Historic drought adds to Argentinas economic woes

Historic drought adds to Argentinas economic woes
LIMA: Argentina’s already fragile economy is now taking a beating from nature, as the worst drought in almost 100 years decimates critical soy, wheat and corn production. Soy and wheat crops were halved this year, while corn yield was cut by more than a third, according to official projections, slashing Argentina’s exports in a sector crucial for the public purse. Adding to inflation of nearly 100 percent year-on-year and a burdensome debt of $44 billion with the International Monetary Fund (IMF), the drought could not have come at a worse time for Latin America’s third-biggest economy. What’s more, “the true…

Leave a Reply

Your email address will not be published. Required fields are marked *