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Argentina’s peso plunges near 1,492 to the dollar despite U.S. aid, as austerity fuels unrest and debt fears grow.
Argentina’s peso nears 1,492 per dollar despite a $20 billion U.S. currency swap, with the currency down over 40% this year.
President Milei’s austerity reforms have reduced inflation and deficits but sparked public backlash and electoral losses.
U.S. support, including direct interventions and planned loans, has failed to restore market confidence.
Analysts warn of a 15%–30% further drop if Milei’s allies lose upcoming votes, while concerns grow over Argentina’s ability to repay $18 billion in debts, given its history of nine defaults since 1816.
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El peso argentino se desploma cerca de 1.492 por dólar a pesar de la ayuda estadounidense, ya que la austeridad alimenta los disturbios y los temores a la deuda crecen.