this may have enough info for you --- if you reference any articles, look up the link

here and find the original source, ie publication, date, author & title and put that in biblio & footnote more at bottom

TRY SEAR ! TER" ---- #costo de vida# en $uenos Aires COST OF LIVING - recent articles in Spanish about COST OF LIVING (in BA) http%&&'''(diariodemocracia(com&notas&)*+,&+&++&timido-intento-contra-inflacion-,+-.(asp T/mido intento contra la inflaci0n s1bado, ++ de enero de )*+, http%&&'''(infobae(com&)*+,&*+&+*&+234++)-las-subas-los-alimentos-dispararon-lainflacion-)*+3-habria-cerrado-cerca-del-)5 6as subas en los alimentos dispararon la inflaci0n en )*+3% habr/a cerrado cerca del )57 viernes +* de enero )*+,

Argentina: en vigor nuevo acuerdo de precios --- Publicado el lunes, 01.06.14

http%&&'''(elnuevoherald(com&)*+,&*+&*4&+42**43&argentina-en-vigor-nuevoacuerdo(html El 89 subi0 en $uenos Aires un *,.7 en noviembre http%&&'''(elsiglo'eb(com&nota&+3*3*,&el-ipc-subio-en-buenos-aires-un-*.-ennoviembre(html there 'ill be others COST OF LIVING - recent articles in En lish about COST OF LIVING (in BA) Argentina% :e' 9rice ontrols to ;ight <nflation $=E:>S A<RES, Argentina ?anuary -, )*+, @A9A http%&&abcne's(go(com&<nternational&'ireStory&argentina-price-controls-fight-inflation)+,,+*,) Argentine <nflation ?umped to )4(57, ;astest Since )*++ $y harlie BevereuC Bec +), )*+3 4%22 9" D"T

http%&&'''(bloomberg(com&ne's&)*+3-+)-+)&argentine-inflation-Eumped-to-)4-5fastest-since-)*++(html also - t'o ;T articles !hich are inclu"e" at the botto# here as you 'onFt be able to access them yourself Argentina% price freeGe herald start of political battle ?an 4, )*+, Argentina% Huestioning official inflation can land you in Eail Sep +3, )*+3 and more articles @if searching put in a time limit, eg last monthA COST OF LIVING - list o$ ite#s%e&pen"iture in En lish ' Spanish ost of living in $uenos Aires%El siguiente listado de costos estimados ha sido elaborado para servir de gu/a a los alumnos eCtranEeros Hue estudien en la iudad de $uenos Aires( A continuaci0n se detallan los costos m/nimos Hue un estudiante necesita tener en cuenta para un presupuesto mensual% http%&&'''(ucema(edu(ar&study-abroad-program&living-eCpenses also see http%&&eCposebuenosaires(com&cost-of-living-in-buenos-aires& ----------------------------also useful - but may not need them

(ECENT GENE(AL A(TICLES IN S)ANIS* ON A(GENTINE ECONO+, http%&&'''(infobae(com&)*+,&*+&*)&+23,,-.-el-analisis-tomas-bulat-la-economiaargentina-)*+, @videoA http%&&'''(lanacion(com(ar&+4,.--3-claves-para-recuperar-la-economia-argentina http%&&eleconomista(com(mC&economia-argentina I good source, many articles http%&&'''(iprofesional(com&notas&+-*2.2-9ara-analistas-el-ritmo-de-cada-de-lasreservas-internacionales-debilita-la-economa (EFE(ENCE GENE(AL A(TICLES IN S)ANIS* ON A(GENTINE ECONO+, http%&&es('ikipedia(org&'iki&Econom7 37ABaJdeJArgentina http%&&'''(bancomundial(org&es&country&argentina&overvie' (ECENT A(TICLES ON A(GENTINA IN ECONO+IST in ENGLIS* http%&&'''(economist(com&ne's&americas&)+2.3,)*-government-struggling-stay-itsfeet-holding-ringKGidI3*2&ahI,+-bd244,dc-4da2d.5af,f-a4,*fd5a The government is struggling to stay on its feet

