Page 117 - Global Development News Today

The painful economic steps that Argentina's new president, Javier Milei, announced this week sound draconian: Slashing the currency's value in half. Reducing aid to provincial governments. Suspending public works. Cutting subsidies for gas and electricity. Raising some taxes.

WASHINGTON (AP) — The painful economic steps that Argentinas new president, Javier Milei, announced this week sound draconian: Slashing the currencys value in half. Reducing aid to provincial governments. Suspending

Breaking News, Sports, Manitoba, Canada

The painful economic steps that Argentina’s new president, Javier Milei, announced this week sound draconian: Slashing the currency’s value in half

But even with higher growth rates, it will take decades to catch up, a webinar was told.

Geopolitical crises, high interest rates, climate change and the pandemic have all made it harder to keep up with debt payments.

The painful economic steps that Argentina's new president, Javier Milei, announced this week sound draconian: Slashing the currency's value in half. Inflation in Argentina has hit 161%. Its debts, including $45 billion that it owes the International Monetary Fund, are suffocating.

In the past five years, its currency has lost about 90% of its value against the U.S. dollar.

It is that time of year when people put up their outside holiday lights and displays. Judging from our neighborhood they are decorating more than usual.

The 50th anniversary edition of the World Bank's International Debt Report offers a wealth of information and analysis. It includes detailed debt data on all 122 World Bank borrowers, as well as aggregated data by region, income group, and other categories.