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Argentina's 'little trees' getting chopped down by new president

Argentina's 'little trees' getting chopped down by new president

It didn’t take Argentina’s new president very long to ruin Lorena Garcia’s business.

Garcia, a money changer, is one of legions whose livelihood was turned upside down when Mauricio Macri, in one of his first acts as president, eliminated a subsidized exchange rate for the Argentine peso.

“The golden age is over,” Garcia said in a low voice, a calculator by her side, as she sat in her jewelry shop on Florida Street. Her district in central Buenos Aires has long been home to legions of “arbolitos,” or “little trees,” as money changers are known here, in a reference to the green of the U.S. dollar.

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