The ridiculously troubled country with the world’s best-performing stock market
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It’s Argentina.
Yes, economically, the country is a mess. With dwindling foreign reserves and threadbare credit that prevents it from borrowing, Argentina has turned to devaluation to finance itself. The result is a nasty case of stagflation. GDP growth is just barely puttering forward. Private estimates of inflation hover around 40%, according to the Eurasia group. And yet, Argentina’s equity market—as measured by the Mercado de Valores de Buenos Aires, or Merval, has surged 77% this Read more [...]