The endless agony of Argentina

Yesterday there was a run on the dollar in Buenos Aires and the peso lost 15% of its worth. To stop the avalanche, the Central Bank offered 60% interest on Peso deposits. This is the second time this year, with the difference that this one comes after the generous support agreement with the IMF International Monetary Fund. Dujovne, the Finance Minister, travelled urgently to Washington to renegotiate the agreement and ask for more funds.

How this affects common people? Food suppliers have stopped deliveries to supermarkets because of the uncertainty of prices, cars are left without gas till the government announces the new price, all the unions are demanding salary raise, panic seizes the population that lives from payday to payday.

President Macri stands for re-elections in October 27, 2019. If he fails to stabilize the country's finances, the Peronists (see Cristina Fernandez de Kirchner pic) will replace him. Then the revenge of the Kirchner gang, that is being investigated and jailed these days (for organized sacking of the State), will be fast and furious.

In 1807 the British sent a fleet to incorporate Argentina, then called the Provincias Unidas del Sur, into their Empire. That was the last opportunity for Argentina to become a civilized and progressive country like Australia, New Zealand, Canada. The natives resisted successfully. Pity.