Argentina's 'Shock' Devaluation: Anarcho-Capitalist President Slashes Peso by 54%
Argentina has devalued its currency by over 50% and implemented "shock" measures, including cuts to state subsidies and a halt to new public construction projects, in an effort to revive its struggling economy and combat triple-digit inflation. The government aims to address the root causes of recurrent economic crises, debt, inflation, and fiscal deficits to avoid hyperinflation. The International Monetary Fund (IMF) has welcomed the measures, which aim to improve public finances while protecting the most vulnerable. However, analysts warn that the devaluation will have significant impacts on inflation, and the situation is expected to worsen before it gets better.