Argentina devalues peso to respond to economic ’emergency’
Argentina is suffering 143% annual inflation, its currency has plunged and four in 10 Argentines are impoverished. The nation has also a yawning fiscal deficit, a trade deficit of $43 billion, plus a daunting $45 billion debt to the International Monetary Fund, with $10.6 billion due to the multilateral and private creditors by April.