If you love tango, and I do, you know that the lyrics are always about heartbreak and disillusionment. I’m sure that there is a happy tango out there, but the ones I’m familiar with are always sad songs. As my friend from Buenos Aires told me yesterday, that the inflation is one sad tango playing 24/7.
Let’s check what’s happening down there:
In times like these in Argentina, prices are one thing you cannot guarantee.
Ask Diego Barrera and Claudio Cayeta, who own a small aluminum and glass shop in the Buenos Aires neighbourhood of Palermo. The business partners spent two weeks last month navigating a virtual paralysis because of the volatile economic situation gripping the country, unable to source the material they needed, and as a result unable to quote prices to their customers.
“Our providers won’t give us anything because the [United States] dollar goes up every day, so they don’t want to lose money,” said Barrera, 43, whose stock has dwindled as the uncertainty around them climbs.
“I understand because the same thing happens to me,” he said. “I’ve already lost money on the prices that I quoted some of my customers.”