Argentina’s overnight loan rate between banks is rising the most in two years as inflation quickens and speculation grows that lenders are facing a shortage of peso bills.
Argentine President Cristina Fernandez de Kirchner’s foreign-exchange controls are driving pesos underground.
Argentina owes itself more money than ever as President Cristina Fernandez de Kirchner squeezes pesos out of public institutions from the pension agency to the lottery, a decade after losing its access to overseas financing.
"If the government is recurring to this rhetoric more and more, it shows the situation is getting more complicated."
- Camilo Tiscornia on Sep 18, 2014