Paperback prices have doubled in four months even as middle-class Argentines struggle to pay for food and medicine

The decision is expected to unlock a US$792 million disbursement scheduled for June

The government’s proposal is a ‘unilateral’ measure that could ‘affect legal security,’ the electricity generators’ association said

The nominal rate is now 50%, its lowest value since June 2022

Mass consumption has fallen in all major categories, from food and alcoholic beverages to cleaning products

Analysts say the bond proposal would mask expenditures that all but wipe out the Milei administration’s lauded fiscal surplus

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