Argentina’s Unseen Fragility
With growth fueled by an increase in debt, Argentina is facing an uncertain economic future, despite investors' generally rosy view. The government of Mauricio Macri has options to address the country’s macroeconomic risks, but none of them will be free of tough choices.
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NEW YORK – At first glance, Argentina’s macroeconomic outlook appears bright. Growth has rebounded after a period of stagflation; last year, GDP rose 2.9% year on year, while annual inflation fell to 24.8%, from nearly 40% in 2016.