300% inflation in Argentina leads to declining Paraguayan border town sales and economic instability.
Argentina's 300% inflation and a propped-up peso are causing Paraguayan border towns to decline, as cheaper Argentine imports become less affordable. Nanawa, once a thriving shopping destination, now has sales plummeting up to 80% due to increased prices for smuggled goods. This economic instability is also affecting Argentina's competitiveness in exports and tourism, as well as raising living expenses for Argentine residents.
May 27, 2024
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