Tag: Argentina

Argentina’s economy has shown signs of stabilization following a challenging year marked by severe poverty, soaring inflation and significant sociopolitical pressures. Today, the country stands as one of the largest economies in Latin America, with a gross domestic product (GDP) of approximately $640 billion, per the World Bank Group.

More than half of Argentina’s 46 million population is now living in poverty, new figures indicate. The poverty rate skyrocketed to 52.9% in the first half of 2024, surging from 40.1% one year earlier, according to the government’s INDEC statistics agency.

Javier Milei, a self-described “anarcho-capitalist,” campaigned for the presidency on a platform that featured pledges to slash state spending, shrink the government, dismantle regulatory constraints on the private sector, and wage war against a corrupt political “caste” that had mismanaged Argentina into a seemingly endless series of economic crises.