?an ++th )*+, L $=E:>S A<RES L ;rom the print edition ArgentinaMs socioeconomic statistics @article copied belo'A Still lying after all these years >fficial figures paint a rosy picture( So 'hy are Argentines riotingK Bec )+st )*+3 This is interestin because it sho!s that the o-ern#ent "octors the in$lation $i ures. @and have been doing so for a long time - see http%&&'''(bbc(co(uk&ne's&'orld-latinamerica-+)5)),)4 A -------------------------------------------------@content of Economist article listed above -- not very importantA Economist article ArgentinaMs socioeconomic statistics Still l/in a$ter all these /ears >fficial figures paint a rosy picture( So 'hy are Argentines riotingK Bec )+st )*+3 L $=E:>S A<RES L ;rom the print edition ;>R years the <"; turned a blind eye as Argentina doctored its inflation indeC and plumped up its numbers for economic gro'th( Then last ;ebruary the fund steeled itself and censured the country, 'arning it to improve its statistics by September or face potential suspension or eCpulsion( This threat 'as unprecedented in the fundMs history( Yet it seems it 'as a largely empty one( >n Becember .th the <"; board met to revie' ArgentinaMs progress on a ne' inflation indeC( <t declared that, although the country had not adopted the measures the fund 'anted, it NrecognisedO the governmentMs Nongoing 'orkO and deferred further action until "arch( ertainly, those 'ho care about the integrity of statistics cheered the recent resignation of Duillermo "oreno, the secretary for interior commerce( "r "oreno 'as the man 'ho intervened at <:BE , the statistics institute, in )**-, after 'hich it began to fudge inflation data( "any officials no'adays take less care to pretend that inflation is around +*7 rather than the true figure of around double that( Some economists believe the ne' inflation indeC 'ill be an improvement( >thers doubt that the government has suddenly embraced numerical honesty( <:BE is likely to cherry pick items for 'hich the government has ordered price freeGes and leave out those 'hose prices rise, thinks ?uan 6uis $our of ;<E6, a think-tank in $uenos Aires( overing up the true rate of inflation has knock-on effects on other statistics( Take poverty( The government says only ,(-7 of the urban population is poor( >ddly, the =: Economic ommission for 6atin America and the aribbean has an even lo'er number, at ,(37( $ut the atholic =niversity of Argentina calculates that, going by the true cost of living, the correct figure is )-7(

Similarly, underestimating inflation has had the effect of bloating the official calculation of DB9 since )**- @see chartA( <n September the government raised eyebro's 'hen it reported suspiciously buoyant Huarterly gro'th figures( That 'as despite the <";Ms 'arning and the fact that the official numbers could trigger a multibillion-dollar payment to holders of DB9-linked bonds( The economy ministryMs forecast of 2(+7 gro'th in )*+3 eCceeds that of most private analysts by more than t'o percentage points( The problem of dodgy statistics goes much 'ider( ;or eCample, 'hile <:BE claims construction eCpanded by ,(-7 in the first ten months of )*+3, EconPie's, a consultancy 'hich makes its o'n calculations, puts this number at Eust *(27( <n )**5 and )**. private and official estimates of the eCpansion in industrial production varied by up to ten percentage points( Although the deviation has since decreased, private economists still prefer to rely on their o'n numbers( ;arm-'atchers 'ere confused 'hen their estimates for the )*+3 maiGe harvest of around )2(2m tonnes trailed that of the agriculture ministry by more than 4m tonnes( <t turned out the ministry had Huietly included maiGe retained by farmers to feed their livestock, contrary to its previous practice( Qhen it comes to official economic numbers, only those of the entral $ank still command some credibility( The official inability to face the truth eCtends to crime( The Eustice ministry stopped publishing annual crime statistics in )**.( <n its statistics the health ministry has reduced the murder count by t'o thirds by subtracting Ndeaths from outside aggression, of unkno'n intentO, of 'hich there 'ere 3,+), in )*++( The problem for 9resident ristina ;ern1ndeG is that her governmentMs statistical solipsism no longer 'ashes 'ith Argentines( This month a doGen provinces 'ere shaken by police strikes @settled 'ith 'age increases of over 3*7A and looting( Argentines kno' perfectly 'ell that inflation, poverty and crime bear little resemblance to the official statistics( ;rom the print edition% The Americas

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Ar entina0 price $ree1e heral" start o$ political battle ?an 4, )*+, .%3.pm by ?onathan Dilbert ,inShare3 *

