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Submitted by Argentine resident on
The recent growth achieved by Argentina is almost wholly due to the fortuitous increase in the prices of key primary products over the last eight years, principally soy. I live in Argentina and what I see is a discredited official price index, inflation that is generally reckoned to be running at over 20%, a rapidly devaluing currency, and pointless and ineffective currency controls as the citizens desert the currency of an administration in which they do not have confidence. El dolar blue now trades some 25% higher than the official rate - to which citizens have no access without specific, individual permission. Private investment has shrunk and new foreign investment has all but disappeared. Informed opinion here is anticipating a major crisis in the not too distant future. Against that background, I find your including the recent Argentine experience as part of a model for success to be faintly hilarious, were it not for the hardship already being felt by Argentinians, which by all accounts, is set to intensify.