BUENOS AIRES, Argentina — Argentina on Tuesday announced a sharp devaluation of its currency and cuts to energy and transportation subsidies as part of shock measures new President Javier Milei says are needed to deal with an economic “emergency.” Economy Minister Luis Caputo said in a televised message the Argentine peso will be devalued by 50% to 800 to the U.S. dollar from 400 pesos to the dollar. “For a few months, we’re going to be worse than before,” Milei said, two days after the libertarian was sworn in as president of the second largest economy in South America and immediately warned of tough measures. Milei said the…
