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Pandemic accelerates Argentina’s economic crisis

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By | [email protected] | March 20, 2020 6:26pm


[The Essential has dropped its paywall and is making all coverage of the novel coronavirus open and free for all readers]

Argentina was already in an economic crisis whose depth was hard to fully grasp without comparing it to the worst in the country’s history. The COVID-19 pandemic has now added an exogenous shock to a mix that previously included a collapsing currency, fragile state finances, an ice-cold private sector and large amounts of distressed debt.

War analogies are becoming the norm, and Argentine economists are no exception to the trend, with talk of a “war economy” increasingly common across the spectrum.

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