President Javier Milei’s administration said the official U.S. dollar to peso rate will be AR$1,061 at the end of 2024 in a preliminary budget report filed in the Chamber of Deputies.Also forecasts a 139.7% inflation rate for 2024 and predicted that the country’s GDP would fall by 3.5% in 2024, a more abrupt slump than the 2.8% the International Monetary Fund (IMF) predicted.Since part of the agricultural sector refuses to sell their U.S. dollars to the Central Bank, the government is having difficulties accumulating international reserves and defending the exchange rate.
July 3, 2024
SOURCE: BUENOS AIRES HERALD
MORE COVERAGE: