### Summary
Inflation in Argentina has reached 113%, pushing 40% of the population into poverty, as the country faces an economic collapse that could see the far-right return to power under Javier Milei, a rock-singing former sex coach who has threatened to abolish the central bank.
### Facts
- 💸 Argentina is experiencing an economic collapse with annual inflation reaching 113%, its highest in over 30 years.
- 💰 Inflation has pushed 40% of the population into poverty as soaring prices outpace wages.
- 📉 The crisis escalated when the central bank raised interest rates to 118% to halt a sell-off in government bonds and the Argentine peso, which hit a record low against the dollar.
- ⬇️ Inflationary pressures forced officials to devalue the peso by 18% on Monday, which some economists believe may fuel further inflation, possibly reaching 150%.
- 🏛️ The far-right, led by Javier Milei, a rock-singing former sex coach, has gained popularity and threatens to abolish the central bank if they come to power.
- 🌎 This serves as a stark contrast to the inflation battle faced by the Bank of England, where inflation stands at 6.8% and interest rates have been raised to 5.25%.
Argentina is experiencing an economic collapse with annual inflation reaching 113%, pushing 40% of the population into poverty, and potentially leading to the return of the far-right under Javier Milei.
Argentina should focus on fiscal spending cuts and a recession rather than adopting the dollar as its currency to address the recent peso crash, according to an economist.
Argentina should consider pegging its currency to Brazil's real instead of the US dollar, as it would help address economic problems such as exchange-rate instability and hyperinflation, according to an economist.
Mexico's peso rose against the dollar after central bank minutes and inflation data indicated that interest rates would remain on hold for longer, while the BRICS group invited Argentina and five other countries to join the bloc.
Latin American currencies are under pressure from a strong dollar as traders await remarks from Federal Reserve Chair Jerome Powell on U.S. interest rates, while the Chilean peso reaches a three-week high; meanwhile, Argentina stocks are seen as a "safeguard of value" amid economic turmoil, but the country faces opposition to joining the BRICS bloc.
Argentina is facing the highest triple-digit inflation in over three decades, potentially reaching near 200% by year-end, which is causing increased poverty, anger among voters, and memories of past economic crises.
Argentina should avoid dollarizing its currency and learn from Ecuador's experience, as it could lead to a prolonged period of economic weakness, according to economist Robin Brooks.
Argentines face daily challenges in trying to find deals and lower prices as the country's inflation skyrockets above 100%, leading to a cost-of-living crisis and increased poverty levels.
Argentina is facing skyrocketing inflation, with consumer prices soaring by 12.4 percent in August and an annual inflation rate of 124.4 percent, putting the ruling coalition on the defensive ahead of the upcoming presidential race.
Argentina and the International Monetary Fund (IMF) face challenges as the country enters a recession, misses economic targets, and struggles with inflation, prompting calls for stricter conditions and deeper structural reforms from the IMF.
Uruguay's central bank governor, Diego Labat, has seen his country's economy detach from its larger neighbor, Argentina, as inflation remains low and the currency remains strong, contrasting sharply with the economic troubles across the border. Labat attributes this shift to strong institutions and political stability in Uruguay, as well as a decrease in economic reliance on Argentina.
Argentina is facing a currency crisis and high levels of inflation, but the annual Mundial de Tango competition continues to take place amidst the economic chaos.
Inflation in Argentina has caused poverty levels to rise, with 40.1% of Argentines living in poverty, and the country is heading towards its sixth recession in a decade, leading to increasing despair ahead of the upcoming election.
Argentina is facing a presidential election amid an economic crisis marked by soaring inflation, recession, and a high poverty rate, with leading candidates divided over how to address these issues, including a suggestion to dollarize the economy.
The handwritten notebooks of a Buenos Aires barber chronicle the devastating impact of Argentina's 19,900% inflation over several decades, with current President Alberto Fernandez overseeing the fastest price rises in the past 30 years, driving up poverty rates and causing a decline in purchasing power.
The notebooks of a Buenos Aires barber chronicle 19,900% inflation in Argentina over three decades, with current President Alberto Fernandez experiencing the fastest price rises of any administration, creating a cost of living crisis and driving voters towards a right-wing radical.
Argentina's peso hits a historic low of 1000 pesos per US dollar on the black market as the country's inflation remains high and uncertainty ahead of the presidential elections increases demand for hard currency.
Argentina's central bank has raised its key rate for the sixth time this year to 133% in an attempt to control inflation, which has surged above 100% ahead of the presidential election; however, economists believe the rate hike will have little impact as it is coupled with money printing and falls below inflation in real terms.
Argentina's central bank raised the country's benchmark interest rate to 133% from 118% due to worse-than-expected inflation data, exacerbating the economic crisis ahead of the upcoming presidential elections.
Argentina's central bank has raised the benchmark interest rate to 133% as inflation data shows a higher-than-expected increase, exacerbating the country's economic crisis ahead of the upcoming presidential elections.
