Mailwatch(ed) Forum

President Javier Truss devalued the currency in order to tackle inflation. Is he making the Peso so worthless that people will only accept US Dollars?

BUENOS AIRES, Argentina (AP) — Argentina’s annual inflation soared to 211.4% in 2023, the highest rate in 32 years, according to figures released Thursday by the government’s INDEC statistics agency.

The data reflects the strong impact of a series of shock measures, including a 50% devaluation of the nation’s currency, implemented by right-wing President Javier Milei in hopes of eventually bringing the country’s roaring inflation under control. https://apnews.com/article/argentina-in ... 1aff80579f

Off to buy a packet of fags in Buenos Aires...

How's that libertarianism working out.

Buenos Aires rocked by clashes over Milei reforms

https://www.bbc.co.uk/news/articles/c255zdlde92o

Worth a gander for the photos.

Argentina's Senate has narrowly approved President Javier Milei's controversial economic reform package, with the vote taking place as violent clashes raged between protesters and riot police outside Congress.

Demonstrators in Buenos Aires - who say the measures will hurt millions of Argentines - threw petrol bombs and stones, setting cars alight.

A number of people were reported injured, with local media describing the scene on Wednesday as a "battlefield".

The reforms, aimed at reviving the country's flagging economy, include declaring a state of economic emergency, cutting pensions and watering down labour rights.

Mr Milei, a right-wing economist, was elected in the midst of a deep economic crisis which he is still struggling to stem after six months in office.

Annual inflation is currently close to 300%, while more than half of Argentines are now living in poverty.

Milei showed his international statesmanship shooting his mouth off at a populist headbangers conference in Spain. He managed to freeze diplomatic relations with Spain after calling the wife of the country’s PM a crook.

And Sanchez again did very well with Vox in the mud, I did find it odd Vox hosted that as they aren’t on the rise.