Argentina to Hike Interest Rates to 75% as Inflation Nears 100% | Hacker News Reader

Argentina to Hike Interest Rates to 75% as Inflation Nears 100%

finance.yahoo.com

50 pointspaulpauper7 comments

I've heard stories from coworkers that it is apparently common for Argentinian developers to negotiate contracts in terms of USD and that our former employer's unwillingness to accommodate such demands resulted in most of the Buenos Aires teams leaving. Given the circumstances, I can't blame them.

Seems like more of a hassle for your employer to convert currencies. Weird that they wouldn't accommodate it.

The best job in Argentina today is to work as IT freelancer abroad, charging via a plc or similar, and transferring small amounts of USD to ARS (while avoiding tax and getting black market exchange rates)

It’s sad when a country’s talent cannot help in building the country up again. Too much disenfranchised thanks to politicians…

I live in next to Argentina (Chile), and every time I hear a story on their economy I am reminded of the fact that reality beats fiction. Apart from the chronic currency devaluation, the illegal but ubiquitous blue dollar, the 10+ different USD "exchange" rates (some say more than 30), the total tax rate >100% (according to the World Bank), I wonder how do they endure such conditions for decades. All my argentinian friends work for american companies remotely, if they haven't emigrated already.

And then in Asia, countries are eliminating subsidies and raising prices on staples that poor people depend on to appease the IMF, e.g., rich Western bankers opportunistically exploiting liquidity and credit crunches in the wake of largely Western-made climate disasters and knock-on effects of other tilted policies.

As part of the "K"-shaped recovery, I would say the past 3 years have been the worst for average Indians, Pakistanis, Africans, and others throughout E(-eastern)MEA.

GPT-3?

countries are eliminating subsidies and raising prices on staples that poor people depend on to appease the IMF

Everybody loves free markets until it's time to do free market things.

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