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Sales of food, cars slow in Argentina after peso crash as election looms - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.

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Sales of food, cars slow in Argentina after peso crash as election looms via SABCNewsOnline

The peso got slammed for a third day on Wednesday, despite President Mauricio Macri unveiling measures to soften the impact of austerity on voters, as savers piled into US dollars rather than wait to see if the steps would be enough to boost his popularity.collapse in the peso

The peso got slammed for a third day on Wednesday, despite Macri unveiling measures to soften the impact of austerity on voters, as savers piled into US dollars rather than wait to see if the steps would be enough to boost his popularity. Macri’s austere public spending policies are liked by the bond market, but they have proven disastrous for his popularity among middle- and low-income Argentines struggling to pay electricity and heating gas bills that surged after the administration cut subsidies.

 

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