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When Javier Milei was elected to the office of president in December 2023, his main election promise was to initiate a libertarian recovery economic plan to mitigate the economic crisis and restore the Argentinean economy to normalcy. [23] In January 2024, after a series of economic shock measures were introduced, inflation reached a 32-year ...
Argentina's 2023 annual inflation was the highest in the world at 211.4%. [42] In January 2024, Argentina’s poverty rate reached 57.4%, the highest poverty rate in the country since 2004. [43] Because of Milei's policies, the monthly inflation rate dropped to 2.4% in December 2024, marking an end to Argentina's period of hyperinflation. [44]
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 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.
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 ...
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