The bibs are back% printed 'ith the slogan N'e monitor the pricesO and 'orn by young pro-government activists, the foot soldiers of ArgentinaMs losing battle against soaring inflation( After announcing the measure alongside its bibbed army of supporters, the government implemented a ne' set of price controls on "onday, a precursor to its annual 'ar 'ith union leaders over 'age rises( "aEor supermarket chains have agreed to a year-long freeGe @'ith 'iggle room for changes, should the government allo'A on +** items, among them cooking oil, meat, milk, vegetables and cleaning products( At first, the freeGes 'ill apply only to stores across the $uenos Aires conurbation, home to nearly +3m people struggling 'ith constant rises in food costs( The state statistics institute has long been under pressure from the <"; to clean up its data, 'ith criticism from many Huarters( A ne' consumer price indeC 'ill be released neCt month as the government takes steps to regain access to global financial markets( Even the most ardent supporters of ristina ;ern1ndeG, the president, laugh at the official inflation rate of +*(2 per cent( An alternative indeC, published by opposition politicians, puts the rate at more than )4 per cent( !ence the price pact, by no means the first of the ;ern1ndeG government( A freeGe on 2** products 'as put in place only last ?une, accompanied by activists marching do'n aisles and Nmonitoring prices to protect the peopleMs pocketsO, according to the print on their blue bibs( TheyMd been summoned by Duillermo "oreno, the brusHue former business secretary and price-control tsar( Augusto osta, 'ho assumed the role last month, seems little different from his predecessor( Qith government paranoia S often voiced by "oreno S over NmonopoliesO and Neconomic interestsO out to topple its political NmodelO, osta said the goal of the freeGes 'as to Nattack a problem that derives from the oligopolic structure of the marketO( ACel Ticillof, the ne' economy minister branded a "arCist by some, a neo-Teynesian by others, said they 'ere a method to Nprevent abuse in the commercialisation chain(O $ut the real reason 'ould seem to be the impending 'age bargaining season( 6ast month, ArgentinaMs interior became a la'less battleground bet'een looters and armed vigilantes as police 'ent on partial strikes to demand higher pay( 6ast ;ebruary, teachers delayed the start of the school year for millions of children in 'idespread strikes( :o', one influential union leader, 9ablo "icheli, has said he 'ill not budge belo' 3* per cent in negotiations( !e branded the price accords a NployO by the government and is threatening a national strike if he doesnMt get his 'ay( 6et the games begin( (elate" rea"in 0 Argentina & the <"; S friends again, one dayK beyondbrics Argentina trade secretaryMs resignation heralds policy shift, ;T The Tirchners% Doodbye to all thatK, ;T

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Ar entina0 2uestionin o$$icial in$lation can lan" /ou in 3ail

Sep +3, )*+3 +)%)4am by $enedict "ander .inShare* *

Duillermo "oreno is at it again( ArgentinaMs business community lives in perpetual fear of receiving a telephone call from the governmentMs notorious commerce secretary( $ut he reserves special treatment for economists( This time it is the turn of >rlando ;erreres to be investigated, after he had the temerity to publish an inflation indeC that differed drastically from the governmentMs 'idely-Huestioned figures @he thinks prices are rising more than t'ice as fastA( According to ;erreres, inflation is up )3(5 per cent in the last +) month, against <:BE Ms figure of +*(4 per cent for the same period( ;erreres could no' face a prison sentence of up to t'o years for S according to "oreno S publishing bogus figures 'hich 'ould trigger a rise or fall in Argentine debt, enabling his clients to eCecute timely trades and earn a tidy profit( 9erish the thought that ;erreres, one of the most respected economists in $uenos Aires, might simply believe his figures to be a more accurate reflection of reality than the numbers published by the state statistics agency, <:BE , 'hich have been badly discredited since )**-( Even pro-government politicians S including one high profile NkirchneristaO running for re-election in the key $uenos Aires province in mid-term legislative elections neCt month S are beginning to admit that something may be amiss at the <:BE ( $y ;ebruary this year, the <"; had got so fed up 'ith ArgentinaMs fla'ed official statistics that it took the unprecedented step of beginning formal censure proceedings, 'ith little head'ay made since the government invited the <"; in )*+* to help it design a ne' inflation indeC( <n the meantime, for more realistic figures people rely on the likes of ;erreres, for as long as they dare to publish them( !e is not the first to have attracted "orenoMs attention, and he is unlikely to be the last( (elate" rea"in 0 N< 'ant to go no'O% ArgentinaMs inflation response, beyondbrics $itcoins gain traction in Argentina, beyondbrics Argentina inflation% shoot the messenger, beyondbrics Argentina sues consultancy over inflation figures, ;T Argentina inflation file, beyondbrics
Tags% Argentina inflation 9osted in Argentina, 6atAm L 9ermalink ++++++
THIS IS THE BOTTOM

