IKN

Take physic, pomp

A bit of Keynes in Argentina

Early reports about the economic stimulus package introduced by the Klishtina gov’t are pretty encouraging. Part of the plan to offer fridge-freezers at ArgP$1,440 (about U$420) with no-interest/low-interest easy ways to pay has been reported as a success by those outlets participating. Big Argentine whitegoods retailer Fravega earmarked 500 units for sale under the plan and sold the lot in under a week. Brisk sales have also been reported from Fravega’s competitors. In general terms, sales are reported at end 2007 levels, which sounds pretty solid to me.

What with this electrodomestics front and the gov’t plan to offer easy payment plans on the key new car sector now underway, Argentina is not sitting on it hands and waiting for the crisis to wash over the country tsunami-style. But of course, these measures aren’t the way the experts up North advise as best, so don’t expect any praise aimed at Argentina from the people who actually caused this mess in the first place.

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