Re: Javier Milei triumphantly pulls Argentina out of financial ruin.

On Thu, 14 Mar 2024 17:46:29 +0100, D <nospam@example.net> wrote:

Javier Milei triumphantly pulls Argentina out of financial ruin

According to figures released Tuesday by the government's INDEC
statistics agency, Argentina's monthly inflation slowed down to 13.2%
in February, compared to 20.6% in January and 25.5% in December. On a
yearly basis, however, inflation remains the highest in three decades,
topping 276.2% in February.
...
...
A self-described anarcho-capitalist, Milei assumed power in December
and almost immediately announced a series of shock measures, including
a 50% devaluation of the nation's currency in hopes of eventually
bringing the country's roaring inflation under control.

https://apnews.com/article/argentina-inflation-milei-economy-b742f06a3565fbcea24ff925420adf38

It ain't over, until inflation is over:-)

50% devaluation of the nation's currency

Which means imported products soar in price.
====
Javier Milei Must Dollarize to Raise Argentina's Incomes
His popularity depends on them going up.
March 14, 2024
...
...
Too many leaders have applied austerity instead of currency
stabilization--often under pressure from the financial community. In
Nigeria, Egypt, Ethiopia, Haiti, Argentina and many other poor
countries, financiers and central bankers profit from devaluations
even as poverty worsens.

https://www.wsj.com/articles/javier-milei-must-dollarize-to-raise-argentina-incomes-6767fbcd