IMF okays SDRs for countries beleaguered under the covid-19 pandemic
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Argentina makes payment to Paris Club, loses reserves to cope with domestic demand of foreign currency
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Taking sides in the new cold war | Art by Joaquín Temes
As well as telling North Americans that when travelling abroad it would be better for them to give certain crime-ridden places a wide berth, the US State Department regularly advises investors against putting their money in dodgy countries where the risk of losing it is high. Unfortunately for just about all of us, Argentina is one such country. In its latest report, which was made public a couple of days ago, the State Department warns businessmen interested in earning an honest penny here that they would run into a wide range of difficulties, among them corruption, untrustworthy courts, unpredictable interventionist policies, rigid labour laws, capital, export and price controls. As far as Joe Biden’s administration is concerned, Argentina is not for them.