New government of Argentina devalues peso by more than 50%
As part of a package of large-scale spending cuts, Argentina has devalued its currency by more than 50% . This is intended to address the country’s worst economic crisis in decades. The plans, introduced under the newly inaugurated administration of Javier Milei, include cutting energy subsidies and cancelling tenders for public works.
Economy minister Luis Caputo has moved to
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