BUENOS AIRES (Reuters) – Argentina is closing a year of “endless storms,” in the words of President Mauricio Macri. External and internal shocks to the economy halved the value of the peso against the U.S. dollar, sent inflation on an upward spiral and sank the country into a deep recession.
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Jan. 11: Official data for 2017 shows inflation in Argentina well above the central bank’s goal, fueled by hikes in prices for utility services, gasoline and public transportation.
Jan. 23: Argentina posts $8.5 billion trade deficit for 2017, compared with a surplus the year before. Total imports jump on the back of economic recovery and Macri’s trade liberalization, while exports sag due partly to a strong peso currency.