Argentina may use the dollar – level 3

Argentina may use the dollar

15-06-2023 07:00

In Argentina, where inflation has reached over 100%, some economists are suggesting the adoption of the dollar as the official currency to solve the economic crisis.

The Argentine peso has faced numerous challenges, including being replaced by the Austral in the 1980s and a failed peg to the dollar in the 1990s. Now, economist Javier Milei, who is running for president, proposes formally adopting the dollar to combat triple-digit inflation.

He criticizes the rapid depreciation of the peso, which has lost half of its value against the dollar in just one year. Meanwhile, the Argentine government is seeking assistance from China and the IMF to avoid a currency crisis and stabilize the economy before the upcoming elections. However, the IMF faces a dilemma in deciding how to support Argentina, given the country’s failure to meet previous loan program targets.

Difficult words: peg (a fixation at a particular level), depreciation (a reduction in the value over time), dilemma (a difficult situation or problem).

You can watch the video news lower on this page.

What challenges does the Argentine government face in attempting to stabilize the economy before the upcoming elections?

LEARN 3000 WORDS with NEWS IN LEVELS

News in Levels is designed to teach you 3000 words in English. Please follow the instructions
below.

How to improve your English with News in Levels: 

Test

  1. Do the test at Test Languages.
  2. Go to your level. Go to Level 1 if you know 1-1000 words. Go to Level 2 if you know 1000-2000 words. Go to Level 3 if you know 2000-3000 words.

Reading

  1. Read two news articles every day.
  2. Read the news articles from the day before and check if you remember all new words.

Listening

  1. Listen to the news from today and read the text at the same time.
  2. Listen to the news from today without reading the text.

Writing

  1. Answer the question under today’s news and write the answer in the comments.

Speaking

  1. Choose one person from the Skype section.
  2. Talk with this person. You can answer questions from Speak in Levels.

 

Stock images by Depositphotos