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Argentina’s time bomb: Massa will leave an economy in recession, record indebtedness, and an exchange rate gap close to 100%

The program launched by Sergio Massa in August 2022 was limited to three main issues: tightening price controls, raising nominal interest rates, and accelerating the pace of indebtedness of both the National Treasury and the Central Bank (BCRA).

None of the three factors stabilized the macroeconomy, but the consequences are being felt.

The BCRA's interest-bearing liabilities reached the outlandish sum of $10.6 trillion, equivalent to 200% of the monetary base and close . . .

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