Residents hoard dollars in times of crisis: "So I save"
The near-worthless Argentine peso has caused the country's residents to hoard US dollars in cash on a large scale, as a form of security. At the same time that inflation is raging, Argentines are saving their cash in everything from safety deposit boxes to drawers in the home, reports SVT Nyheter.
One of them is Veronica Ahumada who does not want to tell where her money is.
- With inflation and our low wages, we have to save what little we have in dollars. That's how I save.
The election will be decided on Sunday. It is between the centre-left politician Sergio Massa, current Minister of Economy, and the controversial ultra-liberal Javier Milei.
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Poverty and lousy currency - that determines the Argentine election
The state of opinion is extremely even before Sunday's presidential election in Argentina, where residents choose between the current economy minister, center-left politician Sergio Massa, and the radical right "outsider" Javier Milei.
The outcome is uncertain, but it is clear that the crumbling economy is the voters' most important issue, according to the BBC. 40 percent of the inhabitants live in poverty and inflation has skyrocketed to 142 percent.
In most areas, the candidates have widely differing opinions, but when it comes to economic policy, the line is similar in many ways, says economics professor Paulo Feldman. The main features are that the state is insignificant, and that no rules are needed because "markets solve everything".
- We know that is not true. There is no develop
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