New Delhi: The discussion of recession is in full swing in the world. Some countries are horribly vulnerable. Argentina is such a beautiful Latin American country. Argentina was once the third-largest economy in Latin America. But today Argentina's economy is in a very bad phase. In Argentina, which is going through a period of crisis, inflation has reached 22 percent and people are troubled by poverty. The value of the Argentine currency peso is also steadily decreasing.
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In Argentina, people start buying dollars when the value of the local currency decreases. In such a situation, the value of money falls further. Therefore the Central Bank has also made a new rule. According to the rule, if the people of Argentina want to buy more than seven lakh rupees (10 thousand dollars), then they have to get permission from the government. Not only this, government permission will be required even before sending out funds in addition to buying dollars. These rules also apply to the companies there.
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Despite all efforts, the government there could not reduce inflation. The economic reforms promised to reduce spending and reduce debt could not be implemented. Income did not rise in comparison to rising prices due to rising inflation and public spending cuts. Because of which most people became poor. One-third of the country's population is now living in poverty. The country is currently trying to recover from the recession.