"Argentina's Inflation Crisis Creates Ghost Town on Paraguay Border"

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Source: Reuters Canada
"Argentina's Inflation Crisis Creates Ghost Town on Paraguay Border"
Photo: Reuters Canada
TL;DR

The Paraguayan border town of Nanawa has turned into a ghost town due to Argentina's near 300% inflation and a propped-up peso, which has made Argentine imports significantly more expensive. This has led to a sharp decline in sales, with shopkeepers reporting a 60-80% drop since President Javier Milei took office and devalued the peso. The economic situation has also affected tourism and exports, making Argentina less competitive in the region.

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