CNBC: Argentina devalues its currency, jacks up interest rates after shock far-right primary win
* The moves were a bid by the government to calm markets in the wake of the Argentinian congressman’s surprise victory.
* Argentinian stocks and its sovereign dollar bonds were also lower Monday.
Argentina’s central bank devalued its currency, the peso, by close to 18% and hiked its benchmark interest rate by a whopping 21 percentage points to 118% on Monday following a shock primary election win by far-right libertarian Javier Milei.
The moves were a bid by the government to calm markets in the wake of the Argentinian congressman’s surprise victory, which gave him the largest share of votes in the country’s presidential primary election at roughly 30%, far exceeding forecasts.
Markets had been betting on favorable results for moderate candidates. Argentina’s presidential election will be held in October.
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WNU Editor: After decades of political and economic chaos are the voters in Argentina looking for a radical change? We shall see.
More News On The Primary Win Of Libertarian Candidate Javier Milei.
Argentine peso plunges after rightist who admires Trump comes first in primary vote -- AP
Argentina devalues peso, raises rates after shock primary vote -- Reuters
Far-Right Libertarian Wins Argentina's Presidential Primary -- New York Times
Argentina's Javier Milei copies Trump's playbook to become country's biggest primary election vote-getter -- FOX News
Financial markets react to shock of far-right candidate's win in Argentina -- UPI
Far-right Javier Milei wins most votes in Argentina’s primary election -- Al Jazeera
4 comments:
I am from Argentina, this guy is good with good ideas but the burócratas and career politicians will do what ever it takes to stop him.
Everything off- center and the media shouts FAR right.
Obvious bias in the media and when REAL far right people rise to the power, then no one listens anymore. Dumb media all around, doing a disservice to the entire global population.. constantly misinforming us.. lying to each and everyone one of us about what the others want. In short, they, the main stream media and their financial enablers pit us against another. To me personally this is one of the biggest crimes in modern history and causes trillions of damages.. see vaccines, see wars, see unrest and political turmoil.
Sounds exactly like the US. Except here we have a bunch of useful idiot leftists and uncle tom democrat plantation field hands who think they are oppressed and creating their own histrionic larping struggle sessions to virtue signal because victimhood has massive currency here now; Less so merit and hard work these days. This country is so rich and fat, that it allows people with most if not all the basic necessities to complain, envy and hate anyone a couple steps ahead of them and therefor warranting a revolution and destruction of our system. Youll notice that most of these idiots have no real skills and do little to nothing to acquire any, while the demcorat party keeps dangling a hot dog over their fat entitled faces while telling them how oppressed they are and that one more vote for them will change things. If you are in a "bad spot" and not working 80 hours a week while putting another 10+ to acquire a skill set and havent found your way out within 2-3 years, then you should stay a cashier at Kroeger for 25 years. But morre democrat policy like minimum wage is killing all of those kinds of jobs so the solution for them is a universal basic income. Democrats love their socialism and weaponizing everything from gender, viruses, natural disasters etc to child rape as a new and acceptable sexual orientation for adults. You cant share a country with these idiots.
Just to clarify. "Far Right" = ANYTHING to the right of Far Left.
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