Argentina devalues its currency and cuts subsidies as part of shock economic measures

Argentina’s new president devalues peso, cuts spending

A worker counts money at a grocery store in Buenos Aires, Argentina, on Nov. 21, 2023. In the past five years, Argentina’s currency has lost about 90% of its value against the U.S. dollar.Natacha Pisarenko, Associated Press New Argentine President Javier Milei’s government has devalued the country’s currency and cut energy and transportation subsidies to deal with an economic emergency. The announcement came after Milei’s weekend inauguration. …

Why Argentina's shock measures may be the best hope for its ailing economy

The painful economic steps that Argentina’s new president, Javier Milei, announced this week sound draconian: Slashing the currency’s value in half. Reducing...

Argentina Devalues Currency by 50% as Part of Shock Economic Measures

In a televised message on Dec. 12, Argentina's economy minister, Luis Caputo, said that the country's peso will lose its value by 50%. Instead of 400 pesos amounting to one U.S. dollar, 800 pesos will now compare to one American dollar.

Argentina’s Milei announces first batch of class war measures dictated by the IMF

On Tuesday, Argentine Economy Minister Luis Caputo announced the first set of economic shock measures, which are supposed to set a new bar for attacks against living standards of workers everywhere.

Argentina reacts to Milei's 'shock' measures with steep price hike - La Prensa Latina Media

Natalia Kidd Buenos Aires, Dec 13 (EFE). – Argentina reacted on Wednesday to the first “shock” measures announced by the government of Javier Milei with calm in the alternative currency markets following the sudden 50% devaluation of the official exchange rate, and with steep price increases in supermarkets and gas stations. The new president of the Central Bank of the Argentine Republic, Santiago Bausili, met with local banking representatives …

Citi names 3 stock opportunities after Argentina devalued its currency by 50%

The U.S.-listed shares of two Argentine companies have run up by more than 40% since President Milei's election, on hopes of an economic turnaround.