FIRST AIRED: July 6, 2018

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

×

Transcript

00:00:01
>> Every week, hundreds of Argentinians gather at the San Miguel market at an abandoned train station located in a working class suburb of Buenos Aires. They are here with bags full of clothes, rice, flour, and sugar to trade. Many of the exchanges have already been arranged using Facebook groups, also known as barter clubs.
00:00:21
These groups with tens of thousands of members have popped up as Argentina's soaring inflation has created a black market for everyday goods.>> Can I ask for nappies? Can I ask for milk? It's amazing what goes on. Lately, what has been happening has been terrible, terrible, terrible. Imagine, before we used to have 100 requests per day to join the group.
00:00:44
But now there are way more.>>
FOREIGN]
or I change for merchandise, is one such Facebook bartering club, which has 30,000 members and 50 to 60 new people joining every day.>> It's outrageous that a professional like a police officer, a teacher, someone who studied to be a nurse, and they can't make ends meet with their wage.
00:01:08
And they need to come here and barter so they can save money on basic goods, and they can then pay electricity or rent, because rent is going through the roof.>> So how much do things trade for at these markets? Three packs of flour, which would hypothetically costs 90 pesos, can get you a pair of jeans.
00:01:25
For many, the bartering clubs are an unofficial indicator of a flailing economy. Argentina's inflation rate stands at 25%, unemployment is soaring at 9.1%, and the peso has lost more than 30% of its value this year. The currency's devaluation forced President Mauricio Macri to turn to the IMF for help in May.