US Senators Warn Argentina Risks Credit Default
The Argentine government is struggling to beat back a mounting rush into dollars that has stoked 26 percent inflation.
Via AFP:
Argentine President Cristina Kirchner's government was accused by a leading Republican US senator of risking a credit default and of failing to stand by its democratic promises.
Latin America's third-largest economy appears powerless in the face of the hemorrhage of its currency, the peso, and Argentina's central bank has said it burned through $2.1 billion in reserves in January alone.
Strains in diplomatic relations between the United States and Argentina were aired during questioning of the next proposed US ambassador to Buenos Aires, Noah Mamet, at the Senate Foreign Relations Comm...