Argentina Implements Emergency Economic Measures to Stabilize Economy
• Argentina devalues currency by 50% and cuts subsidies to address economic crisis • New libertarian President Milei says "shock" adjustments needed to deal with inflation, debts • Government cancelling public works projects, cutting some jobs to reduce spending • Energy and transportation subsidies being cut, but details not yet provided • IMF welcomes measures as "bold initial actions" to "stabilize the economy"