Loading ...In the 1970’s I was employed by Atomic Energy of Canada , Limited – a Crown Corporation (government owned). Two power CANDU nukes were sold to Argentina , payable in C$ , but with a 30% inflation cap in the Peso/C$ exchange rate . This was before Volcker and runaway global inflation . Before the plants were generating electricity , the devaluation of the Peso meant that the Canadian taxpayer was on the hook for the gift of two plants . The CEO of AECL was retiring , the incoming CEO , an engineer , became the ‘Schnoom’ (sacrificial lamb) and was fired for the sins of others within months of taking over , and the Argentinians (Peronistas by philosophy) won .
I have deep distrust of any Argentinian deals .