Argentina's Economic Shock: Milei's Currency Devaluation Sparks Soaring Prices
Argentina's new "anarcho-capitalist" president, Javier Milei, has implemented a package of economic measures, including a 50% devaluation of the peso against the dollar, which has led to a rapid rise in prices of up to 100%. Economists warn that the situation is critical and requires a fiscal adjustment, while unions and social movements fear financial ruin for Argentines. The government's plan includes public spending cuts, tax increases, and a freeze on public works. The IMF supports the measures, but critics argue that they will exacerbate inflation and increase poverty levels. The opposition is awaiting details of the economic measures and legislative reforms promised by the government.
