Argentina's poverty levels hit 57% of population, a 20-year high in January, study finds

Poverty levels skyrocketed to 57.4% of Argentina’s 46 million people in January, the highest rate in 20 years, according to a study by the Catholic University of Argentina.

Poverty levels skyrocketed to 57.4% of Argentina's 46 million people in January, the highest rate in 20 years, according to a study by the Catholic University of Argentina.

The findings quickly unleashed accusations between Argentina's former Vice-President Cristina Fernández de Kirchner and the government of President Javier Milei, who came to power announcing a series of shock measures aimed at tackling the country's severe crisis.

About 27 million people in Argentina are poor and 15% of those are mired in “destitution”, meaning they cannot adequately cover their food needs, according to the study released over the weekend.

The UCA's social debt observatory is considered an independent and prestigious research space whose reports on poverty cover a larger geographical area than those conducted by Argentina's national statistics agency INDEC. It also applies a methodology that addresses the problem with a more multi-dimensional approach and its findings are seldom questioned by politicians and economists.

According to the Centre's latest report, the increase in poverty levels in January was partly due to the devaluation of the Argentine peso applied by Mr. Milei government shortly after taking office on December 10. This resulted in an increase in the price of the country's basic basket — which includes food, services and non-food goods — and the basic food basket.

“Working- or middle-class households that do not receive benefits through social programmes experienced the greatest impact,” the study concluded.