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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.
Argentina's annual inflation rate fell to 117.8 percent in 2024, marking a significant drop of 93.6 points compared to the record 211.4 percent inflation rate of 2023. The sharp decline signals a ...
BUENOS AIRES (Reuters) -Argentina will weaken its peso over 50% to 800 per dollar, cut energy subsidies, and cancel tenders of public works, new Economy Minister Luis Caputo said on Tuesday ...
Argentina's public universities will hold a massive demonstration on Wednesday, backed by unions and opposition parties, to protest sharp public spending cuts implemented by President Javier Milei.
BUENOS AIRES (Reuters) -Argentine libertarian President Javier Milei on Wednesday signed a decree outlining economic reforms including an end to limits on exports plus measures to loosen ...
The economy of Argentina is the second-largest national economy in South America, behind Brazil. Argentina is a developing country with a highly literate population, an export-oriented agricultural sector, and a diversified industrial base. Argentina benefits from rich natural resources. However, its economic performance has historically been ...
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.
One of president Macri's first economic policies was the removal of currency controls, allowing Argentines to freely buy and sell foreign currencies in the market. [4] [5] Another early policy was the removal of export quotas and tariffs on corn and wheat. [6] Import tariffs on soybeans, Argentina's most lucrative export, were reduced from 35 ...