The Wrong Treatment for the Wrong Diagnosis

As time goes by the economy seems to be getting deeper into a hole: the government continues to be haunted by the record levels of the alternative exchange rates, the persistent drop in international reserves and the increase in the country risk as measured by the EMBI.  In the meantime, the sanitary situation is deteriorating rapidly as the number of cases increases and there are no signs yet that they have peaked, while the government maintains a long lockdown that delays the economic recovery.