Bolivia announced a round of austerity measures.
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The government floated the peso, effectively devaluing it by 95%, and raised gasoline prices by 1,000%. A decree signed by the Cabinet also froze salaries until December and decentralized state companies in an effort to control an annual inflation rate of 14,000% and reactivate production. The decree was signed after a 24-hour session with the participation of the military high command and police commanders.
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