|Subject: About Argentina|
Hello Graziella and Candice!
As you say, Argentina is a beautiful country.
By the end of 2001 a financial/political crisis burst, and our currency
was devalued. Many people find it hard to understand how come
devaluation affected us so much.
Just think that for around ten years, the exchange rate between peso and
US dollar was 1 to 1, so Argentina was an expensive country for tourists
and when we travelled to the States, for instance, prices were more or
less the same as here.
During those ten years, it was more convenient for the companies to
import products than to have them manufactured in the country.
Conclusion: the local industry almost disappeared and it was the time of
With devaluation, it become impossible to buy products from abroad, but
the problem was that we didnīt have a local industry that could start
manufacturing all the goods we had been importing so far. So prices
soared.... everything become more expensive... but salaries remained the
The current exchange rate is AR3.2 = $1.00 and it fluctuates every day. Just to five you an idea, the price of cooking oil before devaluation was AR1.20 , now itīs over AR 3.00 . If you think that a person keeps on earning the same amount every month, you will see that heīs in trouble.
But Argentinians always keep a positive attitude and we seem to find a way to get over hard times.
The unemployment rate is very hight and yes, the situation in Argentina FOR LOCAL PEOPLE is not good. For those who work in the tourism industry, things are better, because now Argentina is a bargain so people from all over the world are coming. Some prices are more expensive for non residents: most of hotel accommodation and domestic airfares, but the rest is VERY cheap, especially the food.
Lots of people come and consider relocating here and there are many foreigners interested in real estate too.
But apart from money issues, the country is a gem and if youīve already been here, then you know what Iīm talking about.
Visit Argentina! Cintia