Argentina's poverty rate rose after Miley's inauguration and is the highest in twenty years

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Sputnik – Poverty levels in Argentina reached their highest level in two decades, reaching 57.4% in January this year, according to a recent study by the Argentine Catholic University. The devaluation of the Argentine peso, promoted by Javier Miley's government shortly after he took office in December, has contributed to a significant increase in prices, worsening the economic situation in the South American country.

Since the beginning of his term, Miley has implemented sweeping economic reforms, including a 54% devaluation of the peso against the US dollar. These measures, designed to dollarize the economy and contain annual inflation exceeding 200%, led to an economic crisis that directly affected Argentina, leading to a collapse in income and increased poverty rates.

The study released by the University of Central Asia reveals that the number of people living in poverty in Argentina already exceeds 27 million, with two significant increases occurring in the third quarter of 2023 and in January 2024. The Argentine government, in response to criticism, has sought to promote changes and implement Economic policies capable of reversing this worrying trend.