Capital Flight Fell to $1.61B in Q1

[GS_Dirtboy]

Capital flight, defined as "the formation of assets abroad by the non-financial sector," fell from $3.64B in Q4 2011 to $1.61B in Q1 2012 according to the central bank.

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There are a lot of people who will argue that CFK didn't have much choice but to impose currency controls to stop the errosion of central bank reserves. If you have foreign direct investment (FDI) in Argentina how do you effectively manage this risk? Do you see an upside?

 

[El chabon]

Surely, must be the same one who calculates the growth figures of Argentina

 

[nicoenarg]

I might comment on how this is just a short-term fix and blah blah blah but I also read that inflation was under control because of Cristina's efforts at a beautiful 9%. I don't really care for numbers released by Argentina anymore.

 

[El chabon]

I might comment on how this is just a short-term fix and blah blah blah but I also read that inflation was under control because of Cristina's efforts at a beautiful 9%. I don't really care for numbers released by Argentina anymore.

Took you about 4 years to realize though

 

[nicoenarg]

Took you about 4 years to realize though

Huh?

I have been here 4 months and took me about half a day to realize that.

 

[El chabon]

Huh?

I have been here 4 months and took me about half a day to realize that.

Has been going on for like 4 years

 

[nicoenarg]

Has been going on for like 4 years

I was concerned with another dictatorship in another country for those 4 years.

 

[earlyretirement]

You simply can't trust ANY numbers coming from the government or any governmental agency or body in Argentina. They are all bogus. Even when people want to publish accurate figures, CKF's regime threatens to put them in prison.

 

[trennod]

Anyone seen any private estimates for capital flight?

 

[El chabon]

I don't think that anybody can predict in a accurate way how much people get there money illegal out of the country, but it must have been going up quite a big.

People convert savings in Dollars/euro's and stash them somewhere instead of spending is technically not capital flight, but it's not spend in Argentina