The measures were not known and El País had already spoken of "the horrible August of Argentina"

"Macri is at the end of an agonizing cycle, with a continuous depreciation of the currency and a risk of suspension of payments", says an article in the newspaper El País published on the Web today, before the new provisions of the Central Bank on the movement of the foreign exchange market are known.

The article, chronic style, begins with a panoramic view of the street: "We must live the same story again," said a major financial intermediary in a restaurant in Buenos Aires. "Same thing again," sighed an employee. domestic while going back to an apartment in Recoleta "We, the Argentineans, never know," murmurs a waiter, between anguish and resignation, Argentina crosses its nth crisis. The elements are the same, as always: high inflation, lack of growth, depreciation of the peso, need for dollars and inability to pay debts. The week that ends today was a vertigo. August was horrible. And we have the feeling that the worst is yet to come. "

He then describes the latest measures of the new Minister of Economy, Hernán Lacunza, who "was forced to wake up the worst ghosts of the past: he announced that the debt would be" reperfiled "(each crisis has its neologism), that is, it would pay on the due date, in order to save reserves, support the peso, rebadure the markets and reduce country risks, did it? he said at $ 2,500, the dollar had gone from 60 to 62 pesos, the markets were still in red alarm and the debt rating agencies began to quote the most feared word: default or suspension of payments.

"The month of August has been a nightmare for the Argentine economy," the message continues, noting that "the key moment was marked by the primary elections of 11, those that, according to President Mauricio Macri, would define "the next 30 years. Macri suffered a monumental collapse (49% vs. 33%) and it was clear that the next president was not going to be him, but the Peronist Alberto Fernández, accompanied to the vice presidency of the 39, ex-president beloved and very hated Cristina Fernández de Kirchner The financial indicators fell on the following Monday. The drama of August can be summed up in a few figures: the stock market dropped by 72%, the peso depreciated by 38%, the value of the bond debt was reduced by 55% and inflation was uncontrollable. There are no official figures yet, but it is estimated that prices will have risen by at least 5% in one month. This brings annual inflation to around 60%. "

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"For Macri, obviously shocked by the primaries, and for the coalition as a whole in government, the crash is due to the fear of investors to see the return of Kirchnerism.This factor counts, no doubt.But Macri's mistakes count also, the debt became uncontrollable (for which he was forced to seek help by incurring additional debt of $ 57,000 million from the International Monetary Fund), which was unable to control the debt. Inflation, which has caused a recession its austerity policy and especially its lack of perception of the discomfort felt in the homes of a country where more than a third of the population lives in the country. poverty and almost 10% suffer from serious dietary deficiencies, "he adds. .