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Argentina’s Central Bank debt exceeded 230% of the monetary base and is approaching the highest level in history

The quasi-fiscal deficit is growing at ever-accelerating rates, and it only takes five months to generate a new monetary base by issuance.

The Central Bank pays 0.8% of GDP monthly to maintain interest on interest-bearing debt.

The monetary imbalances of the Argentine economy have been the deepest since the first half of 1989.

The interest-bearing debt of the Central Bank (the position of Leliq and Pases) concentrates the equivalent of 230% of the monetary base circulating in the economy.

In other words, more than two monetary bases are virtually "trapped" in the remunerated instruments of . . .

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