24 May 2012

ARGENTINA : B. Aires Heads For Deficit, Slow Growth; Blue Market Exchange Rate Hits New High.


    Argentina may end 2012 with a deficit...the first time since 2002.
    Experts project slow growth of 2.5-3.0%...after averaging 7.1% GDP from 2003-2011.
    But President Kirchner's government insists it will be in the 5.1% range.
    Economists say inflation will continue raging at the 25% annual rate...even as Kirchner's staff continues to argue it is much less.
    Under Kirchner...the nation is still regarded as an international financial pariah...and the recent takeover of energy giant Repsol's YPF subsidiary won't encourage new foreign capital.
       ALSO: The peso has hit a new black/blue market high vs the usd...at 6.15...36% above the official rate.