10 January 2011

ARGENTINA: Central Bank Incompetence And Inflation-Denial Spark Peso Shortage.

WSJ/ Matt Moffett /

   Central Bank President Mercedes Marco del Pont is under attack for being unprepared for the huge seasonal demand for cash, as severe shortages occur at many ATMs.
   Pissed off citizens also say President Kirchner has blatantly ignored an unofficial 25 % annual inflation rate and only added to the shortage problems by refusing to print notes larger than 100 pesos.               
    Currently, 4 pesos equals about $1 USD.