Argentina devalues peso and cuts spending under Caputo plan
Argentina's new economy minister Luis Caputo announced an emergency package on 12 December 2023 that roughly halved the peso's official value, moving it from about 400 to 800 per US dollar.
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Argentina's new economy minister Luis Caputo announced an emergency package on 12 December 2023 that roughly halved the peso's official value, moving it from about 400 to 800 per US dollar. The plan also cut energy subsidies and suspended public-works tenders as President Javier Milei's government tried to curb the fiscal deficit and inflation.
Who was responsible
Contribution type and responsibility level for each recorded actor — not sole-author shorthand.
Javier Milei
PersonIndirect / organizational responsibility
Through Government of Argentina (President; his economy minister announced the package)
verified
Luis Caputo
PersonShared responsibility
verified
What changed
Fact → Driver → Indicator. Relationship strength orders the paths; it is not the observed indicator movement.
No public driver impacts are listed for this fact.
Evidence
The sources behind this fact and its verification state.
- 1.Argentina’s Milei starts shock therapy by devaluing peso by 50 percentAl Jazeera · verified
- 2.Argentina’s new government devalues peso by more than 50%The Guardian · verified
Causal path
How this event connects to drivers and indicators in the graph.
No causal path is recorded: this fact is not linked to a driver.
Articles explaining this fact
Analysis explicitly linked to this fact.
Cite this page
Factrail. (2026). Argentina devalues peso and cuts spending under Caputo plan. Factrail. https://factrail.ai/facts/argentina-government-announces-peso-devaluation-2023-12-12
https://factrail.ai/facts/argentina-government-announces-peso-devaluation-2023-12-12
Accessed 19 October 2026.
By the Factrail desk · Method: how we source and score · Last reviewed
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