The China Mail - World Cup run temporarily masks Argentina's inflation misery

USD -
AED 3.672985
AFN 65.000215
ALL 80.742224
AMD 360.120146
ANG 1.789785
AOA 918.000259
ARS 1547.504298
AUD 1.425618
AWG 1.8025
AZN 1.704639
BAM 1.737338
BBD 2.013458
BDT 124.459802
BGN 1.747831
BHD 0.377436
BIF 2986.973187
BMD 1
BND 1.277909
BOB 12.120755
BRL 5.462498
BSD 0.999711
BTN 94.558763
BWP 13.724402
BYN 2.982914
BYR 19600
BZD 2.010562
CAD 1.396435
CDF 2312.495179
CHF 0.81689
CLF 0.024512
CLP 964.730095
CNY 6.680898
CNH 6.67278
COP 3233.55
CRC 454.091218
CUC 1
CUP 23.992112
CVE 97.94847
CZK 21.59735
DJF 177.720509
DKK 6.651604
DOP 60.031357
DZD 135.94453
EGP 54.718599
ERN 15
ETB 164.071845
EUR 0.88991
FJD 2.24175
FKP 0.745268
GBP 0.742315
GEL 2.602348
GGP 0.745268
GHS 11.631305
GIP 0.745268
GMD 73.999777
GNF 8855.000423
GTQ 7.639521
GYD 209.448686
HKD 7.845385
HNL 26.868429
HRK 6.76901
HTG 130.971046
HUF 322.277998
IDR 18097.15
ILS 3.153897
IMP 0.745268
INR 94.33125
IQD 1515.529716
IRR 1883408.502283
ISK 121.570181
JEP 0.745268
JMD 158.455068
JOD 0.709023
JPY 158.307502
KES 129.890478
KGS 87.449951
KHR 4064.827605
KMF 440.99974
KPW 899.999961
KRW 1340.964971
KWD 0.31079
KYD 0.833041
KZT 451.807175
LAK 22506.673299
LBP 89519.744527
LKR 332.641939
LRD 169.939285
LSL 16.455617
LTL 2.95274
LVL 0.60489
LYD 6.409977
MAD 9.765444
MDL 17.929301
MGA 4515.192027
MKD 54.842921
MMK 2099.52083
MNT 3598.087189
MOP 8.077598
MRU 40.663904
MUR 47.090153
MVR 15.454969
MWK 1733.399066
MXN 18.56657
MYR 4.063499
MZN 63.910116
NAD 16.455325
NGN 1346.419798
NIO 36.784529
NOK 9.301655
NPR 151.29402
NZD 1.77669
OMR 0.384505
PAB 0.999773
PEN 3.450426
PGK 4.485918
PHP 63.245999
PKR 276.534117
PLN 3.901551
PYG 6061.763543
QAR 3.644609
RON 4.753401
RSD 104.687977
RUB 81.79709
RWF 1471.012787
SAR 3.756339
SBD 8.051718
SCR 13.900191
SDG 601.494218
SEK 9.72677
SGD 1.278485
SHP 0.745545
SLE 22.909904
SLL 20969.504398
SOS 571.349894
SRD 37.563995
STD 20697.981008
STN 21.763752
SVC 8.747096
SYP 13001.999685
SZL 16.44674
THB 33.583963
TJS 9.221818
TMT 3.51
TND 2.979449
TOP 2.40776
TRY 50.019702
TTD 6.776725
TWD 32.844598
TZS 2649.99802
UAH 45.52523
UGX 4104.021853
UYU 40.19489
UZS 11886.139647
VES 890.036598
VND 25704.5
VUV 119.472328
WST 2.779309
XAF 583.742545
XAG 0.019088
XAU 0.000245834942
XCD 2.70255
XCG 1.801579
XDR 0.707052
XOF 583.742545
XPF 105.938734
YER 236.174953
ZAR 16.396098
ZMK 9001.19797
ZMW 20.274394
ZWL 321.999592
SSP 5745.96484
MXV 2.089881
  • RYCEF

