Argentine Government Speeds Up Money Printing Ahead of Election
- Central bank has printed ARS180b in July, double June’s amount
- It’s pressuring the FX market, potentially fueling inflation
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Argentina’s central bank is printing money for the Treasury in July at the fastest pace so far this year, potentially fueling even more inflation as it helps to finance government spending ahead of midterm elections in November.
The monetary authority led by Miguel Pesce sent 180 billion pesos ($1.86 billion) to the government in the month through July 22, double the amount for all of June and the most since last December. It has shipped funds to the Treasury for a third time this month, according to the most recent data published on Wednesday.