Economy looms large over Argentina’s presidential run-off
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 17 November 2023
⏱️ 7 minutes
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Summary
From the BBC World Service: Argentina will choose a leader on Sunday, so what economic factors will be on voters’ minds? Also, an executive of U.K.-based Stability AI quits over concerns about using copyrighted works without consent. And as shoplifting rises globally, the boss of a store chain in Wales talks about the impact thefts have on the business.
Transcript
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| 0:00.0 | In Argentina, voters are deciding on who they think is best for the economy. |
| 0:07.0 | Hello and you're listening to the Marketplace Morning Report live from the BBC World Service. |
| 0:11.0 | I'm Leanna Byrne, a very good morning to you. |
| 0:13.2 | Argentines will choose a new president on Sunday and at the center of the campaign |
| 0:18.2 | is the economy. There are two candidates and it looks like the result will be close. The BBC's Gideon Long has |
| 0:24.8 | lived and worked in South America. Hello Gideon. |
| 0:28.0 | Hey there. |
| 0:28.7 | Gideon, tell us about the problems with the economy at the moment in Argentina. |
| 0:32.6 | Well I'd say the main problem is the inflation rate which is currently running at |
| 0:36.4 | about 140% and has been climbing steadily. |
| 0:40.0 | That makes it very difficult for businesses to operate. |
| 0:43.4 | The other big problem that companies complain about |
| 0:45.9 | is having two different exchange rates. |
| 0:47.7 | The official one is worth around 350 pesos to the dollar, |
| 0:51.0 | but that doesn't really reflect reality. The unofficial rate |
| 0:53.9 | which is a much more reliable gauge of what the peso is really worth puts it at about |
| 0:57.6 | 950 pesos to the dollar. Also a very heavy tax burden for companies, a lot of state subsidies and lots of restrictions on imports. |
| 1:07.0 | I've been speaking to Patricia Ortiz. |
| 1:09.5 | She's a winemaker in Mendoza in the west of the country and I asked her what she wanted from the next government. |
| 1:15.0 | Control of inflation is something that we really need. |
| 1:18.0 | Having just one exchange rate so we can know how we can invest and of course look all the taxes and see what |
| 1:26.3 | makes sense and what makes nonsense. So who are the two candidates and what are |
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