How Argentina brought its economy back from the brink
Inflation is surging ahead at 115% annually. Interest rates are gyrating wildly. The value of the national currency is constantly falling. Many plants are operating at only 33% of capacity.
In most countries, such dire economic indicators would be regarded as signs of ruin. Not in Argentina. The reason is that only a few years ago, the situation was far worse—so catastrophic that today's troubles seem mild by comparison. At that time, inflation for a short while peaked at the mind-boggling rate of 17,000%. When money...
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