Where Bitcoin Fits as Argentina Faces a Dollar Shortage and 100%+ Inflation
The Breakdown
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The Argentine Economy Is a Basket Case Outside of the Currency Crisis
Argentina is the world's top exporter of soy and a major global supplier of corn. This year's harvest has seen exports cut in half over the first few months amid monetary uncertainty, which limits the inflow of hard currency via trade. Firms are now required to request permission to pay intercompany debts with dollars,. Service sector businesses applying for dollar conversion now face two month wait times.
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