Wednesday, January 26, 2011

Another reason Argentina is not awesome

So, this was going on the week we arrived-- Greater Buenos Aires started to run out of small bills-- "monedas." There was a shortage of cash, even at the banks. This of course hits the poorest the hardest. Those who buy food stuffs and other necessities with smaller bills couldn't get change, gunking up the gears of making essential transactions.

CFK's government solved the problem by printing a bunch of new bills (in Brazil of all places ¡!¡) and it seems the crisis is in retreat. But this is a core competency for the government, and when it impacts the ability of ordinary people to go into a store and buy the food they need, it's a sign it has failed badly.

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