The Ministry of Finance, Buenos Aires. Wikimedia Commons.
A few months back, in an article published in democraciaAbierta, we gave an account of the current Argentine crisis, highlighting the excessive vulnerability the economy was being exposed to as a result of the impact of the financial opening carried out by President Macri.
Three aspects in particular threatened the country's future prospects: a strong exchange deregulation policy that failed to stop the flight of capital, a boom in foreign debt (at record level among emerging countries) and the promotion of speculative capital inflows to carry trade (buying a title issued by the Central Bank called LEBAC).