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MUCH MORE JUST SEARCH economist argentina economy

Argentine economy closing 20 ! in tro"#le$ %it& to"g& times looming 'or Cristina (ernan)e* +"#lis&e) ,ecem#er 2-$ 20 ! Associate) +ress

%%.'o/ne%s.com0%orl)020 !0 202-0argentine1economy1closing120 !1in1tro"#le1%it&1to"g&1 times1looming1'or1cristina0

BUE2OS AIRES$ Argentina +resi)ent Cristina (ernan)e* &as trie) to rein3ent &er image since &er ret"rn 'rom s4"ll s"rgery. S&e5s 6"t asi)e t&e all1#lac4 %ar)ro#e s&e %ore 'or t&ree years mo"rning &er late &"s#an) 2estor 7irc&ner$ an) res&"''le) &er Ca#inet. T&is %ee4$ &er economy minister anno"nce) a ne% stim"l"s 6rogram.

Analysts$ &o%e3er$ say %&at s&e really nee)s to )o$ an) 8"ic4ly$ is ta4e 6olitically 6ain'"l ste6s to contain in'lation #y )ialing #ac4 go3ernment s6en)ing.

Restoring Argentina5s sense o' 6ri)e an) so3ereignty a'ter its 200 economic colla6se &as #een t&e central goal o' t&e 7irc&ners5 93ictorio"s )eca)e9 in t&e 6resi)ency. T&ey renegotiate) or 6ai) o'' nearly all o' Argentina5s )e'a"lte) )e#t in %ays t&at remo3e) t&e s"6er3ision o' international len)ing organi*ations$ nationali*e) t&e 6ension system$ retoo4 control o' t&e national airline an) oil com6any$ an) )"g )ee6 into t&e treas"ry to re)irect re3en"e to t&e 6oor.

B"t t&e years o' : 6ercent gro%t& are o3er. (ernan)e* no% 9'aces a ra6i)ly )eteriorating economy t&at )eman)s 6ro'o"n) an) "rgent meas"res$ an) t&ere are no 6leasant alternati3es in sig&t$9 sai) Ignacio (i)an*a$ %&o )irects la6oliticaonline.com$ a %e#site 'oc"se) on Argentine 6olitics.

In'lation &as #een at least 2; 6ercent t&is year$ more t&an t%ice t&e %i)ely )iscre)ite) o''icial rate$ 6ri3ate economists say. T&is 'orces ro"n)s an) ro"n)s o' %age an) 6rice negotiations t&at scare o'' in3estors an) s6ar4 social "nrest$ li4e t&e 6ro3incial 6olice stri4es t&at set o'' looting across t&e co"ntry t&is mont&.

<o3ernors 6romise) 6ay raises t&at reac&e) nearly ;0 6ercent in some 6ro3inces to get o''icers #ac4 in t&e streets a'ter t&e mo# 3iolence 4ille) ! 6eo6le.

A -0 6ercent a3erage raise 'or 6olice %o"l) cost a#o"t =2.! #illion in 20 >$ #"t t&e o''icers re6resent ?"st - 6ercent o' Argentina5s 2 million 6ro3incial go3ernment em6loyees$ an) %it& at least 2@ 6ercent in'lation e/6ecte) in t&e coming year$ t&e rest %on5t #e satis'ie) %it& less. I' all 2 million get !0 6ercent raises on a3erage$ it %o"l) cost t&e e8"i3alent o' = 0 #illion in to)ay5s 6esos$ estimates ,iego <iacomini$ c&ie' economist %it& t&e Economia y Regiones cons"ltancy.

