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ARG peso collapse makes things worse for Macri, as peso stability supposed to arrest political costs of his IMF-supported austerity.
important to recall that Argentina program among IMF's toughest austerity (fiscal consolidation) ever. As I said last year, difficult to see how Macri can hold onto power while inflicting such high social costs pagina12.com.ar/133021-un-bald…
perhaps @Lagarde regrets not walking the talk on capital controls for Macri. Argentina will have no choice now but to impose them anyways.
Voices in Argentina calling on Macri to make an immediate public statement to restore confidence in peso
If Macri does nothing, he is de facto fuelling a run on ARG #peso for (doubtful) political gain, taking a leaf from right wingers' politics of fear
in press conference, Macri blames voters and winner Alberto Fernandez for the fall of the peso. Outraged Argentinians are pointing out he is still in government #MacriHaceteCargo
