BUENOS AIRES (Sputnik) – Argentine Finance Minister Luis Caputo said Tuesday that Argentine authorities went for a serious devaluation of the national currency and will halve the exchange rate of the national currency, the peso, against the US dollar to tackle the crisis in the country.
“We will clarify the official exchange rate. [The US dollar] will be worth 800 pesos, [the increase] will be accompanied by an increase in the Pais tax [on the use of this currency],” Caputo said in a video message.
“We will decrease subsidies for transport and energy, and the tariffs are artificially low now,” he said, adding that the previous government deceived citizens by introducing subsidies, as these “subsidies are not free” and “citizens pay for them with inflation.”
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