Four months into his presidency, Argentine President Javier Milei has implemented significant economic measures aimed at stabilizing the country's economy. His economic team projects a faster slowdown in monthly inflation than analysts had anticipated. This comes in the context of Argentina having one of the highest inflation rates globally, at 138% per year, and being ranked as the most miserable country in the Latin America & Caribbean region and the world. Milei's initial strategy involved devaluing the Argentine Peso by 50% to align closer to the U.S. dollar's value in the parallel retail market, a move influenced by the Austrian School of economics to combat triple-digit inflation. Additionally, Argentina's central bank has cut its key interest rate four times under Milei's administration, betting on a continued deceleration of inflation. Despite these efforts, Milei has not yet succeeded in fully dollarizing the economy.
Javier Milei Fuels Wild Rally That Makes Peso No. 1 in World https://t.co/aZzrSB2WN8
Javier Milei vs. the Status Quo | Octavio Bermudez Unsurprisingly, Javier Milei’s free-market and antistate initiatives face opposition in Argentina. Whether he is successful depends on his being able to politically outlast his collectivist opposition. https://t.co/gzlC4CFbk3
Javier Milei Sparks Wild Rally That Makes Peso No. 1 in World https://t.co/V8XzDuoWXC "Big bangs" are typically good policy if the can be sustained politically. Worked for Poland and Greece, but there was a lot of pain.
"Four months into office, Argentine President Javier Milei has pulled off a critical feat in a country long ravaged by runaway inflation: He stabilized the currency." 👀 https://t.co/Yivfo07NkR https://t.co/rF6CXnOBYh
#ARGWatch🇦🇷: Argentina registers the WORLD'S 3RD HIGHEST INFLATION RATE at 138%/yr on the #HankeInflationDashboard. Pres. @JMilei, Inflation will continue to SOAR until you OFFICIALLY DOLLARIZE. https://t.co/KYFz0CAsQO
Argentina’s central bank cuts its key interest rate for the fourth time since Javier Milei took office as officials bet on a sustained slowdown in inflation https://t.co/TtDrDtUgGK
Four months into office, Argentine President Javier Milei has pulled off a critical feat in a country long ravaged by runaway inflation: He stabilized the currency https://t.co/KG3tiyu2iG
#EgyptWatch🇪🇬: In Egypt, the name of the game is SKY-HIGH INFLATION, MOUNTAINS OF DEBT, & RAMPANT CORRUPTION. On this week's #HankeInflationDashboard, Egypt registers the WORLD'S 8th HIGHEST INFLATION RATE at 68%/yr. https://t.co/FWIJT7cnoz
Upon taking office, Milei’s plan was to devalue the Peso by 50% setting it closer to the U.S. currency’s value on the parallel retail market. It’s how the Austrian School quells triple digit inflation. He told everyone this would happen but Tits McGee doesn’t understand economics https://t.co/NXsGrZnRcK
#ARGWatch🇦🇷: On Hanke’s 2023 Annual Misery Index, Argentina ranks as the MOST MISERABLE COUNTRY IN THE LATIN AMERICA & CARIBBEAN REGION AND THE WORLD. No shocker there. Since taking office, @JMilei has failed to dollarize and inflation has soared. https://t.co/1B60l05tGB
#HankeInflationDashboard: This week's top 5 inflaters: 1.🇿🇼Zimbabwe (2,485%/yr) 2.🇸🇩Sudan (143%/yr) 3.🇦🇷Argentina (138%/yr) 4.🇸🇾Syria (101%/yr) 5.🇨🇺Cuba (95%/yr) https://t.co/0Wr6e4NCLb
Javier Milei’s economic team sees monthly inflation slowing much faster than analysts anticipate, a rare insight into his advisers’ projections as he tries to pull Argentina out of crisis. https://t.co/H2lGqCAAgr