The plunge of the peso in Argentina triggers a financial crisis

Americas Now

Argentina’s economy has seen tumult in the past and is in turmoil once again.

A year ago the future looked bright for Argentina. President Mauricio Macri had helped the country dodge a recession and the stock market was booming.

But this year, as deep reforms were being implemented into the economy, fiscal disaster struck, and the nation has plunged into an economic crisis.

At the center of this financial storm is the beleaguered Argentine peso, and its relationship to the U.S. dollar.

It’s caused concern for consumers and business owners and, as Harris Whitbeck reports, it’s forced the government to take drastic action.