The Struggle Must Go On
Argentina is booming again after years of decline. But it needs to attract foreign investment to keep the economy growing. And that will require a deal with bondholders and the International Monetary Fund.
Argentina has not seen a summer like this in years. It's as if
all the last few years of economic crisis and political chaos
were just a bad dream. Buenos Aires is sweltering in a heat
wave. Fashionable new restaurants and chic boutiques are doing
a roaring trade. New auto registrations doubled in January.
Over in Punta del Este, the Uruguayan beach resort that caters
to wealthy Argentines, hotels are packed and the casinos are
making a fortune. In January alone, the town's casinos pulled
in $100 million in bets.
Staking out the Casa
The economy grew 8.4% last year and should rise another
5%-6% this year. The last time Argentina's economy grew was in
1997. Excellent international soy prices and recovery in
consumer confidence at home have powered the economy along.
No Way to Pay
President Néstor Kirchner, elected last year with only
22% of votes,...
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