On October 22, Argentina will hold presidential elections, with the winner taking office on December 10. He or she will be confronted with a dire economic situation.
What will they be working with? Argentina’s annual inflation is running at 140% and accelerating, while the gap between the ‘official’ exchange rate and those that escape government control exceeds 150% (Argentina has 20 different exchange rates). Meanwhile, the central bank has hardly any freely usable reserves left.
