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Argentinian Treasury minister N. Dijovne greets C. Lagarde from the IMF. Stephen Jaffe/IMF Getty Images

Argentina's currency sunk to new lows today, sparking fears of a crisis that could expand throughout the region. The peso has lost 18% of its value against the U.S. dollar in the last 12 days despite an aggressive rate hike, and the announcement of a loan from the IMF, per the FT.

Why it matters: President Mauricio Macri has been trying to push more pro-market policies after a decade of populist governments in Argentina. His reforms have not produced the desired economic boost in a country with high inflation and anemic growth. The rise in the dollar's value and the lack of confidence in Macri's policies have turned into a storm that could affect other regional markets.

Go deeper

The social media addiction bubble

Illustration: Annelise Capossela/Axios

Right now, everyone from Senate leaders to the makers of Netflix's popular "Social Dilemma" is promoting the idea that Facebook is addictive.

Yes, but: Human beings have raised fears about the addictive nature of every new media technology since the 18th century brought us the novel, yet the species has always seemed to recover its balance once the initial infatuation wears off.

Young people's next big COVID test

Illustration: Eniola Odetunde/Axios

Young, healthy people will be at the back of the line for coronavirus vaccines, and they'll have to maintain their sense of urgency as they wait their turn — otherwise, vaccinations won't be as effective in bringing the pandemic to a close.

The big picture: "It’s great young people are anticipating the vaccine," said Jewel Mullen, associate dean for health equity at the University of Texas. But the prospect of that enthusiasm waning is "a cause for concern," she said.

7 hours ago - World

New Zealand authorities charge 13 parties over deadly volcano eruption

Prime Minister Jacinda Ardern at New Zealand's parliament in Wellington. Photo: Mark Tantrum Photography via Getty Images

New Zealand authorities laid safety violation charges Monday against 10 organizations and three individuals over the fatal Whakaari/White Island volcanic disaster last December, per a statement from the agency WorksSafe.

Details: WorksSafe declined to name those charged as they may seek name suppression in court. But Prime Minister Jacinda Ardern said government agencies GNS Science, which monitors volcanic activity, and the National Emergency Management Agency were among those charged over the "horrific tragedy" that killed 22 people.