Argentina Prints to Pay the Bills, Inflates Money Supply to New Record
https://panampost.com/belen-marty/2015/07/17/argentina-prints-to-pay-the-bills-inflates-money-supply-to-new-record/?cn-reloaded=1
EspañolThe Central Bank of Argentina released record-setting figures this month: the monetary base is now at AR$510.5 billion, swelling 10 percent since the start of the year. The central government has used this substantial expansion — comprised of banknotes in circulation, cash in financial entities, and demand deposits in checking accounts — to finance its large fiscal deficit.
President Cristina Kirchner’s administration has monetized the debts with new currency channeled through the National Treasury, on top of raiding the social-security system (Anses). Naturally, this has generated inflationary pressure, with the latest reported year-on-year price-level rise at 28.76 percent, as measured by the National Congress and private consultants for May 2015.
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(Article does continue. Zim.)
(No wonder their currency is crashing.)
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