Transport Hubs: Government Debt and Austerity Measures

transport hubs: The currency had already dropped by more than 50% this year amid fears about a recession and high levels of government debt, and despite the government imposing fresh austerity measures in an attempt to stem the crisis, according to The Guardian. The resignation came as a nationwide strike called by unions closed public transport hubs and ports across the country, and thousands of people took to the streets of Buenos Aires to protest against the policies of President Mauricio Macri. In the latest twist of the economic crisis, Luis Caputo resigned unexpectedly on Tuesday, sending the peso tumbling on the foreign exchanges. Sign up to the daily Business Today email or follow Guardian Business on Twitter at Business Desk The central bank said Caputo had resigned for personal reasons, and that a deal with the IMF would re-establish confidence in the country's economic and financial policies. Argentinaraised interest rates to 60% under Caputo late last month in an attempt to restore confidence in the peso, but the currency continued to fall. The government said Caputo had been replaced by the former economic policy secretary Guido Sandleris. (news.financializer.com). As reported in the news.