Cry for Argentina. Further economic suffering is on its way, and that has implications for the Catholic teaching on the economy under native son Pope Francis.
The recent elections have brought the Peronists back to the presidency. Alberto Fernández won the elections on October 27, defeating the more pro-market Mauricio Macri. Peronists have a decades-long record of presiding over the economic decline of Argentina, to the point even of precipitous collapse.
The pain began less than 24 hours after the election, with the Argentine central bank restricting dollar purchases to only $200 a month, effectively locking Argentines into their rapidly devaluing currency.
