It must definitely be the case, but I have no idea how. Can you explain it to me like if I was a 5 years old?
Because the borrower is usually desperate and the lender will always be able to charge a punishing interest rate?
Posts from Splinter in thread „Coronavirus and the Argentine economy“
-
-
I had no idea the province was so heavily in debt, but can clearly see Kicillof's intransigence.
-
This from The Essential:
Two Cents...
- The Argentine peso is in free fall, trading at 190 per US dollar in the country's black markets, after the latest Central Bank restrictions to protect the country's foreign currency reserves failed to halt the run to safety, as anticipated by The Essential. The government has continued making small announcements each week to try to make peso investments more attractive, but only a stronger change of course will be able to switch expectations.
- One of Argentina's largest businessmen, Gustavo Grobocopatel, announced earlier today that he will follow on the footsteps of Mercado Libre's founder and CEO Marcos Galperin, and move to neighboring Uruguay, after exiting his successful agricultural firm Los Grobo, a modern giant in Argentina's agricultural sector, a trend that has accelerated after the Peronist victory in the 2019 presidential election.
-
I applied for the 0% interest, government sponsored credit card up to AR$60,000 which also pays for three months of your self-employed tax contributions (monotribuito) and at the same time, opened a savings account with debit card at Banco Ciudad which is free of any charges. I must say that both procedures were hassle-free and all I have to do now is to wait for the cards to arrive by post.
Personally, I won't be using the credit card and will be leaving it to our in-house accountant to take advantage of the zero interest usage as she sees fit, mainly because I never wanted a credit card in the first place.
It's worth pointing out that you have to have your AFIP status in order and are invoicing regularly as a self employed person, something a good accountant can help with.
Shame I can't go out on a spending spree
-
Seems your mayor, Guillermo Britos, has a brother, Fabio. They like to keep it in the family then?
-
Looks like quite a lot happens in Chivilcoy.
-
I penned a short article on this very subject.
-
I did a transfer to a USD bank account here and am taking all of it out tomorrow on the advice of Adri.
2001 still reverberates a la Corralito.
-
serafina ......I think by certain words in the threads he appear by himself.....just liked he appeared out of nothing first time hahaha
Who are we talking about here?
-
I have another contact who will give pesos for PayPal dollars.
I'll check to see if he's doing it, bearing in mind the circumstances.
-
Does anybody know if it's possible to send cuevas money from my PayPal dollar account and they pay me pesos in cash. Do they do that?
Good question Semigoodlooking
I'll be using one this week. He's very reliable and is now offering a mobile service i.e. we meet in a dark alley or YPF.
I'll ask him if he deals in PayPal transfers.
-
According to La Nacion, all commercial flights in and out of Argentina are grounded until 1st September, but as with all these measures it may be subject to review every two weeks.
The gist appears to be that all sales of tickets are forbidden till that date.
We have flights with Norwegian for 7th September to fly to the UK, but this is looking more doubtful every day that passes. Will Norwegian survive?
The company initially advised us in March:
• If your travels are for May 2020 or later, please refrain from contacting our Customer Care team at this time.
The page hasn't really been updated since then.
Edit:
Just spotted this:
https://www.thelocal.no/202003…r-coronavirus-rescue-loan
-
Frozen peas are pretty good, especially since the tinned ones are like bullets.
-
The economy is taking a turn for the worse as the government ramps up the money printing machine, inflation shoots up and the informal dollar market is now looking at US$1=AR$120.
If you've got dollars in an Argentine bank, it would be a good idea to take them out and put them under your mattress.
I know people that have now closed their safety deposit boxes at the bank and withdrawn all their cash and valuables, not only because of the monthly cost but because of a possible corralito.
-
Somehow the country muddle on, I reckon.
