Posts Tagged ‘Devalues’
Argentina Slashes Subsidies And Devalues Peso By 50% As Milei’s Austerity Plan Takes Shape
The administration of newly-inaugurated Argentine President Javier Milei introduced its first set of austerity measures this week, as South America’s second largest economy attempts to pull itself out of an ongoing financial crisis defined by persistent inflation and a scarcity of foreign currency. The new government will reportedly cut public spending equal to 2.9% of…
Read MoreArgentina Devalues Peso After Shock Primary Election Result
The Banco Nacion state bank showed the peso trading at 365.50 to the dollar, up from 298.50 on Friday AFP Argentine monetary authorities on Monday devalued the peso by around 20 percent as the country reeled from the strong showing of far-right politician Javier Milei in a presidential primary election. In a unique election format,…
Read MoreArgentina Devalues Peso After Shock Primary Election Result
The Banco Nacion state bank showed the peso trading at 365.50 to the dollar, up from 298.50 on Friday AFP Argentine monetary authorities on Monday devalued the peso by around 20 percent as the country reeled from the strong showing of far-right politician Javier Milei in a presidential primary election. In a unique election format,…
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