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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]
Inflation, Argentina's perpetual scourge and Milei's top priority upon coming to office, slowed from a monthly rate of 25.5% in December 2023 to just 2.7% in October — its lowest level in three ...
Milei wants the IMF — to which Argentina already owes a staggering $44 billion — to step in with a new loan to support his plans to remove capital controls, which cause major distortions in Argentina’s economy. But as uncertainty remains over the future of Milei's economic program, the IMF dampened expectations of a new deal on Thursday.
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 ...
Argentina wants to play a significant role in the global scenario." [6] Argentina did increase its international trade. Argentina is a member of the G20. The country is looking into the OECD to become an observer in the Pacific Alliance. At the beginning of 2019, economic growth slowed, producing forecasts of a recession.
Argentina's gross domestic product (GDP) is expected to have shrunk 1.5% year-on-year in the final quarter of 2023, the third straight annualized contraction, hit by declines in virtually all ...
The painful economic steps that Argentina's new president, Javier Milei, announced this week sound draconian: Slashing the currency's value in half. Inflation in Argentina has hit 161%. Its debts ...
Evolution of GDP growth. The economic history of Argentina is one of the most studied, owing to the "Argentine paradox". As a country, it had achieved advanced development in the early 20th century but experienced a reversal relative to other developed economies, which inspired an enormous wealth of literature and diverse analysis on the causes of this relative decline. [2]