No idea if this will work, but interesting economic experiment.
Quote:
Argentina on Tuesday announced a sharp devaluation of its currency and cuts to energy and transportation subsidies as part of shock adjustments new President Javier Milei says are needed to deal with an economic "emergency."
Economy Minister Luis Caputo said in a televised message that the Argentine peso will be devalued by 50% from 400 pesos to the U.S. dollar, to 800 pesos to the dollar.
"For few months, we're going to be worse than before," he said.
It comes two days after the libertarian Milei was sworn in as president of the second largest economy in South America, and immediately warned of tough measures.
Milei said the country didn't have time to consider other alternatives.
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