Global Problems


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Argentina

Many countries faces threat due to up levelling of oceans.

Argentina’s Declining Purchasing Power: Inflation, Currency Crisis, and Economic Struggles

Argentina, once known for its economic potential, now faces a deep crisis marked by soaring inflation, a weakening national currency, and severe instability. These issues have drastically weakened the ability of ordinary Argentinians to afford basic goods and services. In 2023, inflation surpassed 200%, and it is expected to rise to nearly 280% in 2024, one of the highest rates in the world. The devaluation of the Argentine peso, stagnant wages, and harsh economic realities have pushed many people toward survival strategies, including using foreign currency, bartering, and relying on government support. This article explores the key factors behind Argentina’s collapsing purchasing power and the consequences for daily life.