PHOTO
Argentine peso notes are seen at an ATM on August 4, 2022 in Buenos Aires, Argentina. Financial markets were in expectation following the announcements of fiscal discipline by Argentina's new Economy Minister Sergio Massa, while the social movements expressed their concern about austerity measures that "leave aside the most neglected". (Photo by Luis ROBAYO / AFP) Image used for illustrative purpose.
Argentina's inflation rate is expected to skyrocket to 250.6 percent this year, sharply higher than a previous forecast of 157.1 percent, the OECD said Monday.
The Paris-based organisation also forecast a deeper economic contraction for 2024 in Argentina, whose libertarian new President Javier Milei has launched sweeping reforms since taking office in December.