    0.4000

    19.71

    +2.03%

  • CMSC

    0.0000

    20.4

    0%

  • BTI

    0.4200

    56.05

    +0.75%

  • BP

    0.2800

    44.43

    +0.63%

  • RBGPF

    1.6000

    67

    +2.39%

  • RIO

    -0.1500

    94.41

    -0.16%

  • AZN

    -0.4300

    166.15

    -0.26%

  • GSK

    0.4600

    49.7

    +0.93%

  • BCE

    -0.4100

    20.56

    -1.99%

  • NGG

    -0.2500

    75.24

    -0.33%

  • VOD

    -0.0400

    16.58

    -0.24%

  • RELX

    -0.4500

    33.07

    -1.36%

  • BCC

    -0.5500

    76.59

    -0.72%

  • CMSD

    -0.0300

    20.27

    -0.15%

  • JRI

    -0.2500

    10.77

    -2.32%

World Cup run temporarily masks Argentina's inflation misery
World Cup run temporarily masks Argentina's inflation misery / Photo: © AFP/File

World Cup run temporarily masks Argentina's inflation misery

Argentina's economy may be sinking but the entire country is buoyant, basking in the elation of its football team led by iconic captain Lionel Messi reaching the World Cup final.

Text size:

The dream of landing Argentina's third world title, 36 years after the last one, seems -- at least for now -- to have let Argentines forget their woes.

That number three seems significant today, and not just because Messi and his teammates seek to put a third championship star on the team's blue and white jersey.

Sporting glory arrives at a time when many people believe the inflation that has wreaked havoc on the South American nation's economy will reach a barely believable triple digits for 2022.

Last Thursday, the INDEC statistics institute published the price index for November, around six percent, suggesting inflation, which already stood at 88 percent over the last 12 months, is not decelerating.

Argentina has had double-figure inflation for decades.

But there is a genuine feeling that soccer success -- and that Messi magic -- can alleviate the pain of millions in a country where the poverty level is over 40 percent.

Before the tournament in Qatar began, Argentina's Labor Minister Kelly Olmos was even asked whether lowering inflation was more important than winning the World Cup.

"We must constantly work against inflation, but one month won't make a huge difference," she said.

"On the other hand, from a morale point of view, given what it means for all Argentines, we want Argentina to be champions," Olmos added. "The Argentine people really deserve some joy."

Predictably, that provoked a barrage of criticism.

- 'A relief' -

And yet Argentines crowd around television screens in droves to watch the team's matches, whether in bars, homes, even a Buenos Aires 'fan zone.'

Most of these fans could never dream of affording a ticket to Qatar in a country where the average wage is a meagre 66,500 pesos ($390).

"People are well aware of the problems" but football and the economic situation "are on parallel paths, they don't meet," Lucrecia Presdiger, a 38-year-old hospital worker, told AFP after Argentina's quarter-final victory over the Netherlands.

"Many people really need this joy and are making the most of it. But they don't take it literally, they know it's only football, they are perfectly aware of the problems," Presdiger said, adding: "You shouldn't take them for fools."

For designer Tony Molfese, an Argentina triumph would be "a relief, a breath of fresh air, a joy, even momentary -- and we deserve it."

Olmos drew parallels with Argentina's first World Cup success in 1978, when the country was run by a military dictatorship.

"We were under dictatorship, persecuted, we didn't know what tomorrow held, but Argentina became champions and we went out to celebrate in the streets," she recalled.

"And then we went back to the reality, which was unrelenting."

- 'Transient and eternal' -

Despite the great passions football inspires, it remains just a game, according to writer Ariel Scher.

"Football bestows individual and collective joy, but that joy is transient, it doesn't eliminate the other problems of existence," Scher, a university lecturer and football specialist, told AFP.

"It's like when our child passes an exam: we're delighted but that doesn't pay the bills."

The power of football is that "it gives us the possibility of a happiness that is both transient and eternal," added Scher.

"No problems will be resolved or eliminated but at the same time, even briefly, it dazzles us with something that leaves a lasting memory."

In a November poll, more than three quarters of Argentines said the country's fortunes at the World Cup would have an effect on people's morale.

Some 32 percent even said they thought the result would affect the next presidential election in 10 months time.

Political scientist Raul Aragon scoffed at such an idea.

Regardless of what happens in Sunday's final "the social mood will return to what it was before. And no political force could capitalise on any eventual victory."

H.Ng--ThChM