‘Shock therapy’ reforms have propelled prices for basic good higher and led to a sharp drop in purchasing power, a new study shows Poverty levels in Argentina hit a multiple-year high in January following the drastic economic reforms carried out by newly installed President Javier Milei, the Social Debt Observatory of the Catholic University of Argentina (UCA) said in its latest report released this past weekend. According to the data, the share of people in poverty in the country surged to 57.4% last month, the highest since 2004, and up from 44.7% in the third quarter of 2023, prior to Milei taking office. In wh
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