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Argentina is taking emergency economic measures in an attempt to stave off a possible devaluation of the Argentinian Peso. In recent weeks, the currency has taken a rapid downturn, triggering fears of an economic crisis.
In an effort to slow down the devaluation, Argentina’s Central Bank is planning to increase the size of its currency reserves and to tighten credit requirements for individuals and businesses.
The Bank also plans to issue more government bonds and increase the interest rate on government bonds to incentivize citizens and businesses to invest money in the national currency.
The government is also working to pass several other measures designed to stabilize the Argentine economy. These include a restructuring of some of the country’s taxes and a series of reforms designed to stimulate investment, encourage private enterprise and ensure an efficient use of public resources.
The late payment of wages to hundreds of thousands of state workers is also a burden on the economic recovery, and the government is now looking to pass laws that compensate workers while also restoring trust in the government.
The government has also introduced a new system of milestones, where the government provides a guarantee that it will continue to honor its debt obligations if certain goals are met.
The government is hoping that its measures will be effective in preventing a large currency devaluation and promoting economic growth. However, the situation is still considered fragile and the Argentinians remain wary about the future.
