February 18, 2020
Latest News

Financial crisis disturbs Argentina

The Latin American country of Argentina has fallen under the clutches of a severe financial crisis. It has recently imposed severe restrictions on its currency to stabilise its economy in its weakest time. The currency controls make the sale of pesos to buy foreign currency almost impossible. The Argentinean firms will have to seek the permission of the country’s reserve bank to buy foreign currency with pesos and to transfer funds from the country to abroad.

Argentina’s is not an individual case. The situation is almost similar in many other countries in that part of the world.

It seems that the world is moving towards a severe economic crisis. Even the United States is going through a difficult time in terms of its economy.

A serious study should be conducted to ascertain the reason for the present economic state of the world.

There is a serious allegation that it is the negative attitude of certain countries which disturb the International trade.

In the recent past, several countries including the US have adopted a protectionist attitude. That attitude has sparked several indirect trade wars across the world. The most prominent of that is the trade war between the US and China.

Photo Courtesy: Google/ images are subject to copyright

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