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this post was submitted on 17 Dec 2023
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This is the best summary I could come up with:
These are some of the faces of anxiety that Argentines are dealing with after President Javier Milei’s administration announced economic shock measures aimed at tackling the country’s severe crisis, including a sharp devaluation of the peso by 50%, cuts to subsidies and the closure of some ministries.
Milei himself has warned people that these steps will cause some pain, but he insists they are needed to curb triple-digit inflation and have sustainable economic growth in the future.
Milei, a 53-year-old economist who rose to fame on television with profanity-laden tirades against what he called the political caste, got enough support to become president among Argentines disillusioned with the economic crisis.
He took power in a country where annual inflation is running at 160.9%, four of every 10 people are poor and the trade deficit stands at $43 billion.
That puts it closer to the U.S. currency’s value on the parallel retail market — popularly known as the “blue dollar,” which is over 1,000 pesos.
“This crying face I have is because my best friend has just lost her job after joining the national Ministry of Culture last year,” she said.
The original article contains 694 words, the summary contains 190 words. Saved 73%. I'm a bot and I'm open source!