Latin America: Argentina struggles whilst Venezuela finds itself in dire straits

Argentina’s 2016 GDP forecast has dipped from last month on the back of the July economic activity indicator’s -5.9% (y-o-y) decline. Production recorded similarly- sized contractions in July and August. Amid fiscal tightening and accelerating inflation, public discontent has swelled. Meanwhile, in Venezuela, the chronic lack of basic food and medicine is prompting hunger and illness. The government now appears to be allowing private shops to sell goods at their own prices in a bid to bring more badly-needed goods into circulation and alleviate shortages. However, with hyperinflation setting in, the situation for the majority of Venezuelans is extremely dire.

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