this post was submitted on 14 Jul 2024
118 points (95.4% liked)

World News

39329 readers
2149 users here now

A community for discussing events around the World

Rules:

Similarly, if you see posts along these lines, do not engage. Report them, block them, and live a happier life than they do. We see too many slapfights that boil down to "Mom! He's bugging me!" and "I'm not touching you!" Going forward, slapfights will result in removed comments and temp bans to cool off.

We ask that the users report any comment or post that violate the rules, to use critical thinking when reading, posting or commenting. Users that post off-topic spam, advocate violence, have multiple comments or posts removed, weaponize reports or violate the code of conduct will be banned.

All posts and comments will be reviewed on a case-by-case basis. This means that some content that violates the rules may be allowed, while other content that does not violate the rules may be removed. The moderators retain the right to remove any content and ban users.


Lemmy World Partners

News [email protected]

Politics [email protected]

World Politics [email protected]


Recommendations

For Firefox users, there is media bias / propaganda / fact check plugin.

https://addons.mozilla.org/en-US/firefox/addon/media-bias-fact-check/

founded 2 years ago
MODERATORS
you are viewing a single comment's thread
view the rest of the comments
[–] [email protected] 3 points 5 months ago

This is the best summary I could come up with:


Argentina’s consumer price index rose 4.6% in June, slightly up from the rate of 4.2% in May, ending a five-month trend of cooling inflation that experts had attributed to a deepening recession brought about by Milei’s harsh austerity.

President Milei has touted the falling prices over recent months as a victory in his fight against Argentina’s worst economic crisis in over two decades.

In stark contrast to Milei’s program, those past Peronist administrations fixed prices and printed billions of dollars’ worth of pesos to fund a large deficit — fueling chronically high inflation.

The government has also capped electricity consumption to qualify for subsidies, squeezing families as a cold front sweeps Argentina during the Southern Hemisphere’s winter.

In another warning sign, the peso fell Friday to another record low against the dollar, hitting 1,500 on the black market and capping another week of volatility after holding steady in the first few months of the year.

“The staff will engage in discussions on a possible new arrangement as we would with any IMF member,” the fund’s spokesperson, Julie Kozack, told reporters when asked about the state of negotiations.


The original article contains 596 words, the summary contains 187 words. Saved 69%. I'm a bot and I'm open source!