Wednesday, September 21, 2016 Foreign sector deficit keeps raising worriesArgentina is still struggling to balance cash inflows and outflows despite the recent devaluation, the latest report from the INDEC statistics bureau showed yesterday. The country posted a current account deficit of US$2.7 billion in the second quarter of 2016, the bureau said yesterday, with financial inflows — mostly debt — compensating for a net loss elsewhere. Overall, US$2.6 billion were wired abroad under different forms of return of investment, an amount very close to the overall current account deficit. The current account is the broadest measure of a country’s foreign transactions encompassing trade, services, and an array of financial flows, including interest payments. Now, even after stabilizing the macroeconomy we are depending on debt to keep the economy a float,” Castiñeira argued.

Source: Bueno Aires Herald September 21, 2016 01:30 UTC