Unorthodox Rebound for Argentina's Economy
USA TODAY'S David Lynch writes in todays edition about Argentina'a economy, and its recovery from the 2002 financial collapse, check it out if you are interested in Argentina's financial condition. What do you think about the governments plans to continue growth even at the high costs of inflation, or do you think they should consider slowing growth to limit inflation? You are welcome to comment through the 'post comment' link below.
By David J. Lynch, USA TODAY
"The economy purrs at a growth rate of better than 8%."
"Over the past four years, Argentina has recovered its hope," says Mercedes Marco del Pont, a member of Congress.
"The biggest significance of this recovery is they just rejected the orthodox economic advice … and they've been the fastest-growing economy in the Western Hemisphere over the last five years," says Mark Weisbrot, a left-of-center economist at the Center for Economic and Policy Research in Washington.
"As the grumbling grows in Argentina's financial community, some in the government insist that the country shouldn't be judged by the same criteria as fully developed economies such as the United States or European Union. Interest rates, for example, are less important here in determining economic growth because 90% of transactions are conducted in cash."