Argentina-Peso/Depreciation

Argentine Peso depreciation negatively impacts people's lives

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  • Français
  • Español

Shotlist


Buenos Aires, Argentina - Jan 19, 2019 (CCTV - No access Chinese mainland)
1. Houses, people on street
2. Various of local resident at home
3. SOUNDBITE (Spanish) local resident (full name not given):
"I don't switch on the air conditioner now because I don't want to pay extra electricity rates. In the past, when I would use air conditioners in summer, my monthly electricity bill never exceeded 900 pesos (24 U.S. dollars) in those years. However, my family's electricity bill reached 2,000 pesos (53 U.S. dollars) in Sept 2018, even though I work outside till late every day."
4. Electricity fee bill
5. Various of local resident at home
6. SOUNDBITE (Spanish) local resident (full name not given) (starting with shot 5):
"As the price of beef has increased, I started looking for alternative foods. Now I only eat beef twice a week, and I am used to eating chicken, vegetables, and soybean products at other times, because they are cheaper."
7. Various of price tags, commodities in supermarket
8. SOUNDBITE (Spanish) Matias Tombolini, economy consultant (ending with shot 9):
"If Argentina is focusing only on the present, without looking at the future, then the root of the problem will never be solved. Only when there is a clear plan can we solve the problem, and a clear direction is the most important. The same is true for the 2019 presidential election. The biggest challenge is to clarify the direction of Argentina in the future, which is what we are lacking now."

FILE: Buenos Aires, Argentina - Date Unknown (CCTV - No access Chinese mainland)
9. Various of people, stock exchange house
10. Various of Argentine central bank
11. Various of people, stock exchange house
12. Various of people in supermarket

Storyline


Argentina's domestic currency -- the peso -- fell more than 100 percent against the U.S. dollar in 2018, posing significant pressure on local people's lives.

Massera is a local resident who works in a private company in the capital city of Buenos Aires. Her cost of living increased significantly in 2018, especially in terms of some basic public service fees.

"I don't switch on the air conditioner now because I don't want to pay extra electricity rates. In the past, when I would use air conditioners in summer, my monthly electricity bill never exceeded 900 pesos (24 U.S. dollars) in those years. However, my family's electricity bill reached 2,000 pesos (53 U.S. dollars) in Sept 2018, even though I work outside till late every day," said Massera.

In addition to electricity bills, water, gas and public transport charges in 2018 have also risen sharply. Even beef, the most popular food on the Argentine diet, is also reduced in frequency due to price increases.

"As the price of beef has increased, I started looking for alternative foods. Now I only eat beef twice a week, and I am used to eating chicken, vegetables, and soybean products at other times, because they are cheaper," said Massera.

According to official data, Argentina's inflation rate reached 47.6 percent in 2018, the highest in 27 years. The main reason behind the high inflation is the sharp depreciation of the Argentine peso.

In order to curb the depreciation of the peso, in June 2018, Argentina reached a 50 billion U.S. dollar loan agreement with the International Monetary Fund (IMF). The IMF also proposed that Argentina reduce the government's fiscal deficit. To this end, the Argentine government has taken measures such as reducing the number of ministries, attaching additional taxes on export products, reducing public investment, and reducing some social benefits and subsidies.

"If Argentina is focusing only on the present, without looking at the future, then the root of the problem will never be solved. Only when there is a clear plan can we solve the problem, and a clear direction is the most important. The same is true for the 2019 presidential election. The biggest challenge is to clarify the direction of Argentina in the future, which is what we are lacking now," said Matias Tombolini, an economy consultant from the Buenos Aires government.

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  • ID : 8101166
  • Dateline : Jan 19, 2019/File
  • Location : Buenos Aires,Argentina
  • Category : economy, business and finance
  • Duration : 2'28
  • Audio Language : Spanish/Nats/Part Mute
  • Source : China Central Television (CCTV)
  • Restrictions : No access Chinese mainland
  • Published : 2019-01-20 15:38
  • Last Modified : 2019-01-21 10:45:00
  • Version : 1
  • ID : 8101166
  • Dateline : 19 janv. 2019/Archives
  • Location : Buenos Aires,Argentine
  • Category : economy, business and finance
  • Duration : 2'28
  • Audio Language : Espagnol/Nats/Partiellement muet
  • Source : China Central Television (CCTV)
  • Restrictions : Pas d’accès dans la partie continentale de Chine
  • Published : 2019-01-20 18:23
  • Last Modified : 2019-01-21 10:45:00
  • Version : 1
  • ID : 8101166
  • Dateline : 19 ene. 2019/Archivo
  • Location : Buenos Aires,Argentina
  • Category : economy, business and finance
  • Duration : 2'28
  • Audio Language : Español/Nats/Parte Muda
  • Source : China Central Television (CCTV)
  • Restrictions : No acceso a la parte continental de China
  • Published : 2019-01-20 18:51
  • Last Modified : 2019-01-21 10:45:00
  • Version : 1

