Seeking Alpha

Argentina's problems go from bad to worse

  • "Things are rapidly coming unglued" in Argentina (ARGT), and worries are growing about the potential for the country’s woes to spill outside its borders.
  • Worries about Argentina’s thinning foreign exchange reserves helped spark a 15%-plus drop in the Argentine peso today, as traders say the central bank stopped defending the currency - a sign it may be hitting the bottom of its foreign currency reserves.
  • Argentina's trade surplus fell 67% Y/Y to $272 million in December amid a plunge in exports.
  • The turbulence has spilled over into stocks, as U.S.-listed shares of energy giant YPF tumbled 12% today, adding to an 8.9% decline yesterday.
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Comments (9)
  • Tack
    , contributor
    Comments (14244) | Send Message
     
    What a surprise under the modern re-incarnation of Eva Peron.
    23 Jan 2014, 06:17 PM Reply Like
  • TruffelPig
    , contributor
    Comments (4103) | Send Message
     
    YPF was recently upgraded by MS. Is this eventually going to be a buy?
    23 Jan 2014, 06:33 PM Reply Like
  • ksteiner
    , contributor
    Comments (27) | Send Message
     
    Socialism really works huh?
    Oh and I won't be crying for you Argentina, yuk, yuk.
    23 Jan 2014, 07:10 PM Reply Like
  • Mobywhite
    , contributor
    Comments (413) | Send Message
     
    Shocking! the country that has defaulted the most times in the world is going to.....default again.
    23 Jan 2014, 07:52 PM Reply Like
  • DeepValueLover
    , contributor
    Comments (9553) | Send Message
     
    According to Paul Krugman now is the time for the Argentine government to spend, spend, borrow and spend.

     

    The only solution for Argentina's debt problem is a whole lot more debt.

     

    Isn't it obvious?

     

    I wonder how many Argentinians are laughing at the thought of each citizen owning a dozen gold coins or so.

     

    Oh yeah...gold is a useless relic and owning it wouldn't help Argentinians one bit.
    23 Jan 2014, 10:06 PM Reply Like
  • orfernan
    , contributor
    Comment (1) | Send Message
     
    • En 2013, superávit comercial cayó 27% a u$s 9.024 M no 67%
    24 Jan 2014, 01:48 AM Reply Like
  • Lakeaffect
    , contributor
    Comments (1147) | Send Message
     
    Comercial si, pero que paso en el Mercado negro con el peso paisano?
    24 Jan 2014, 08:23 AM Reply Like
  • vicsel
    , contributor
    Comments (2) | Send Message
     
    ypf is independant of nation's problems
    24 Jan 2014, 12:30 PM Reply Like
  • Urbannek
    , contributor
    Comments (1140) | Send Message
     
    Not when they try to nationalize it. Would be a good energy company without that.
    24 Jan 2014, 02:38 PM Reply Like
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