Argentina To Engage In Regional Summit On Countering Inflation

April 18, 2023



On Monday, Argentine President Alberto Fernandez confirmed that his administration will participate on May 5 and 6 in a Latin American summit to define common strategies to fight inflation.

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“We are all aware of what it currently costs to go to the supermarket and pay the rent,” Fernandez said, stressing the State is responsible for promoting social equality.

In March, inflation rates in Argentina rose to 7,7 percent, the highest level since 2022. This situation has led to a considerable increase in food prices, especially meat products, which cost about US$8.2 per kilo.

“The rising in food prices comes at the worst time,” the Fernandez administration spokesperson Gabriela Cerruti said, recalling that Argentina also faces a national drought that hinders food production.

“Economy Minister Sergio Massa is committed to solving this situation. However, he faces problems that former President Mauricio Macri posed,” Fernandez said, recalling that during his administration (2015-2019),” Fernandez pointed out, recalling that the Macri administration increased Argentina’s sovereign debt from US$240 billion in 2015 to US$323 billion in 2019

On Monday, Fernandez also announced the establishment of the program “My Connected People,” which seeks to install Internet services in 377 towns that did not have this service.

“This program will encourage citizen participation in political decisions since it will allow access to digital resources in local governments. Valuing the people’s word means listening to their demands and attending to their needs,” he stated.





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