(Bloomberg) Investors in Argentina’s beleaguered financial markets are taking a stoic approach as the nation chooses its next president, bracing for more losses no matter the outcome. Most Read from BloombergOpenAI Board Urged by Microsoft, Investors to Restore AltmanAltman Sought Billions For Chip Venture Before OpenAI OusterSpaceX Starship Explodes Though Craft Reached New MilestonesOpenAI Negotiations to Reinstate Altman Snag Over Board RoleSilicon Valley Boardroom Coup Leads to Ouster of
After years of trying to avoid a currency devaluation that would add to soaring inflation and reduce its popularity with voters, Argentina hit panic button.
(Bloomberg) Argentina’s government finally hit the panic button.Most Read from BloombergRussia Calls Emergency Key Rate Meeting as Ruble PlungesOutsider Milei Upends Argentina’s Election With Primary WinBig Tech Takes the Lead in Thin Trading Session: Markets WrapChina Finance Giant’s Missed Payments Alarm Regulators, MarketsZuckerberg Says ‘Time to Move On’ From Musk Cage FightAfter years of trying to avoid a currency devaluation that would add to soaring inflation and reduce its popularity
The decision was an admission by Alberto Fernandez’s administration that it had run out of options, and money, to defend an unsustainable exchange rate.
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