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The Story of Money

The economic crisis in Argentina explained

The Story of Money

Manuela Saragosa

Business, Crypto, Markets, Finance, Banking, Investing, History, News

4.4400 Ratings

🗓️ 29 May 2018

⏱️ 19 minutes

🧾️ Download transcript

Summary

After Mauricio Macri came to power in 2015, international investors poured money into Argentina's hundred-year bond with the hopes that the centre-right leader would stabilise the economy after years of disarray. But less than three years later, the president is seeking a loan from the International Monetary Fund, in what some fear could be the the first major sign of the end of the global economic boom. With the FT's Gillian Tett, John Authers and John Paul Rathbone. News review clips: CNN, CNBC, Bloomberg, Al Jazeera English, Reuters. 

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Transcript

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0:00.0

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0:26.6

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Aye and take action today. Hello and

0:35.0

welcome to Behind the Money. I'm Amy Keene, a reporter for the Financial Times in New York.

0:40.0

This week on the show we're looking at Argentina and whether the country's looming

0:44.7

currency crisis marks the beginning of the end of years of global economic boom. When Mauricio Macri was elected President of Argentina in 2015,

1:00.0

International investors poured money into the country.

1:04.0

And the idea was that as a center-right reformer,

1:07.0

he would take charge of government spending and corruption

1:10.0

and try to normalize an erratic economy.

1:13.0

But less than three years with Thackeray at the helm,

1:15.0

the country is again facing tough times.

1:18.0

And both investors and Argentina are bracing for what comes next. No, I hate it, no, no, no,

...

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