Argentina emergency interest rates rise to 40% to fight inflation

[George the original one]

Week ago Friday = 27.25%
Thursday = 30.25%
Friday = 40%

"Inflation, a perennial problem in Argentina, was at 25% in 2017, the highest rate in Latin America except for Venezuela.
This year, the central bank has set an inflation target of 15% and has said it will continue to act to enforce it."

http://www.bbc.com/news/business-44001450

[Riggerjack]

The opposition wants to stop Macri from removing subsidies in controlled prices, such as energy and utility tariffs, which may bring more inflation in the short term but could help bring it down from above 20% now to about 5% by 2020.

Pretty much sums the whole problem up in one sentence. When things are so bad that capital controls are enacted, nothing will get better before the bodies start piling up. The time to leave was back when those price controls were announced.

I was on the Mexican border when they had their hyperinflation. I wish Argentinians luck, that's a dangerous situation.