New export controls to combat inflation??

    • Official Post

    I don't understand how more controls over exports of meat and grain etc can possibly combat inflation. Could someone pleas enlighten me?

    These are the new measures:

    Quote

    The detail of bank accounts with which it operates, bank movements of the last 6 months and financing lines granted by the informed entities.

    The work plan projected for next year, with details of merchandise to be exported, volumes, suppliers and destinations.

    The detail of the personnel in relation of dependency and the contracted work risk insurance company and proof of the banking entities where the workers' assets are deposited.

    The last certified accounting statement, for Legal Persons and an updated and certified Manifestation of assets for Human Persons or partners and / or shareholders in the case of recently established Legal Persons.

    The proof of foreign exchange earnings, for the last year, in the case of having carried out export operations.

    Quote

    The portfolio led by Luis Basterra emphasized that in the face of this situation and "the urgent need to achieve a broader formalization, transparency and control of an activity as sensitive as export, it is deemed convenient to establish new requirements, which will be required for the purposes of its registration and permanence in the Single Registry of Operators of the Agroindustrial Chain (RUCA) and the consequent authorization, to legally exercise trade ”.


    As indicated in the recitals of the standard, the requirements that are now demanded “tend to minimize the existence of operators in marginal, informal and insolvent circuits, which are the ones that produce the greatest distortions in the proper functioning of the domestic and export markets. ”.

    Just seems like more bureaucracy and control to me.

    https://tn.com.ar/economia/202…-carnes-granos-y-lacteos/

    • Official Post

    I knew inflation was high in the 80s, but I didn't realise it had reached these levels.

    Quote


    La inflación interanual había alcanzado el 764,% cuando Alfonsín anticipó para el 14 de mayo de 1989 las elecciones que debían realizarse en octubre de ese año. Cuando el 12 de junio el presidente anunció también el adelanto del traspaso del poder a su sucesor electo, Carlos Menem, el índice había trepado a 1.471 por ciento. Menem asumió el 8 de julio. Ese mes la hiperinflación interanual fue del 3.612 por ciento.


    English:

    Interannual inflation had reached 764% when Alfonsín anticipated for May 14, 1989 the elections to be held in October of that year. When on June 12 the president also announced the advance of the transfer of power to his elected successor, Carlos Menem, the index had climbed to 1,471 percent. Menem took office on July 8. That month, year-on-year hyperinflation was 3,612 percent.

  • That chart of inflation rates is an eye-opener, UK Man . There are many more countries I would have expected to have rates more out of control than Argentina.


    And how did Ecuador reverse its inflation?

    The chart just confirms what I've always thought....we're a country who thinks it's first world but in reality has a third world economy. How it continues to survive amazes me.