It is the second time in two weeks the monetary authority has reduced the rate for one-day repo transactions

Official statistics also show Argentina’s GDP shrank in Q4 of 2023, indicating the country has likely entered a recession

The president emphasized that private investments were the only way out for the Argentine economy

Stemming from the fiscal chapter of the first omnibus bill, the administration’s project also proposes cuts to personal asset tax and a scheme to regularize undeclared assets, but leaves out delicate matters such as export duties and pension reform

The forecast came on the eve of Economy Minister Luis Caputo’s meeting with IMF’s representatives in Washington D.C.

The report states that approximately 14.2 million urban residents are below the poverty line

Monthly inflation cooled to 11% as savage government austerity takes its toll

The increases range between 150% and 500% and are expected to raise inflation

International reserve accumulation and the grains harvest have seen the parallel rate drop by more than a fifth since its December peak