Dad Can’t Buy Daughter Shoes as Argentine Currency Falls
Jorge Contrera checked a pair of soiled shoes from top to bottom, tried to buff them with his shirt sleeve, then paid 40 pesos ($5) for his 8-year-old daughter’s present. Before Argentina’s devaluation last month, he planned to surprise her with a new pair.
“Do you know how I feel buying my daughter used shoes?” said 29-year-old Contrera, a welder who’s currently working as a delivery man. “The new shoes just went up and I don’t have the cash.”
Like Contrera, many Argentines see their standard of living falling as the fastest pace of inflation in a decade erodes their purchasing power and confidence in President Cristina Fernandez de Kirchner’s economic policies. Last month’s 19 percent devaluation of the peso, which drove up prices on products from cars to refrigerators, highlights Fernandez’s dilemma. If she adopts unpopular belt-tightening measures, she could face social unrest, said Mariel Fornoni, director of polling firm Management & Fit.
Mamita, así ven a la Argentina en los centros mundiales, pensar que los K se reían de la crisis en Europa, ahora se viene lo peor, si ir más lejos el aumento a los jubilados es el menor en años en medio de una brutal aceleración inflacionaria, el kritinismo tiene las hora contadas.