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1) Even before #Argentina suffers the effects of contractionary monetary (40% interest rate) and fiscal (#IMF austerity) policies, its economy is reeling from bad weather. In April, the drought caused economic activity to decline “precipitously,” @jpmorgan writes in a new report.
2) In all, the drought cost #Argentina 38% of its soybean harvest and now, reductions in the government’s infrastructure spending risk spreading the pain to other sectors.
3) To learn more about the drought’s impact in #Argentina, read our interview in today’s #WeeklyAsado, which notes another obstacle Argentine farmers face: “A major increase in production would require improved access to foreign markets.” Subscribe here, https://engage.wilsoncenter.org/onlineactions/YQcpNdU-sU-dusDkAOYDtw2 ….
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