History of Currency Argentine Economic Crisis

History of Currency Argentine Economic Crisis

The history of Argentina is volatile, and they have had a lot of economic crisis times over the last couple of decades. One of the issues that faces Argentina is they seem to have a coin shortage.

It has been so bad in many situations that storekeepers sometimes will not sell items if they have to give up some of their precious change. In different locations around Argentina cities are signs posted that say “No Hay Monedas”, meaning that they do not have or give out change.

This is a situation that is surprising for many tourists and outsiders, and a situation that is fairly hard to understand. The government produces more and more coins, and they accuse the citizens of Argentina of hoarding coins, which must be true to some extent.

The nation is gripped with a problem of keeping enough small coins in circulation, and the problem causes issues with everyday situations for its citizens. Chores such as doing laundry, purchasing items in stores with coins, and other everyday life situations are such that if it requires change or coinage then it may be a issue that is skipped because coins are not readily available.

Small shops often hand out candy instead of change, and big supermarkets will round off the sale in their favor to the nearest dollar amount. The coin shortage is such that the Government has declared it to be a minor crisis, and while they produce more and more coins, they simply cannot seem to produce enough to eradicate this crisis.

The Argentina government has in the past refused to increase its coin production, so this crisis has been building for some time. Now they are working hard to produce enough coins, but it is a case of too little far too late, and while they will likely eventually catch up, for now the entire nation is gripped with a severe coin money shortage.