"Argentina's Central Bank Cuts Interest Rate to 70% Amid Inflation Slowdown"

Argentina's surging inflation, reaching 288% in March, is threatening its tourism revenue as the country's once attractive cost of living diminishes due to a 54% currency devaluation and rising prices. This has led to a 50% drop in travel reservations from neighboring countries, impacting the country's tourism services deficit, which topped $1.2 billion last year. The devaluation has made goods in Argentina less of a bargain for foreigners, potentially widening the tourism services deficit and affecting the country's efforts to stabilize its economy and import essential goods.