Argentina, under President-Elect Javier Milei, has officially declined to join the BRICS group, rejecting the previous government's agreement. Milei, a self-described 'anarcho-capitalist,' advocates for slashing public spending, abolishing the central bank, and dollarizing the economy. His economic agenda aligns with libertarian beliefs, aiming to reduce the state's role and size. Milei plans to present economic reforms immediately after taking office, including tax and labor law reforms. His appointment of a conservative rival as security minister and the consideration of dollarization have drawn attention. However, concerns have been raised about the potential consequences of dollarizing the economy, with some arguing that it may lead to disaster. Additionally, Milei's administration is expected to bring about significant changes, including privatization and spending cuts. Investors are preparing for a 44% devaluation of Argentina's official exchange rate after Milei's inauguration. There are also discussions about the country's current account deficit and the need for fiscal adjustment to prevent a financial crisis. Milei's shifting economic vision and recent backtracking on dollarization and softening stance on China have sparked interest and skepticism.
.@Pat_Horan92 explains why Javier Milei's dollarization plan is the best option for monetary reform in Argentina. https://t.co/MR2HKr46nP
Argentina’s central bank limits the amount of foreign currency commercial lenders can hold, in a push to discourage US dollar hoarding ahead of an expected devaluation by Javier Milei https://t.co/MrJZ7Nnour
Argentina’s central bank limits the amount of foreign currency commercial lenders can hold, in a push to discourage US dollar hoarding ahead of an expected devaluation by Javier Milei https://t.co/8vwGj1YRpG
Argentina’s central bank limits the amount of foreign currency commercial lenders can hold, in a push to discourage US dollar hoarding ahead of an expected devaluation by Javier Milei https://t.co/5JhJUdHwnv
Well who would have thought? Milei is backtracking on dollarising Argentina and softening his stance on China. Getting elected is one thing, concrete proposals once in office are a very different matter
Perhaps a stupid question, but why can't Argentina just remove legal tender laws that require contracts to be denominated in Argentinian peso? Soon enough, individuals and companies would shift towards the US Dollar, without the need of a currency board arrangement or similar.
Argentina’s President-elect Milei is often called the ‘Trump of the south.’ He’s not | Opinion https://t.co/q0c3HfoReF
Milei's shifting economic vision in Argentina https://t.co/hZH2qZ32BQ https://t.co/40lqEUqUXR
Proponents of Javier Milei's dollarization plan aren't arguing that it’s a silver bullet but rather a way to restore desperately needed price stability in Argentina. https://t.co/MR2HKr46nP via @Pat_Horan92
Javier Milei takes office as Argentina's president in 4 days. He plans to initiate a program of "economic shock therapy," which entails extreme spending cuts along with mass privatization. Milei: “Everything which can be in private sector hands, will be in private sector hands"
Argentina’s President-elect Milei is often called the ‘Trump of the south.’ He’s not | Opinion https://t.co/ObOlPWodmU
Argentina investors are preparing for a 44% devaluation of the country’s official exchange rate after Javier Milei’s inauguration on Dec. 10 https://t.co/dChHYJjHjU
Argentina investors are preparing for a 44% devaluation of the country’s official exchange rate after Javier Milei’s inauguration on Dec. 10 https://t.co/s8rAxAb3dW
Argentina investors are preparing for a 44% devaluation of the country’s official exchange rate after Javier Milei’s inauguration on Dec. 10 https://t.co/KpiiLs4PHO
Argentina's current account deficit has grown sharply this year but funding is almost inexistent. Unless Milei's team engineers a large improvement in national savings (ie, tons of fiscal adjustment), money to pay bonds will run out by 2025. https://t.co/1poreemTpO
.@Pat_Horan92 explains why Javier Milei's dollarization plan is the best option for monetary reform in Argentina. https://t.co/MR2HKr46nP
A self-described "anarcho-capitalist," Javier Milei has positioned himself as a leader for those frustrated with corruption and mismanagement of Argentina's government and economy. https://t.co/mqp3w4aXco
Proponents of Javier Milei's dollarization plan aren't arguing that it’s a silver bullet but rather a way to restore desperately needed price stability in Argentina. https://t.co/MR2HKr46nP via @Pat_Horan92
Argentina’s Javier Milei Prepares a ‘Shock Package’ of Legislation for His Very First Day: ‘It’s a New Social Contract’ via @gatewaypundit https://t.co/3i7zcDGkik
With its GDP shrinking and inflation at 143%, Argentina’s economic outlook appears bleak, and President-elect @JMilei has promised to prevent the crisis from spiraling out of control. But his plan to dollarize the economy will most likely lead to disaster. https://t.co/9ikjp8Sfiy
Can Milei Really Shut Down Argentina's Central Bank? | @dlacalle_IA Argentina was a rich country made poor by socialism. It needs to abandon socialism to become rich again. https://t.co/OLDxW0k9Eq
For those who missed it last week -- my take on whether Argentina can dollarize and Argentina's broader challenges under Milei. With the great Odd lots Team https://t.co/EC8BsQ9ye0
