this is STRONGMAN SHELFORD REPORTING LIVE FROM ARGENTINA.
OUR COUNTRY GOT CRAZY AND NOW THEY WANT TO TAKE INFLATION AND DEVALUATION DOWN. SO THEY ARE TAKING PESOS out of the market and forcing banks to buy a 70% interest rate central bank bond. they want to keep our exchange rate stable.
we secured money from the IMF and other entities. so our government will survive to next election , 2019.
The central bank will start daily auctions on Monday of notes known as Leliqs that will help determine its benchmark interest rate. Sandleris is dedicated to keeping rates at a minimum of 60 percent, the highest rate in the world. Selling the notes will allow the bank to absorb pesos in order to remove excess cash that often tends to weaken the currency. The measures are ultimately meant to rein in price increases.