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Argentina Is Running Out of Cash to Stave Off Devaluation

  • Reserves are dropping as analysts try to guess at what remains
  • Just last week, the central bank hemorrhaged $1.47 billion
Updated on

Even in Argentina, a country whose very name has become synonymous with financial crisis, the current moment is dire.

With inflation hurtling toward triple digits and, economists say, just a policy mistake or two away from setting the stage for hyperinflation, the central bank is desperately trying to avert a peso devaluation that would only trigger another wave of price hikes.