Argentina’s government has struck a deal to temporarily pause increases in the price of its food.
Food and consumer goods prices have risen by 50 per cent annually, as the country emerges from a deep economic recession.
The concern is, the rising prices are preventing workers from purchasing food and other essential goods, as the price increases outstrip wage growth.
The country’s 2018 monetary crisis, spurred by a build-up of national debt, depreciation of the peso, and economic contraction saw the country turn to the International Monetary Fund for a $57 billion dollar loan, on which it defaulted in 2020.