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Argentina will devalue the peso by more than 50% as part of emergency measures to help the nation’s struggling economy, the country’s Economy Minister Luis Caputo announced Tuesday.
Decree 70/2023, titled "Bases for the reconstruction of the Argentine economy" (Spanish: Bases para la reconstrucción de la economía argentina) was signed on 20 December 2023, by the Argentine president Javier Milei. It is known in the media as the "Megadecreto" ("Mega-decree") or "decretazo" for its large scope.
Argentina on Tuesday announced a sharp devaluation of its currency and cuts to energy and transportation subsidies as part of shock measures new President Javier Milei says are needed to deal with ...
The main union force in Argentina, the General Confederation of Labor, criticized the measures, saying they will mainly hurt regular people and not the political “caste” that Milei promised to ...
27 December: Thousands of union members and activists in Argentina protest a decree from President Javier Milei imposing deregulation and austerity measures meant to revive the country's economy. [13] 29 December: Argentine president Javier Milei sends a letter to BRICS, rejecting the bloc's invitation for Argentina to join. [14]
Since the late 2010s, prolonged inflation remained a constant problem of economy of Argentina, with an annual rate of 25% in 2017, second only to Venezuela in South America and the highest in the G20. On December 28, the Central Bank of Argentina together with the Treasury announced a change of the inflation target. [11]
The economy of Argentina is the second-largest national economy in South America, behind Brazil. Argentina has a human Development Index classified as "very high" by the United Nations, with a highly literate population, an export-oriented agricultural sector, and a diversified industrial base. Argentina benefits from rich natural resources ...
Argentina's economy is essentially composed of competitive raw materials and services, so Lázzari, both economist and businessman, believes growth could really take off if the government can do ...