Argentina: “Lack of credit dynamited deals”

Javier Grasso, commercial manager of Metalfor, one of the largest companies in Argentina, believes this summer’s drought was not the main cause of the sales bust in the country. For Grasso, the devaluation of the Argentinean peso starting in April generated higher interest rates and led to a lack of credit, is what caused declining sales. “Over 90% of the operations we do today involve credit and banks. Today, the financial system is not in…

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