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Argentina in dire economic crisis

by Afonso
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Argentina is a South American country in dire economic crisis. Currently, annual inflation in the country exceeds 200 percent. The price of rice, fruits, vegetables and fish meat has reached the peak. In the meantime, the International Monetary Fund – IMF is going to give a loan of 4.7 billion dollars to Argentina.

At the beginning of the 20th century, Argentina was a very rich country in Latin America. But later the situation gradually changed, financial crisis intensified. The situation has now become dire. In December, the country’s annual inflation rate reached 211.4 percent. Which is the highest since 1990.

The shops in Buenos Aires are almost empty of customers. Starting from fruits and vegetables, the price of fish and meat has increased up to 60 percent. It has reduced buyers. Small and medium traders said that the loss is more than the profit.

The country has gone through economic recession last year. December was the worst month. The new president came to power on 10 December. After 2 days, the companies increased the price of everything. what can we do

Consumers are suffering due to the increase in the price of daily necessities.

A buyer said, ‘Everything is expensive. I can’t afford to buy less. Bought some vegetables. A kilo of rice costs 5,000 pesos here. They are nothing but theft.

Another said, ‘It is very sad. The government should know what they are doing by increasing the price of everything. People’s condition is getting worse to buy little food. The government must explain this. Along with food, the electricity bill has increased.

40 percent of the country’s total population lives below the poverty line. Low-income people are forced to scavenge for food as inflation reaches its peak.

Meanwhile, President Javier Millei has taken several measures to combat inflation, including ending export restrictions. But analysts think that there will not be much change in it.



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