#Argentina’s recession has failed to slay inflation, but it’s doing its job tackling the trade balance, up to a $1.1 billion surplus in June, thanks to a 28% year-over-year drop in imports in Q2.
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Obviously, an exports-fueled adjustment would be far preferable. Instead, @BancoCentral_AR is relying upon a collapse in consumer spending and in demand from factories for foreign-made intermediate goods.
