• Argentina's currency collapses despite massive rate hike as possible debt default looms

    20 days ago - By RT

    Efforts by the Argentinian central bank to stabilize the national currency by raising a key interest rate to 60 percent have done little to soothe rapidly deteriorating sentiment in Latin America's third-largest economy.
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  • Will Emerging Markets Chaos Spread To The Developed World?

    Will Emerging Markets Chaos Spread To The Developed World?

    20 days ago - By ETF Daily News

    From John Rubino : Emerging market chaos is now front page news. Let's start with Argentina, where the peso has resumed its plunge.
    In response:
    Argentina Central Bank hikes interest rate to 60 percent
    - Argentina's Central Bank has increased its benchmark interest rate to 60 percent in efforts to halt a sharp slide in the value of the peso.
    The sliding value of the currency prompted Argentina to seek a financing deal earlier this year with the International Monetary Fund and President Mauricio Macri now is asking for an early release of those funds.
    The peso slipped about 7 percent...
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  • Economic Doom Returns: Emerging Market Currencies Collapse To Record Lows As Global Financial Chaos Accelerates

    Economic Doom Returns: Emerging Market Currencies Collapse To Record Lows As Global Financial Chaos Accelerates

    20 days ago - By The Economic Collapse

    After a little bit of a lull, the international currency crisis is back with a vengeance. Currencies are collapsing in Argentina, Brazil, India, Turkey and other emerging markets, and central banks are springing into action. It is being hoped that the financial chaos can be confined to emerging markets so that it will not spread to the United States and Europe. But of course the global financial system is more interconnected today than ever before, and a massive wave of debt defaults in emerging markets would inevitably have extremely serious consequences all over the planet. It would be...
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