Argentina devalues peso, raises rates after shock primary | The World

Inflation has hit 113 percent in Argentina this year, leading to soaring consumer prices and plunging 40 percent of its population below the poverty line. The situation has worsened as the currency fell off the back of a shock primary election result. Madeline Lobooth reports. Subscribe: ab.co/1svxLVE ABC News provides around the clock coverage of news events as they break in Australia and abroad, including the latest coronavirus pandemic updates. It's news when you want it, from Australia's most trusted news organisation. For more from ABC News, click here: ab.co/2kxYCZY Watch more ABC News content ad-free on ABC iview: ab.co/2OB7Mk1 Go deeper on our ABC News In-depth channel: ab.co/2lNeBn2 Like ABC News on Facebook: facebook.com/abcnews.au Follow ABC News on Instagram: instagram.com/abcnews_au Follow ABC News on Twitter: twitter.com/abcnews Note: In most cases, our captions are auto-generated. #ABCNews #ABCNewsAustralia

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