Argentina devalues peso, cuts spending to overcome crisis
Mint Mumbai|December 14, 2023
Argentina will weaken its peso over 50% to 800 à per dollar, cut energy subsidies, and cancel tenders of public works, new economy minister Luis Caputo said on Tuesday, economic shock therapy aimed at fixing the country's worst crisis in decades.
Argentina devalues peso, cuts spending to overcome crisis

Caputo said the plan would be painful in the short-term but was needed to cut the fiscal deficit and bring down triple-digit inflation, as he unveiled a package of measures after libertarian President Javier Milei took office on Sunday.

"The objective is simply to avoid catastrophe and get the economy back on track," Caputo said in a recorded speech.

この記事は Mint Mumbai の December 14, 2023 版に掲載されています。

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