Ex-BCRA governor: Argentina was not ready for volatility
But tax exemption on exports and US support have bought Milei time until October poll, says Redrado
Argentina’s authorities were insufficiently prepared for the market volatility that ensued last week, but emergency measures and US financial support have helped them weather the storm, the former governor of the central bank has said.
The country experienced repeated shocks last week as the peso tanked, requiring the Central Bank of Argentina (BCRA) to burn through more than $1 billion of foreign reserves to prop up the currency.
“Market perception was that the central bank didn’t have enough
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