Business
Argentina Devalues Peso 54% in Bid to Eliminate Deficit
Argentina devalued the peso by 54%, weakening the official exchange rate to 800 pesos per dollar, and announced massive spending cuts to eliminate its primary fiscal deficit next year as the first steps in President Javier Milei’s shock-therapy program. Bloomberg Economics’ Ziad Daoud has the details.
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@Qingeaton
December 18, 2023 at 12:44 pm
So what can we buy from them to help their economy grow and get a good deal for ourselves at the same time?
@user-yg1zp8uk4d
December 18, 2023 at 12:44 pm
Did they just become nigeria
@tomaspodesta6201
December 18, 2023 at 12:44 pm
In four years we had 1000% in that time, so we are used to it
@DK-fp7hc
December 18, 2023 at 12:44 pm
What is with the skunk hairdo ?
@milky55
December 18, 2023 at 12:44 pm
So i go buy property now.. ok good thanks!
@reubenj.cogburn8546
December 18, 2023 at 12:44 pm
Hey, just a quick check
When was the last time Argentina had their s
** together?
Like, chaos is not the norm…
Please
@thanoskingping
December 18, 2023 at 12:44 pm
What happen to the 42million they won in the world cup 🧐
@BBme
December 18, 2023 at 12:44 pm
He is another liar, didnt fulfill his promises. He spents multi millions dollars to employ US bankers while slashing his people off. Yes, he said the people to suffer another 50 months.
@emarquez70
December 18, 2023 at 12:44 pm
So, you too don't know how to make percentages, if it was at 336 and now 800, that's more than 100%, not 50. Fix your calculator. And you call yourself a financial publication
@jonyD143
December 18, 2023 at 12:44 pm
Any experts who want to clarify? So what I'm taking from this is that Milei is converting the currency exchanges from a government controlled exchange to a market based exchange (FX)? And he's slashing unnecessary government departments to reduce cost and raising taxes to pay for U.S dollar deficits?
@Salrous
December 18, 2023 at 12:44 pm
This will work only if they stop pricing exports and imports in the U.S. dollars and use their own currency.
Else it will not work and the currency will fall after a while, learn from Egypt mistake and China’s success
@reubenj.cogburn8546
December 18, 2023 at 12:44 pm
It's not a devaluation
It's Argentina
@aaronliberty2006
December 18, 2023 at 12:44 pm
Milei immediately reversed his promise to withdraw from the Paris Climate Accord, Argentinians are screwed with this liar.
@BadCompany-np3yd
December 18, 2023 at 12:44 pm
This new crook will put the people in Argentina in the poor house again while making the welfare billionaire's and millionaire's richer and they don't pay any taxes.
He a criminal thug trump republican.
@bigron8346
December 18, 2023 at 12:44 pm
It's a skunk!
@Georgggg
December 18, 2023 at 12:44 pm
There is 3 rates in Argertina due to government regulation on "speculation".
Milei just removes it to fix white-black currency market dualism.
@oxanapak4966
December 18, 2023 at 12:44 pm
You know what is going to happen to Argentina in the near future? Poverty, crime, misery. Same devaluation happened in Russia and the country turned into a criminal sh..t in 90s last century. They will now rob Argentina's resources like there is no tomorrow. Because they became 54 % chipper. People are so damn to realize that simple thing. Do you think Milei comes to power to safe you? LOL
@walterbenjamin9681
December 18, 2023 at 12:44 pm
Look at how it's not welfare that's sinking Argentina! It's the giant drain. 90% of the profits of Argentina's wealthy leave the country and go to tax havens. It's a cash economy that's squeezing the country dry. In France, 200 billion euros leave the country every year through legal and illegal tax optimization and evasion techniques. That's 10% of the wealth produced in France every year.
In the EU, a staggering 1,000 billion is stolen from European states. And you've got the Pen or the Right screaming about too much tax in France! It's not true! The cac40 groups have a final tax of less than 9%, less than my baker who is at 30% ….
It's tax evasion and fraud that plunders our states.
@walterbenja7052
December 18, 2023 at 12:44 pm
Voyez comme ce ne sont pas les aides sociales qui coulent l'Argentine! C'est la fuite géante. 90% des profits des grandes fortunes en Argentine quittent le pays et vont dans les paradis fiscaux . C'est une économie de rente qui essore le pays. En France 200 milliards quitte la France chaque année avec les techniques légales et illégales d'optimisation fiscale et de contournement de l'impôt. Soit 10% de la richesse produite en France chaque année.
En UE c'est 1000 milliards qui sont volés aux états européens c'est énorme. Et vous avez le Pen ou la droite qui hurlent au trop d'impôt en France ! C'est faux ! Les groupes du cac40 ont une taxe finale inférieure à 9% , moins que mon boulanger qui est à 30% ….
C'est la fuite et fraude fiscale qui pille nos états . Le pen et macron proposent de réduire encore les privilèges fiscaux des grandes fortunes…
Pour diviser et berner les pauvres le RN affirme que sans les musulmans tout ira mieux exactement comme hiitler disait aux Allemands que sans les juiifs tout irait mieux en Allemagne, on a vu , c'est la politique du bouc émissaire c'est très dangereux . Regardez le film " dupont lajoie" pour comprendre
@itsnotatoober
December 18, 2023 at 12:44 pm
Bebe le Bew
@packerbacker69
December 18, 2023 at 12:44 pm
Thus is what the US dollar has to look forward to. The only way in hell that America can pay off the $34 Trillion Dollar National debt is to massively devalue the Dollar.
@chillwill5080
December 18, 2023 at 12:44 pm
Everybody talking about Argentina while ignoring that the U.S. Government caused double digit inflation and devalued the wealth of it's citizens by over 50% in the last three years. 😕
@rodolfobermudez9848
December 18, 2023 at 12:44 pm
Autogol!
@anthonyj4735
December 18, 2023 at 12:44 pm
whatta joke Argentinians really think this idiot is going to save their country
@cliffhammer7953
December 18, 2023 at 12:44 pm
Adjusting for the New World Order.
@oliveiram54
December 18, 2023 at 12:44 pm
With their economy beyond repair and their money worthless, all Argentinians should move to Bitcoin.
@clee1690
December 18, 2023 at 12:44 pm
REPUBLICANS:ARE THEY JUST NATURAL BORN, LIERS
@rholmst
December 18, 2023 at 12:44 pm
So, deficits have a downside after all.
Looks like democrats skipped Econ 101.
@d3nza482
December 18, 2023 at 12:44 pm
And it burns, burns, burns…
@user-cv1xe9yf3f
December 18, 2023 at 12:44 pm
biden has devalued our currency by about the same amount.
@robbiehollywood1937
December 18, 2023 at 12:44 pm
There are people a lot smarter than me on this…
However, from my angle… It’s a bad idea to devalue your own currency, when you have a financial crisis.
That’s more like a step backwards.
@pinkiesue849
December 18, 2023 at 12:44 pm
Don't tell Mr Brandon
@FoFo-gm2iv
December 18, 2023 at 12:44 pm
And we thought egypt is bad 😂😂 3rd world citizens should buy gold
@sandilobianco6734
December 18, 2023 at 12:44 pm
Speaking of currency. Could the US Mexico, and Canada merge to become the North American Union?Just like the European Union. The dollar could be be replaced by “ the Amero”.
This was discussed decades ago.