Analysis: Figures explain why Argentina is in economic trouble

With the latest hike in the key interest rate, Argentina has overtaken Venezuela to lead the ranking of the highest nominal interest rates in the world. Interest rates have already increased in 2019.

A sizeable fiscal imbalance has led Argentina into a new economic crisis, with a sharp loss of purchasing power for the population and a devaluation of the Argentine peso.

In 2019, R$1 paid 14.9 pesos. Now it is equivalent to 25.1 pesos. The country's currency has weakened against the Brazilian real, which has also lost value against the dollar in recent years. Eating meat in Argentina, for example, can cost half the price compared in Brazil.

Silvina Batakis took over the country's Ministry of Economy after Martín Guzmán resigned. But 24 days later . . .

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