Thursday, September 28, 2023

Latest News Today

Argentina’s Poverty Rate Soars Further Due to High Inflation

Buenos Aires, Argentina: High Inflation Rates and Poverty

Argentina is currently facing one of the world’s highest inflation rates, which is causing significant financial difficulties for many of its citizens. According to official figures released on Thursday, nearly four out of every ten people in the country were living in poverty at the end of last year.

Poverty Rates on the Rise

The poverty rate in Argentina increased to 39.2% of the population during the second half of 2022. This is a significant increase from previous years and indicates a worsening economic situation for many people in the country.

Impact of High Inflation Rates

One of the main drivers of poverty in Argentina is the country’s high inflation rate. This makes it more difficult for people to make ends meet, as the cost of basic necessities such as food and housing continues to rise. Additionally, high inflation rates can lead to a decrease in purchasing power, which can further exacerbate poverty levels.

Government Response

The Argentine government has taken steps to address the issue of poverty in the country, including implementing social welfare programs and increasing the minimum wage. However, these efforts have not been enough to significantly reduce poverty rates.

Looking Ahead

As Argentina continues to grapple with high inflation rates and rising poverty levels, it is clear that more needs to be done to address these issues. This may include implementing more comprehensive social welfare programs, investing in education and job training programs, and taking steps to stabilize the economy and reduce inflation rates.

Overall News Summary

The high inflation rates and resulting poverty levels in Argentina are a significant concern for the country’s citizens and policymakers alike. It is important that steps are taken to address these issues and improve the economic situation for all people in the country.

Follow us

Top News

Continue reading

Michigan Utility Companies Propose Using Low-Carbon Funds from Taxpayers to Invest in Natural Gas

Heat Pumps Could Save Maine Residents Hundreds of Dollars Annually News Summary According to the Maine State Housing Authority, a heat pump could save the typical Mainer who uses heating oil $913 annually (or $2,128 if gas is...

Caution Urged by EU Chief in Trading Technology with China

EU Must Protect Trade and Investment from China's Security and Military Threats, Warns von der Leyen European Commission President Ursula von der Leyen has cautioned that the European Union (EU) must be ready to implement measures to safeguard trade and...

Coinbase’s Expansion in Canada: A Follow-Up

Coinbase in Talks with Regulators to Stay in Canada, While Binance Considers Leaving As Canada tightens regulations for cryptocurrency exchanges, Coinbase is reportedly in discussions with regulators to stay in the country, while Binance is considering leaving....

Declining deposits highlighted by bank failures

Depositors Withdraw Funds Amid Bank Failures and Rising Interest Rates Recent bank failures and a significant increase in interest rates have led to an acceleration in the withdrawal of funds by depositors. This has raised concerns about the health of...

Lolita the Orca to Be Returned to the Pacific with an Established Agreement

Unlikely Coalition Announces Plan to Return Orca to Pacific Northwest In a surprising move, a coalition made up of a theme park owner, animal rights group, and NFL owner-philanthropist has announced a plan to return Lolita, an orca that has...

Lebanon Cancels $122M Airport Terminal 2 Plan Unexpectedly

Lebanon Cancels Contract for New Airport Terminal Lebanon's caretaker transportation minister has announced the cancellation of a contract for a new terminal at the country's main airport. The decision comes after criticism that no public bidding was held for the...

US Economic Growth for Last Quarter Revised Down to 26% Rate, Marking a Unique Change

US Economy Grew at 2.6% Annual Pace in Q4 Despite Rising Interest Rates The US economy maintained its resilience from October through December despite rising interest rates, growing at a 2.6% annual pace, the government said Thursday in a slight...

Jobless Claims Increase Among Americans; Layoffs Remain Minimal

Jobless Claims in the US Rise Slightly, But Still Remain Historically Low Despite the Federal Reserve's efforts to cool the economy and job market in its fight against inflation, U.S. applications for jobless benefits rose slightly last week. However, the...

Fire breaks out as BNSF train carrying ethanol derails in Minnesota, prompting evacuation of small town

Train Carrying Ethanol and Corn Syrup Derails and Catches Fire in Minnesota Evacuation and Emergency Response A train carrying “a form of ethanol” and “a corn syrup liquid” derailed and caught fire, forcing the evacuation of a Minnesota...

Egypt Implements Interest Rate Hike to Combat Soaring Inflation

Egypt's Central Bank Increases Interest Rates to Combat Inflation and Currency Depreciation Overview The Central Bank of Egypt has announced that it has raised interest rates in response to the country's ongoing battle with inflation and a depreciating currency. The increase...