#Argentina’s interest rate shot up today to an astronomical 60%, from an already stiflingly high 40%, in a new bid to defend the plummeting peso. https://n.pr/2MBfQlM
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The further steep peso depreciation will help solve #Argentina‘s current account problems, but it’s worrisome given the level of dollar-denominated debt, and it could lead to politically ruinous budget cuts, Itaú warns in a new report.
