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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.
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]
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.
BUENOS AIRES, Argentina (AP) — Poverty levels skyrocketed to 57.4% of Argentina's 46 million people in January, the highest rate in 20 years, according to a study by the Catholic University of ...
Economy Minister Luis Caputo was the one who announced the economic steps Tuesday. He said the Argentine peso will be devalued by 50%, to 800 to the U.S. dollar from 400 pesos to the dollar.
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 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 ...