Argentina's President Javier Milei implements spending cuts, fiscal reforms, and devalues peso, leading to budget surplus, lower inflation, and IMF loan assistance.
Argentina's President Javier Milei has implemented significant spending cuts and fiscal reforms, leading to a budget surplus for the first time since 2008 and a drop in monthly inflation rate. A $792m IMF loan will help repay debt as the country faces a crisis, while Milei's devaluation of the peso has caused a spike in prices of basic goods. Despite challenges, the IMF has observed progress in restoring macroeconomic stability under Milei's efforts.
May 13, 2024
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