Argentina's new Minister of Economy, Luis Caputo, announced a series of economic policies on the 12th aimed at reducing fiscal deficits and controlling inflation. Caputo delivered a video speech on the same day, stating that Argentina is currently facing economic problems such as inflation, and the root cause is the excessive fiscal deficit. The new government will introduce a series of policies to reduce the fiscal deficit, including reducing the number of government departments from 18 to 9, reducing government subsidies for energy and transportation, and stopping bidding for new public works. He also stated that the new government will devalue the official exchange rate of the Argentine peso from 1 US dollar to about 400 Argentine pesos to 1 US dollar to 800 Argentine pesos, and relax import controls. Argentine new President Mile was sworn in on the 10th in the capital Buenos Aires, officially beginning his four-year presidential term. The new government of Argentina also officially took office on the same day. Argentina is currently facing severe inflation. According to data released by the National Institute of Statistics and Census of Argentina, the cumulative inflation rate in the first 10 months of this year in Argentina reached 120%. The Central Bank of Argentina released a report in November, predicting that the country's inflation rate will reach 185% in 2023. (Lai Xin She)