LatinNews Daily - 1 April 2025

*Argentina’s national statistics institute (Indec) has released its latest report on urban poverty and destitution, which shows that the poverty rate fell sharply in the second half of 2024 to 38.1% (11.3m people) down from 52.9% (15.7m people) in the first half of 2024 and from 41.7% in the second half of 2023. It also showed a drop in extreme poverty with 8.2% (2.5m people) of those surveyed living in extreme poverty, up from 18.1% (5.4m) in the first half of the year and 11.9% in the second half of 2023. The reduction in poverty figures is a boost for the government led by President Javier Milei, which released a statement attributing the drop to “the deep economic reforms” implemented by the president. The statement blamed the poverty rates seen in the first half of 2024 on the previous administration led by former president Alberto Fernández (2019-2023), saying that “current [economic] management demonstrates that the path of economic freedom and fiscal responsibility is the way to reduce poverty in the long term”.

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