Argentina's economy is growing at 0.2% YoY as the country's inflation rate surpassed 100% for the first time in 30 years.

 

Argentina's economy is growing at 0.2% YoY as the country's inflation rate surpassed 100% for the first time in 30 years.   Analysts estimate that the country is likely in a recession. Economic activity was flat in February from January, according to government data published Monday. The government's strategy of price freezes, currency controls, and multiple exchange rates has failed to improve the inflation rate with Argentina's national currency, the Peso. The current rise in inflation could cost Argentina up to $19B in exports. If the country were to enter a recession, it would be the sixth in the last 10 years.