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A $20 Billion Band-Aid for Argentina
Summary by Zeihan on Geopolitics
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A $20 Billion Band-Aid for Argentina
The US just committed roughly $20 billion in a currency-swap with Argentina. That’s a whole lot of pesos. So, why did the US extend this lifeline, and will it save Argentina from itself?The currency swap can buy Argentina some time by backstopping the peso. However, given the fundamentally flawed economic and political situation in Argentina (and the track record of defaults and currency collapses), this swap is just a band-aid.The US is taking …
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