Categories: World News

Argentina’s Milei Devalues Peso by 54% in First Batch of Shock Measures


Argentina devalued the peso by 54% and announced a swath of spending cuts as the first steps of President Javier Milei’s shock-therapy program, moves welcomed by the International Monetary Fund.

The newly inaugurated administration weakened the official exchange rate to 800 pesos per dollar, Economy Minister Luis Caputo said in a televised address after the close of local markets on Tuesday. It was 366.5 per dollar before the address.



Source link

Recent Posts

Small plane crashes into Brazilian city, killing all 10 people on board

CNN  —  A small plane has crashed into an urban center in the southern Brazilian city of Gramado, killing all… Read More

10 hours ago

Will the Christmas market attack divide Germans further over immigration? | Crime

German authorities say the suspect supports a right-wing party.German authorities say the psychiatrist accused of a ramming attack in Magdeburg… Read More

11 hours ago

China says US ‘playing with fire’ by giving Taiwan more military aid

Beijing calls on the US to stop ‘dangerous moves’ that ‘undermine peace and stability’ in the Taiwan Strait.China has warned… Read More

16 hours ago

Russia-Ukraine war: List of key events, day 1,032

Here are the key developments on the 1,032nd day of Russia’s invasion of Ukraine.Here is the situation on Sunday, December… Read More

23 hours ago

Inside the Final Days of the Assad Regime in Syria

As rebels advanced toward the Syrian capital of Damascus on Dec. 7, the staff in the hilltop Presidential Palace prepared… Read More

1 day ago

Is the US willing to take action against foreign powers fuelling Sudan war? | Sudan war

The conflict in Sudan has killed tens of thousands of people and displaced 12 million. US President Joe Biden is… Read More

1 day ago

This website uses cookies.