Argentina on the Brink

http://www.nytimes.com/2014/01/29/opinion/argentina-on-the-brink.html?_r=0

In Argentina in the last decade Argentina has come back to reoccurring finical problems.  For instance, President Cristina Fernández de Kirchner has devalued the Peso for Argentina and on top of that has relaxed some capital control.  The reason why the President did this is because it would release the pressure from country’s dwindling foreign reserves.  There was some positive results by printing more Peso money because the president did use some of that money to wasteful subsidies and financing the government.  This did lead to inflation, which took a told economy because the consumer price shot up 28 cents and the official inflation rate was 10.9 percent.  

The President made some other bad decision like picking unnecessary fights with private businesses and investors, which lead to hurting Argentina's economy.  On top of that she made a law of how much a citizen could convert Peso to dollar.  This lead to a thriving black market in currency.  Recently there has been some improvement, but only small ones.  A great example of one is economy minister, Axel Kicillof, has been doing a great job by negotiating with the oil company, because of that damage that the President has done.