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A political crisis in inflation-ravaged Argentina that was sparked by the economy minister’s resignation has spooked markets and generated fears resulting in panic buying and hasty price hikes, as the informal exchange rate soars.
“Every day it’s like going out to hunt a lion,” Luis Sacco told reporters in front of his electronics store in the capital, Buenos Aires.
Since Monday, prices have risen dramatically at shops and businesses across the country.
On Saturday last week, economy minister Martin Guzman resigned following months of pressure from inside Argentine President Alberto Fernandez’s center-left Frente de Todos (Everyone’s Front) governing coalition.
Guzman was the chief negotiator
A political crisis in inflation-ravaged Argentina that was sparked by the economy minister's resignation has spooked markets and generated fears resulting in panic buying and hasty price hikes, as the…
Economic turmoil has provoked a wave of fear, triggering a surge in the value of the dollar on Argentina's parallel exchange markets and a sharp rise in prices.