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Google Unable To Keep Paying App Developers In Argentina
An anonymous reader writes "Google has sent letters to app developers registered in Argentina saying they won't be able to accept payments on developers' behalf after June 27th. 'The change applies to both paid apps and apps that use in-app purchases. The move appears to be related to new, restrictive regulations the Argentine government has imposed on currency exchanges.' According to the Telegraph, 'The new regulations required anyone wanting to change Argentine pesos into another currency to submit an online request for permission to AFIP, the Argentine equivalent of HM Revenue & Customs. To submit the request, however, you first needed to get a PIN from AFIP, either online or in person. Having finally obtained your number, submitted your online request and printed out your permission slip, you could then present it at the bank or official cambio and buy your dollars. Well, that was the theory. In practice, the result was chaos. ... damming the flood has come at a huge cost to the economy, especially since the currency restrictions were coupled with another set of regulations that effectively imposed a near-total ban on any imported goods.'"
It is even worse in Venezuela,
The government printed money like crazy which caused really high inflation. So how does the government fight inflation? they add price control, which causes scarcity, and currency control which kills imports. Here is a video showing people that got wind that there was corn meal, chicken and some other products in a supermarket
Corrected version of above:
Argentina is likely the right place to look at when you want to see the results of a government being more involved instead of less. Shocked by the Great Depression, like many other countries Argentina turned to a strongman. Once in power, Peron did a deep change to the country, and Argentina swiftly fell from being one of the wealthiest countries in the world to a basket case. Now, instead of being as rich per capita as the US or Switzerland (like it was in the 1920s), it's in the same economic class as Russia and Botswana.
Despite this abject failure, the media can't point this out, because people will label them as traitors. It's extremely hard for Argentinians to be entrepreneurs in this context of unremediated Peronism, which has wrecked the Argentine economy.