+rinting more 6esos isn5t a s"staina#le alternati3eA J+ Morgan estimates t&e 6eso %ill #e %ort& >- 6ercent less #y t&is time ne/t year.

Economists 'ig"re Argentina5s 6rimary 'iscal )e'icit$ #e'ore ma4ing )e#t 6ayments$ gre% to 2.; 6ercent o' <,+ t&is year. T&at5s #etter t&an t&e U.S )e'icit o' >. 6ercent o' <,+$ #"t Argentina can5t attract international loans at mar4et rates. Instea)$ it "ses Central Ban4 reser3es to #"y '"el o3erseas$ meet 'oreign )e#t 6ayments an) 'inance economic stim"l"s 6rograms$ re)"cing t&e reser3es #y nearly = ! #illion t&is year$ to =! #illion.

In all$ t&e go3ernment &a) to s6en) = ! #illion t&is year im6orting oil an) nat"ral gas$ costing nearly =>@ in &ar) c"rrency 'or e3ery = 00 t&at agric"lt"ral e/6orts #ro"g&t into t&e economy$ t&e ("n)acion Me)iterranea cons"ltancy says.

9T&e ceiling t&at t&e )e#t once 6"t on gro%t& is no% im6ose) #y t&e energy )e'icit$9 sai) Ramiro Castineira$ an analyst %it& t&e Econometrica 'irm in B"enos Aires.

T&e )e'icit &as risen #eca"se long1term #"siness in3estments &a3e slo%e) e3en as t&e go3ernment stim"lates t&e economy$ s"#si)i*es energy an) trans6ortation an) e/6an)s %el'are 'or t&e 6oor.

Signi'icant ne% )omestic energy s"66lies 'rom Argentina5s &"ge s&ale reser3es remain years a%ay$ Economy Minister A/el 7icillo' ac4no%le)ge) t&is mont& as &e 6romote) s6ecial )eals an) ta/ #rea4s to t&e %orl)5s #iggest oil com6anies.

Mean%&ile$ 7icillo' anno"nce) = .- #illion in go3ernment1#ac4e)$ 6eso1)enominate) #"siness loans Mon)ay$ 6art o' a =2 #illion stim"l"s aime) at creating @!0$000 ne% ?o#s in t&e coming year.

He also negotiate) 8"arterly 6rice controls on at least :- o' t&e t&o"san)s o' 6ro)"cts sol) in s"6ermar4ets$ #"t 6ri3ate economists say s"c& meas"res &a3e alrea)y 'aile) to control in'lation.

9T&e iss"e o' in'lation is '"n)amental$ #eca"se it &as %i6e) o"t t&e 6rotection t&at social 6lans 6ro3i)e) to t&e 6oor$9 sai) Jorge Oester&el)$ s6o4esman 'or t&e E6isco6al Con'erence o' Argentine Cat&olic c&"rc& lea)ers.

BBB

Associate) +ress %riter Mic&ael Carren contri#"te) to t&is re6ort.

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T&e Argentine 6eso Clam6e) Hea3y1&an)e) controls on 'oreign e/c&ange s6a%n ela#orate )o)ges 2o3 ;t& 20 ! D BUE2OS AIRES D (rom t&e 6rint e)ition &tt6A00%%%.economist.com0ne%s0'inance1an)1economics02 -@EE E1&ea3y1&an)e)1controls1 'oreign1e/c&ange1s6a%n1ela#orate1)o)ges1clam6e)

A2FO2E %al4ing )o%n (lori)a Street$ a 6e)estrianise) s&o66ing s6ot in )o%nto%n B"enos Aires$ is greete) %it& #ra*en c&ants o' Gcam#io$ cam#io$ cam#ioH IGc&ange$ c&ange$ c&angeHJ. T&e c"rrency1tra)ers %&o congregate t&ere %ill sell a )ollar 'or a#o"t ten 6esos.

T&ey &a3e no s&ortage o' c"stomers. Fet in t&eory$ anyone can #"y a )ollar 'rom t&e go3ernment 'or -.E- 6esos. T&at t&e e/c&ange stalls o' (lori)a Street remain in #"siness is testimony to t&e increasingly con3ol"te) an) 'arcical manner in %&ic& ArgentinaKs em#attle) go3ernment is managing t&e local economy.