Argentina-Peso/Depreciation

Argentine Peso depreciation negatively impacts people's lives

Dateline : Jan 19, 2019/File

Location : Buenos Aires,Argentina

Duration : 2'28

  • English
  • Français
  • Español


Buenos Aires, Argentina - Jan 19, 2019 (CCTV - No access Chinese mainland)
1. Houses, people on street
2. Various of local resident at home
3. SOUNDBITE (Spanish) local resident (full name not given):
"I don't switch on the air conditioner now because I don't want to pay extra electricity rates. In the past, when I would use air conditioners in summer, my monthly electricity bill never exceeded 900 pesos (24 U.S. dollars) in those years. However, my family's electricity bill reached 2,000 pesos (53 U.S. dollars) in Sept 2018, even though I work outside till late every day."
4. Electricity fee bill
5. Various of local resident at home
6. SOUNDBITE (Spanish) local resident (full name not given) (starting with shot 5):
"As the price of beef has increased, I started looking for alternative foods. Now I only eat beef twice a week, and I am used to eating chicken, vegetables, and soybean products at other times, because they are cheaper."
7. Various of price tags, commodities in supermarket
8. SOUNDBITE (Spanish) Matias Tombolini, economy consultant (ending with shot 9):
"If Argentina is focusing only on the present, without looking at the future, then the root of the problem will never be solved. Only when there is a clear plan can we solve the problem, and a clear direction is the most important. The same is true for the 2019 presidential election. The biggest challenge is to clarify the direction of Argentina in the future, which is what we are lacking now."

FILE: Buenos Aires, Argentina - Date Unknown (CCTV - No access Chinese mainland)
9. Various of people, stock exchange house
10. Various of Argentine central bank
11. Various of people, stock exchange house
12. Various of people in supermarket


Argentina's domestic currency -- the peso -- fell more than 100 percent against the U.S. dollar in 2018, posing significant pressure on local people's lives.

Massera is a local resident who works in a private company in the capital city of Buenos Aires. Her cost of living increased significantly in 2018, especially in terms of some basic public service fees.

"I don't switch on the air conditioner now because I don't want to pay extra electricity rates. In the past, when I would use air conditioners in summer, my monthly electricity bill never exceeded 900 pesos (24 U.S. dollars) in those years. However, my family's electricity bill reached 2,000 pesos (53 U.S. dollars) in Sept 2018, even though I work outside till late every day," said Massera.

In addition to electricity bills, water, gas and public transport charges in 2018 have also risen sharply. Even beef, the most popular food on the Argentine diet, is also reduced in frequency due to price increases.

"As the price of beef has increased, I started looking for alternative foods. Now I only eat beef twice a week, and I am used to eating chicken, vegetables, and soybean products at other times, because they are cheaper," said Massera.

According to official data, Argentina's inflation rate reached 47.6 percent in 2018, the highest in 27 years. The main reason behind the high inflation is the sharp depreciation of the Argentine peso.

In order to curb the depreciation of the peso, in June 2018, Argentina reached a 50 billion U.S. dollar loan agreement with the International Monetary Fund (IMF). The IMF also proposed that Argentina reduce the government's fiscal deficit. To this end, the Argentine government has taken measures such as reducing the number of ministries, attaching additional taxes on export products, reducing public investment, and reducing some social benefits and subsidies.

"If Argentina is focusing only on the present, without looking at the future, then the root of the problem will never be solved. Only when there is a clear plan can we solve the problem, and a clear direction is the most important. The same is true for the 2019 presidential election. The biggest challenge is to clarify the direction of Argentina in the future, which is what we are lacking now," said Matias Tombolini, an economy consultant from the Buenos Aires government.

ID : 8101166

Published : 2019-01-20 15:38

Last Modified : 2019-01-21 10:45:00

Source : China Central Television (CCTV)

Restrictions : No access Chinese mainland

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