Post #151094

Argentina peso devalued over 50% as markets welcome Milei's 'tough pill' Argentina's government allowed the peso currency to plunge over 50% to 801 per dollar on Wednesday as markets cautiously welcomed the first details of President Javier Milei's plans to shock Argentina's beleaguered economy back on track. The libertarian president's administration swept to office with promises of drastic economic reforms to tackle negative net foreign currency reserves, entrenched capital controls, inflation racing towards 200% and years of economic stagnation. read more