Forex and others markets: Argentina: waiting for another default and learning bitter lessons of open economy

As reported by «Market Leader» (US)

Argentina: waiting for another default and learning bitter lessons of open economy

Argentina usually stays in shadow. But when it comes to light it means that something is about to happen, the Association of Traders and Investors of Latin America under Masterforex-V Academy explain. This is what happened in March 2011 when according the “Business Insider” rating Argentina became 3^rd on the list of 18 potential bankrupt countries. Greece comes 1^st, Ireland comes 2^nd.

Surprised?

· 20 years ago the IMF considered Argentina to be an ideal, continuously citing it as an example of openness and successful economic development for Russia, Ukraine and Belarus.

· 100 years ago Argentina was the richest country in Latin America and was among TOP 10 successful countries of the world (before WW1 the GDP per capita was higher than in Germany, France and Italy). In Europe they used to say “as rich as an Argentinean”.

· Today it is Latin America’s 3^rd economy (after Chili and Brazil) and 2^nd largest country in Latin America in terms of territory (after Brazil).

· It has richest reserves of natural recourses per capita (only Canada and Australia can compete with it) and fertile land.

· It is a G20 member.