(or t&e 6ast co"6le o' years$ t&e go3ernment &as #een gra)"ally tig&tening t&e Gclam6H$ an "no''icial 6olicy o' )isco"raging 6"rc&ases o' )ollars. T&e intention is to 6re3ent Argentines alarme) #y rising in'lation 'rom ta4ing t&eir money o"t o' t&e co"ntry an) t&"s )raining t&e go3ernmentKs 'oreign reser3es.

T&ose see4ing )ollars at t&e o''icial rate &a3e to e/6lain %&y t&ey nee) t&em. A66lications are o'ten re?ecte) #eca"se o' s"66ose) inconsistencies in t&e a66licantsK ta/ 'ilings$ es6ecially i' t&ey are sim6ly see4ing a sa'er store o' 3al"e t&an t&e 6eso. Accor)ing to Eric Riton)ale o' EconLie%s$ a cons"ltancy$ t&e go3ernment sol) a#o"t =@0 #illion to Argentine sa3ers 'rom 200: to 20 . Since t&e clam6 too4 e''ect$ t&e n"m#er &as )ro66e) almost to *ero.

T&ose loo4ing to #"y )ollars 'or 'oreign tra3el are 'orce) to 'ill o"t )etaile) 'orms e/6laining t&e 6"r6ose an) )"ration o' t&eir tri6 an) t&e 6laces t&ey 6lan to 3isit. T&e ma/im"m allocation is =:0 a )ayM some %o"l)1#e tra3ellers recei3e #arely eno"g& to #"y a co''ee an) a san)%ic& at t&e air6ort on arri3al.

Mean%&ile$ t&e "se o' Argentine cre)it car)s to ma4e 6"rc&ases a#roa) is s"#?ect to a ta/ o' 20NOin e''ect$ %orsening t&e e/c&ange rate to :. > 6esos to t&e )ollar. T&at is still #etter t&an t&e rate a3aila#le on (lori)a Street$ so it &as ins6ire) Argentines a#le to a''or) international tra3el to go on s&o66ing s6rees in America an) E"ro6e. In Se6tem#er Argentines s6ent :N more a#roa) t&an t&ey &a) a year #e'ore

(irms &a3e also 'o"n) a %ay aro"n) t&e clam6$ in t&e 'orm o' somet&ing calle) t&e #l"e1c&i6 s%a6 rate. T&is in3ol3es #"ying )ollar1)enominate) #on)s 'rom Argentine iss"ers "sing 6esos an) t&en imme)iately reselling t&em in America 'or )ollarsOa 6rocess %&ic& c"rrently yiel)s a rate o' aro"n) E 6esos to t&e )ollar.

T&ose %&o )o not &a3e access to s"c& tec&ni8"es resort to t&e in'ormal mar4et. J"an P"is Bo"r o' (IEP$ a t&in41tan4$ g"esses t&at =!0m1>-m a )ay c&anges &an)s t&ro"g& "no''icial c&annels. Mean%&ile ArgentinaKs reser3es &a3e )ro66e) #elo% =!- #illion$ t&e lo%est le3el in si/1an)1a1&al' years. T&at s"ggests t&at a '"rt&er tig&tening o' t&e clam6 is in t&e o''ingOi' yo" acce6t t&at it e/ists. Cristina (ernQn)e*$ t&e 6resi)ent$ recently insiste)A GT&ere is no clam6 o' any 4in). I ?"st came 'rom 2e% For4$ an) yo" canKt e3en imagine t&e n"m#er o'

Argentines I ran into.H S&e %o"l) )o"#tless #e s"r6rise) #y t&e n"m#er on (lori)a Street as %ell.

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ArgentinaKs economy <a"c&o #l"es A )ollar s&ortage #ites A6r !t& 20 ! D BUE2OS AIRES D (rom t&e 6rint e)ition &tt6A00%%%.economist.com0ne%s0americas02 -:; 201)ollar1s&ortage1#ites1ga"c&o1#l"es

(OR se3eral years ArgentinaKs go3ernment &as 6reten)e) t&at in'lation is #et%een a &al' an) a t&ir) o' its tr"e rate. B"t t&e 6retence is %earing t&in. 2o%&ere is t&at clearer t&an in t&e 'oreign1e/c&ange mar4et. Past mont& Cristina (ernQn)e*$ t&e 6resi)ent$ calle) an emergency meeting o' &er economic a)3isers a'ter t&e 6eso 6l"nge) to @.:- to t&e )ollar in t&e "no''icial mar4et$ >2N #elo% t&e o''icial e/c&ange rate Isee c&artJ.

