Bank notes and coins continue to dry up in
Argentina’s capital as its cash problems show no signs of
slowing.
The coin shortage that has gripped Buenos
Aires since 2008 has been dubbed one of the most ‘peculiar’
economic crises in recent history by US newspaper The New
Yorker but the attention is now turning to bank notes, or
rather the lack of them.
Go deeper with GlobalData
Local reports have claimed many consumers are
suffering from a decrease in the number of bank notes being
dispensed at cash machines across the city – a problem the
Argentinean Central Bank (Banco Central de la República Argentina)
has blamed on local technological problems.
“The Central Bank has promised to try to bring
in as many printed notes as possible by next week, and around
ARS10,000 ($2,500) have been requested,” said Argentinean
newspaper, The Buenos Aires Herald.
“The shortage has been put down to possible
local technological problems, and Central Bank not wanting to
distribute large quantities of cash to local banks.”
The shortage is believed to have started at
the end of 2010 with Provincial banks the most affected. Over 400
people have been forced to collect wages through the Provincial
Government due to the cash freeze.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
