The interest rate is not high enough to beat inflation. Generally speaking the interest rate has to be at or slightly above the inflation rate minus the desired

The interest rate is not high enough to beat inflation. Generally speaking the interest rate has to be at or slightly above the inflation rate minus the desired inflation rate for the amount of time it takes for it to start coming down. Right now they are just chasing inflation rather that combating it. Chasing inflation will eventually lead to a currency collapse and a reissuing of the national currency. This has happened before. Too bad, Argentina has a fundamental problem that they have never addressed. That problem is what they need to fix. If they don't there will always be a never ending cycle of inflation and currency collapse. I don't know enough to know the problem but I suspect the problem is related to lack of independence of the central bank to protect the Argentinian peso. It's easier, at the moment, to issue more currency rather than to deal with whatever economic problem pops up. A central bank that's not independent will always do what's politically desired which always leads to currency issuing, therefore inflation. It's sad. The country has so much potential that they can not take advantage of due to the never ending economic problems.