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Nairaland Forum / Nairaland / General / Politics / Foreign Affairs / Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% (24869 Views)
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Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by Babastrong(m): 6:30am On Aug 15, 2023 |
[quote author=Mrchippychappy post=125115117]Una no dey ever find better examples? If not Somalia, na Sudan now na Argentina. Na wa oh.[they should use the country(BIAFRA) that's never existed as an example?] 1 Like 1 Share |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by Tobijays: 6:31am On Aug 15, 2023 |
sonnie10:see bro, maybe that eastern business wey I write sha made you write this, but you see ehn no be only Igbos dy imports! It gradually the whole nation! D truth be say if Nigerians get factories nobody go buy, everyone prefers Oversea products! But if almost all imports are banned factories go just they open left and right begin production! 2 Likes 1 Share |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by Menclothing: 7:04am On Aug 15, 2023 |
One day Nigeria will be great 1 Like 1 Share
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Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by favor914: 7:08am On Aug 15, 2023 |
Taylor90:Guilty conscience of a Wailer. |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by Emaprince: 7:09am On Aug 15, 2023 |
Berrylite:Hunger is already dealing with all of you corn addicts. Your people are on the streets begging for food. So the death might get you quicker |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by favor914: 7:12am On Aug 15, 2023 |
JerryGent1983:Because he have soo many lazy people like you in Nigeria today, that add nothing to the economy. |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by Flangelo12: 7:16am On Aug 15, 2023 |
surgical: In the meantime, with your piss poor productivity level you expect to enjoy parity with stronger currencies? 1 Like |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by SunTzu123(m): 7:38am On Aug 15, 2023 |
DeLaRue: Government at the top is the main instigator (politicians benefit hugely) of corruption. This is why nobody wants to fight it. Like I asked you, do you know anybody who collected TraderMonie? Nobody asked questions due to tribal/religious sentiments. Do you know what it means to have the backing of state power? But they use it intimidate and subdue their political opponents! |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by WantsandMore: 7:38am On Aug 15, 2023 |
Social welfare is sacrosanct, even Tinubu will soon realize that there's no way you can run a country efficiently without it, except you intend to give the economy back to businesses and private big businesses which is even worse. The Nigerian economy has never been intentional about boosting multiple sources of income and punishing corrupt practices of bureaucrats who stand in the way and cause a massive bottleneck to our collective prosperity. |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by Baddass: 8:01am On Aug 15, 2023 |
Cemsorcems: This one is still feeling pains from the pangs of defeat. Brace up for 8 years is a long time away. 1 Like |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by Herbiodun09: 8:25am On Aug 15, 2023 |
Taylor90: Your tweet is out of ignorance. Read again again and make some reasearch dumb skull. The devaluation isnt favouring argentina and this candidate is against it. Dont just jump on anything with that maggot filled brain of yours. Mr Ebola |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by Realist777: 8:52am On Aug 15, 2023 |
Flangelo12:In my secondary school understanding of economy, devaluation would discourage importation, which would in turn boost the value of the currency but it has never worked in reality, especially in our nation. What helps? Well, production, processing of produced goods into different useable forms and enabling environment for entrepreneurship. |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by cucumbar: 9:06am On Aug 15, 2023 |
grandstar:pally, it’s about the abuse…not the subsidy itself. First of all, they haven’t told us how much fuel we consume or they have been subsidizing. That means certain persons have been inflating the figures at will. Why have they been calling subsidy a scam? They talk about smugglers taking subsidized fuel to sell outside Nigeria. Are these smugglers ghosts? Why must you throwaway the baby with the bath water? Why not go after persons abusing the subsidy ? Please be truthful for once. |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by airsaylongcome: 11:15am On Aug 15, 2023 |
Taylor90: Favour them how? Argentina is a basket case. I have an Argentinian colleague and he says it's horrible economically there |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by Adgraced: 4:40pm On Aug 15, 2023 |
1 argentine peso equal to 2.17 Naira. Just another shitty currency like naira. yet argentines during world cups will be forming "white" superiority to Nigerian and other Africans...mtchhh 1 Like |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by nairalanda1(m): 7:51pm On Aug 15, 2023 |
Adgraced: Argentina is a nice looking broke country. 1 Like |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by grandstar(m): 7:55pm On Aug 15, 2023 |
cucumbar: Why must there be a subsidy in the first place? People should pay market determined price for goods and services. That is the right thing to do. There are better ways to help people than with a subsidy. Tinubu made the right call and he has been praised by economist for it. 2 Likes |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by grandstar(m): 8:17pm On Aug 15, 2023 |
Reference: You sound naive ( please don't be quick to take it the wrong way). You sound innocent. In democracies, a leader does not have the luxury of doing what he wants to do. Rather, you do what you are able to do. The meticulousness you desire sadly wasn't there and the blame goes to the acting central bank governor who seems clueless in respect of taming inflation and also the growing spread between the official and parallel market rates. Had he succeeded in deregulating the Naira, we won't be having this discussion. It is the downward spiral of the Naira that is causing the present pain and nothing else. For inflation to be tamed, CBN will need to increase interest rates to 25%. This will bring inflation down but would most likely lead to a recession and it is something Tinubu may not want hence the CBN's steady hand. When interest rates are high, people prefer to save rather than invest, removing cash from the system. With less cash in the system, inflation goes down. It is the prime tool central banks use for combating inflation but it is a double edge sword as it slows economic growth and many times, pushes the economy into a recession. Rates are lowered gradually as inflation falls. A new CBN governor is badly needed now as well as a finance minister. The quick decision you seek won't come as Tinubu unwieldy cabinet takes shape and nominees are appointed to their respective ministries, parastatals and so on. He has political debts he has to pay. 3 Likes 1 Share |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by anonymous1759(m): 9:42pm On Aug 15, 2023 |
cucumbar: Mr heaven |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by PDPdestroyer(m): 9:50pm On Aug 15, 2023 |
grandstar:How do you mean by 'deregulating the naira'? |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by grandstar(m): 9:58pm On Aug 15, 2023 |
PDPdestroyer: Let the value be determined by market forces, by forces of demand and supply 1 Like 1 Share |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by PDPdestroyer(m): 6:29am On Aug 16, 2023 |
grandstar:Isn't that what has happened with the floating of the exchange rate? |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by grandstar(m): 3:11pm On Aug 16, 2023 |
PDPdestroyer: Yes |
Re: Why Argentina Devalued Its Currency, Jacked Up Interest Rates To 118% by CodeTemplar: 9:51am On Aug 18, 2023 |
grandstar:as usual, bullshit logic. Their bloated civil service for example is only a burden to their purse because they don't produce their salary worth. Petrol subsidy should never have been touched without local refining capacity doubling local consumption |
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