 1% approval rate. The

citizens disapproval with government officials can be contributed to the hard past

and the jumpy economy. The Argentines enjoyed a 11 rate of the dollar to the

peso, but now face a 1 rate, which helped the current hard times of the economy.

In class we have discussed the hard economy that the Argentines face,

due to the military dictatorship. We discussed how military intervention has

provided for an unstable democracy, which has led to an unstable economy.

Massive loans have been given to Argentina, which the country is having a hard

time paying back, and the restriction of the country being allowed to reprint money

for a brief period. Also we discussed the unstable elections, which has helped the

citizens to not trust the governments and banks.

Argentina is very unstable and needs to reassure their people of a stable

democracy and the value of investing. The 0-0 billion dollars that the citizens

could invest into banks, could be used to help the economy balance itself and

provide a better economic standard for the people. A true democracy needs to

be better established.

www.csmonitor.com

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