How Not to Desocialize: Argentina Edition | Benjamin Seevers While Argentina president-elect Javier Milei plans to privatize state-owned enterprises, there is a right way and a wrong way to privatize these entities. Murray Rothbard and Hans-Hermann Hoppe show the way.…
.@Pat_Horan92 explains why Javier Milei's dollarization plan is the best option for monetary reform in Argentina. https://t.co/MR2HKr46nP
Argentina’s import decline has been driven by prices this year. Despite the recession, import volumes have remained unsustainably strong due to populist policies. FX and fiscal adjustment should prompt massive import compression for much-needed foreign reserve buildup in 2024... https://t.co/yJINPD515l
Far-right populist Javier Milei has announced the appointment of a former neo-Nazi as the head of one of Argentina's top legal offices, drawing harsh condemnations from Jewish groups https://t.co/VTLRWRYhhf
Javier Milei aims to present reforms to Argentina’s tax and labor laws in an economic “shock” package immediately after taking office on Dec. 10, La Nacion newspaper reported https://t.co/L76GkOJMpk
Javier Milei aims to present reforms to Argentina’s tax and labor laws in an economic “shock” package immediately after taking office on Dec. 10, La Nacion newspaper reported https://t.co/avLNn3APn0
Javier Milei aims to present reforms to Argentina’s tax and labor laws in an economic “shock” package immediately after taking office on Dec. 10, La Nacion newspaper reported https://t.co/opLJ8FKLMF
Last week, far-right politician Javier Milei was elected president in Argentina on a platform that promised to slash public spending, abolish the central bank, and dollarize the economy. https://t.co/uRlLNVdkp3
Argentina should adopt the dollar, a former Fed economist says. An ex-US Treasury officials says the opposite https://t.co/vird0YjrfK
Proponents of Javier Milei's dollarization plan aren't arguing that it’s a silver bullet but rather a way to restore desperately needed price stability in Argentina. https://t.co/MR2HKr46nP via @Pat_Horan92
⚠️ EU-MERCOSUR DEAL'S FUTURE UP TO NEW ARGENTINA GOVERNMENT -SOURCES Full Story → https://t.co/dTkiIRGj0Z
Hyperinflation and Dollarization: A Path to Economic Stability for Argentina https://t.co/uh4Rvk9qel from @aier
Argentine feminist organization tries to stop Javier Milei from becoming president by an organizing a choreographed dance performance. Despite their dance, Milei will be sworn in on December 10th. 🇦🇷 https://t.co/24ql34bNK7
Last week, far-right politician Javier Milei was elected president in Argentina on a platform that promised to slash public spending, abolish the central bank, and dollarize the economy. https://t.co/vjM4q0D4QT
Javier Milei Faces a Herculean Task in Argentina https://t.co/7262XYb9UV
A self-described "anarcho-capitalist," Javier Milei has positioned himself as a leader for those frustrated with corruption and mismanagement of Argentina's government and economy. https://t.co/LrpK0NIVmz
Last week, far-right politician Javier Milei was elected president in Argentina on a platform that promised to slash public spending, abolish the central bank, and dollarize the economy. https://t.co/iXNHCvCyD9
Patrick Horan explains why Javier Milei's dollarization plan is the best option for monetary reform in Argentina. https://t.co/MR2HKr46nP
Argentinian President-elect @JMilei’s economic agenda aligns with the libertarian belief that the state’s role and size must be dramatically reduced. That does not bode well for the future of Argentina’s economy, notes @QMGPI’s @PaolaSubacchi. https://t.co/Yu36YITdaD
ARGENTINA'S INCOMING FOREIGN MINISTER SAYS COUNTRY WILL NOT JOIN BRICS BLOC (Reuters) Argentina's incoming Foreign Minister Diana Mondino says the country will not join the BRICS grouping of developing nations in a post on social media X on Thursday. https://t.co/0V7yItiMCv
Argentina Will NOT Join Brics Group – Government of Javier Milei Turns Away From China, Eyes Stronger US Ties via @gatewaypundit https://t.co/SwGeFfi14N
⚠️ ARGENTINA'S MILEI TAPS CONSERVATIVE EX-RIVAL BULLRICH AS SECURITY TSAR Argentine President-elect Javier Milei has picked conservative election campaign rival Patricia Bullrich as his security minister, his office said on Friday, another signal of the outsider libertarian… https://t.co/CvBYmgxsWX
CAN ARGENTINA REALLY DOLLARIZE?? We've been getting a lot of requests to talk about this. So we had on the great @Brad_Setser to talk about the theory and practice of converting the country's currency. https://t.co/bkbhaMsquw
Argentina's president-elect has suggested dollarizing the economy, but is it a realistic option for his country https://t.co/3ODtpPITYP
Argentina's president-elect has suggested dollarizing the economy, but is it a realistic option for his country https://t.co/jNBefyw4Hi
A self-described "anarcho-capitalist," Javier Milei has positioned himself as a leader for those frustrated with corruption and mismanagement of Argentina's government and economy. https://t.co/0PbR68vfUW
BREAKING: A high-ranking member of Argentine President-Elect Javier Milei’s transition team officially announces that Argentina under Milei will reject the previous government’s agreement to join BRICS in January. 🇦🇷 https://t.co/l8G9E3wsOs
Argentina 🇦🇷 has declined an invitation to join the BRICS https://t.co/HFtEb0eg4L
BREAKING: Argentina will NOT be joining BRICS under new Milei administration https://t.co/4CJZep6Bbc https://t.co/4CJZep6Bbc