In a commentary earlier this month, Joseph Stiglitz, a Nobel laureate in economics, described Argentina’s recovery last year as a “COVID miracle.”
However, the country might be heading for another economic disaster.
Consider Argentina’s recent economic history: When Argentine President Alberto Fernandez took office in December 2019, he inherited a two-year recession and soaring inflation of 53.8 percent from his predecessor, Mauricio Macri.
The COVID-19 pandemic then deepened the Macri recession, and real (inflation-adjusted) GDP fell by 9.9 percent in 2020.
While Argentina’s vast natural resources helped its recovery as the pandemic shifted global demand from services to physical goods, even
Even as an exodus of Hong Kong ’s expat community continues, driven in part by the harsh Covid-19 quarantine rules and also political concerns, French national Marc says he is staying put. The 21-day isolation period which he served in January after returning from France was a “burden”, he said, but Hong Kong remained attractive. He moved to the city.