Argentina’s Inflation Nears Highest Level In Three Decades

Argentina’s inflation rate hit 53.8 per cent in 2019, climbing to its highest level in almost three decades and underlining the scale of the challenges facing the embattled country’s new leftist president, Alberto Fernández, the Financial Times reported. The national statistics agency announced on Wednesday that prices rose 3.7 per cent in December after renewed currency volatility ahead of elections last year, confirming Argentina’s place among the top five countries with the highest inflation rates in the world — behind Venezuela, Zimbabwe, South Sudan and Sudan.  Even so, Argentina’s Peronist government faces the even more urgent task of staving off the country’s ninth sovereign debt default as negotiations heat up ahead of a self-imposed deadline to come to an agreement with creditors by the end of March, given heavy obligations coming due in the following weeks. Read more