Milei Implements Drastic Reforms in Argentina Amid Economic Crisis
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Argentina's new president, Javier Milei, has implemented drastic economic measures including a 50% currency devaluation and cuts to subsidies.
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The measures aim to address 143% inflation, trade and budget deficits, and debt obligations.
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Supporters say the shock therapy is necessary to stabilize the economy and avoid hyperinflation.
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Critics argue the cuts will hit vulnerable groups hard and spark protests.
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The IMF welcomed the measures as a "good foundation" for further economic discussions.