Argentina Takes Drastic Measures to Stabilize Economy After Shock Primary Election
TL;DR Summary
Argentina's central bank will raise the benchmark interest rate to 118% and devalue the peso to 350 pesos per dollar following a shock primary election that saw ultra-right libertarian Javier Milei take the lead. The country's economy is grappling with high inflation and dwindling central bank reserves.
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- Argentina devalues peso, raises rates after shock primary vote By Reuters Investing.com
- Argentina Devalues Peso, Hikes Rates in Bid to Curb Market Chaos After Milei Upset Yahoo Finance
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