Argentina announces package of measures to rein in inflation, bolster peso

Argentina's government announced a package of measures to rein in soaring inflation and support the wobbly peso currency on Sunday, including rate adjustments, more interventions in the exchange market and sped-up deals with creditors.

The South American nation is battling to bring down inflation that hit 109% on an annual basis in April, tumbling confidence in the peso and dwindling foreign currency reserves that are threatening the government's finances.

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