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Argentina is in a massive financial mess. The Argentinian government reports an inflation rate of 10.5% when the actual rate is 25%. This is a country that fines economists for publishing their own inflation data. Any data that conflicts with that of their government is deemed to be illegal.
Argentina is in a massive financial mess. The Argentinian government reports an inflation rate of 10.5% when the actual rate is 25%. This is a country that fines economists for publishing their own inflation data. Any data that conflicts with that of their government is deemed to be illegal.
Well BRICS had no options left after countries in MIKTA formed their own alliances.
Maybe BRICS should have invited non G-20 countries, such as Nigeria or Egypt if South Africa doesn't mind sharing its sole representation of Africa.
TBH, I think even Colombia is a better choice than Argentina for Latin America.
Honestly I feel like either China or Korea should be invited to G8.They might probably say no to China because everything about it sucks except for its economy,while Korea is on par with Canada or Italy in terms of size,and on par with pretty much all 7 nations of G8 in terms of GDP per capita.And unlike Spain,it's still going strong.
Why? because the figures published by the government of Argentina should be taken with more than a pinch of salt.
For example the government figure on inflation 10.5% is wrong, because every independent economist in Argentina, and the rest of the world know that it's actually 25% and rising. Also because Argentina defaulted on their debt the government have to pay a higher premium for any money they borrow.
Why? because the figures published by the government of Argentina should be taken with more than a pinch of salt.
For example the government figure on inflation 10.5% is wrong, because every independent economist in Argentina, and the rest of the world know that it's actually 25% and rising. Also because Argentina defaulted on their debt the government have to pay a higher premium for any money they borrow.
World Bank has removed Argentina's GDP (PPP) data.
I read that the IMF have demanded a review of Argentina's statistical methodology when it comes to calculating their rate of inflation. In other words they don't believe the figures coming out of Argentina.
No wonder the Argentinian economy is a basket case.
BRICS has lost much of their luster. Their economies are all faltering a bit just as the G7 is stabilizing and strengthening--and that's really better for the entire world in my opinion.
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