T&e %o##le 'ollo%e) an anno"ncement t&at t&e ta/ on cre)it1 an) )e#it1car) 6"rc&ases ma)e a#roa) %o"l) rise 'rom -N to 20N an) #e a66lie) to )omestic 6"rc&ases o' 'oreign tra3el 6ac4ages. T&is is only one o' many controls Ms (ernQn)e* &as im6ose) to stem ca6ital 'lig&t since Octo#er 20 $ %&en s&e %as re1electe). T&e go3ernment &as restricte) im6orts$ 'orce) some in)"stries to re6atriate all o' t&eir e/6ort earnings$ an) almost &alte) t&e sale o' 'oreign c"rrency at t&e o''icial rate.

T&e aim is to 6re3ent Argentines 'rom res6on)ing to an "ncertain economy as t&ey normally )o$ #y r"s&ing to #"y )ollars. In t&at sense$ t&e controls &a3e #een a tri"m6&A t&ey &a3e slas&e) ca6ital 'lig&t 'rom =2 .- #illion in 20 to =!.> #illion last yearM 6ro'its an) )i3i)en)s sent a#roa) &a3e 'allen 'rom =>.> #illion in 20 to =200m in 20 2. B"t t&e 3ictory is a +yrr&ic oneA cons"mer an) in3estor con'i)ence is s&ot to 6ieces an) many com6anies can no longer com6ete. T&e e/c&ange rate 'or t&e "no''icial G#l"eH )ollar$ as it is 6o6"larly calle) I'or reasons %&ic& are o#sc"reJ$ is o"t o' control.

All t&is &as 6rom6te) some #"sinesses to ret&in4. Bra*ilKs Lale last mont& s"s6en)e) a =; #illion 6otas& 6ro?ect in %&ic& it &a) alrea)y s"n4 =2.2 #illion. Soya#ean 'armers$ ArgentinaKs #iggest so"rce o' e/6ort )ollars$ are irateA t&ey say t&ey &a3e to im6ort s"66lies at t&e #l"e )ollar rate$ %&ile 'or sales t&ey recei3e ?"st !.20 6esos 6er )ollar a'ter 6aying ta/es. T&ey are tal4ing o' &alting t&e sale o' t&is yearKs soya &ar3est in May in 6rotest.

In an e''ort to control t&e #l"e )ollar$ <"illermo Moreno$ t&e #elligerent secretary 'or internal tra)e$ &as trie) to #"lly 'oreign1e/c&ange )ealers. B"t strong1arm tactics no longer seem to #e %or4ing. T&e ga6 #et%een t&e o''icial an) t&e #l"e )ollar &as %i)ene) s&ar6ly t&is year. GItKs a #it o' a sel'1'"l'illing 6ro6&ecy$H says Bret Rosen o' Stan)ar) C&artere) Ban4. GC&en 6eo6le sense t&e go3ernment is trying to 4ee6 t&em 'rom #"ying )ollars$ t&eyKre more moti3ate) to 'in) t&em. An) t&ey %ill al%ays #e a#le to 'in) t&em.H

T&e go3ernment is t&o"g&t to #e "ns"re a#o"t %&at to )oA im6ose more c"r#s$ ma4e t&e m"lti6le e/c&ange1rate system o''icial$ or "se t&e Central Ban4Ks reser3es to 'loo) t&e mar4et an) ease t&e 6ress"re on t&e #l"e )ollar a&ea) o' a legislati3e election )"e in Octo#er. B"t #y late Marc& t&e reser3es &a) 'allen to aro"n) =>0 #illion$ t&eir lo%est le3el in more t&an 'o"r years. In m"c& o' t&e rest o' Patin America 'oreign1e/c&ange s&ortages are a t&ing o' t&e 6ast$ an) go3ernments allo% #"sinesses to earn an) s6en) )ollars normally. B"t Argentina$ as so o'ten$ is a la% "nto itsel'.

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