Argentina's "anything-but-Libertarian exchange controls..." IMF meets in BsAs

[LuckyLuke]

Meat consumption is at historically low levels ....

Just went to my usual local butcher this morning in Neuquen and was shocked at the prices.

Vacio $25,764 /kg
Costeleta $21,441 /kg
Patamuslo $3,277 /kg

These cuts were selling for $15,000 /kg just 4 month ago. Forget the supposed 5% monthly inflation. Carne selling for more than 8x chicken. They've now started vacuuming sealing cuts, I presume to make their unsold cuts last longer. It's no wonder consumption is so low.

 

[Redpossum]

Related to the original topic, we were told last week the cepo ends this year, but today while Milei was claiming his tirade in Davos was doctored (lol) he said the cepo ends next year. So which is it. because the BCRA is running on fumes and besides a devaulation that Caputo says will never happen, I'm not sure how they plan to meet dollar denominated maturities without another IMF loan.

Stop and think about what that means. They have to borrow money to make the payments on a loan.
How does that ever end well? Why would any lender in their right mind loan money for that purpose?