Argentina’s foreign reserves are at nine-year lows. Prices on the country’s commodity exports are down. The budget deficit is at its widest in three decades. Inflation is running at an annual pace of over 20%. Still, this is South America’s third-largest economy and home to abundant natural resources, levering the country to the rebounding commodities trade.
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“In his first year in office, Macri is seeking to revive the economy, slow inflation that’s skyrocketed to 47 percent and strengthen the nation’s finances. A cornerstone of his plan is $35 billion in infrastructure spending next year that he says will kickstart growth,” according to Bloomberg.
Even with last week’s slide, ARGT is still up 24% year-to-date.
Global X MSCI Argentina ETF
