RIO DE JANEIRO, BRAZIL - (Reuters) In Monserrat Casanovas’ small grocery store in downtown Buenos Aires, a hand-written sign reads “sale of imported drinks suspended,” highlighting the devaluation fears that are jamming up trade in the South American country.
This is a road that Argentina, no stranger to currency woes, has been down many times before. But it poses one of the biggest challenges yet to the year-old government of center-left President Alberto Fernandez.
Argentina desperately needs to increase trade flows. But they have been hindered by tough capital controls keeping the peso artificially strong, sparking fierce demand . . .