Argentina's Poverty Rate Soars to 57.4%, a 20-Year High

Following President Milei's economic reforms, including a significant devaluation of the peso, Argentina faces its highest poverty levels in two decades.

• Poverty levels in Argentina reached 57.4% in January, marking the highest rate in at least 20 years, as reported by the Catholic University of Argentina.
• President Javier Milei's economic policies, including a 54% devaluation of the peso, have been linked to the sharp increase in poverty.
• Milei's administration aims to overhaul Argentina's economy with measures such as ending subsidies, implementing tax hikes, and privatizing state-owned companies.
• Despite the economic turmoil, Argentina reported a January budget surplus of 518.41 billion pesos, the first positive balance since August 2012.
• Milei has promised to 'dollarize' the economy and eliminate the fiscal deficit, amidst an annual inflation rate exceeding 200%.

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