I recently blogged about Argentina’s near century long record of appalling economic management.
A nation, once believed to be destined to become the richest in the world, has instead been a non-stop disaster.
The Financial Times report that the Argentinian central bank is about to lift interest rates to 91%, given the current inflation rate is now over 100%.
Five months back the IMF, which has been supporting the economy for the past two years, provided another bailout of NZ $10Billion. This is money the IMF will never see again, and is bloody rough on the suppliers, notably American taxpayers.
We should be actively soliciting Argentinian skilled migrants and university graduates for theirs and our benefit.