Argentina’s economy minister suggested that his government would default on its foreign debt for the ninth time, the Financial Times reported today. It comes amid predictions of rapidly falling GDP and wages, and rising unemployment combined with hyperinflation. Analysts say this will create the “worst crisis” in Argentina ever. As Argentinians mulled an increasingly narrowing set of options, Bitcoin transaction volume on LocalBitcoins exchanges soared last week, according to data from aggregator Coindance.
Between January 2018 and April 2020, cryptoanalysis startup Arcane Research showed that the increase in weekly trading volume between the Argentine peso and Bitcoin registered a 1,028% rise.
restructure Argentina’s foreign debt are in disarray. The South American nation owes approximately $323 billion, even though much of the debt was incurred by the previous administration.
Martín Guzmán, the economy minister, told to financial times that Argentina is effectively bankrupt. The country’s economic challenges include inflation of around 50% and poverty that affects a third of the population.Argentina crisis news link
MAY 04, 2020
" for latest information client free news letter "