Argentina Poverty Rate Hits Highest Level in 20 Years

Poverty Rises to 57.4%

BUENOS AIRES, Argentina (AP) - Poverty levels in Argentina have reached the highest in at least 20 years, according to a report released on Monday. The Observatory of the Argentine Social Debt (ODSA) found that poverty levels climbed to 57.4% in January 2024, a significant increase from the previous year's rate of 40.9%.

Alarming Rates of Child Poverty

The ODSA report also highlighted the alarming rates of child poverty in Argentina. The percentage of children living in poverty has risen to 17.5%, indicating a severe impact on the nation's youth.

Factors contributing to the surge in poverty include rising inflation, unemployment, and a decline in real wages. The COVID-19 pandemic has further exacerbated these economic challenges, leaving many Argentines struggling to meet their basic needs.

The Argentine government has announced plans to address poverty, including measures to boost economic growth and create jobs. However, experts warn that the current economic crisis poses significant challenges in effectively reducing poverty levels.