Javier Milei, the President of Argentina, has introduced a comprehensive economic reform package aimed at addressing the country's economic crisis, which includes slashing state spending and reducing the fiscal deficit.

The reform package also involves privatizing state-owned entities, deregulating state interference in the economy, and introducing a bill to penalize deficit financing.

Milei plans to devalue the peso by about half and has proposed a 10-point social contract with governors to be agreed upon by May 25.

The government has already terminated contracts with 50,000 civil servants and plans to reduce government ministries from 18 to 8.

Milei's economic reforms aim to change Argentina's economic model, reduce the fiscal deficit, and control inflation, which has soared to 140%.

The inflation rate reached 25.5% in December 2023, and the cumulative inflation rate in 2023 reached 211.4%, highlighting the need for urgent economic reforms.

The government has deployed police to stop protesters from blocking roads, and Milei has submitted a law to parliament to discuss economic reforms, which include tax cuts and privatization of schools and healthcare.

The government aims for zero budget deficit next year, and subsidies for electricity, gas, and public transport will be abolished by 2026 as part of the efforts to reduce public spending.

Price controls, including on food, have been abolished, and a bill has been introduced to parliament to privatize state-owned companies and increase export duties.

Argentina needs to make debt payments totaling over $2.8 billion from January 9 to February 1, 2024, and Milei's reforms may cause hyperinflation, according to some analysts.

The IMF has urged a quick economic restart, and Milei's reforms may push Argentina's economy into unpredictability, with 40% of the country's citizens trapped in poverty.

Milei's government has introduced various economic reforms, including slashing state spending and reducing the fiscal deficit, with the goal of achieving zero budget deficit next year.

The government plans to privatize 41 state-owned companies, including oil and gas YPF, as part of its economic reforms.

Milei's reform package also includes liberalizing the economy, privatization, and penal law, with hundreds of measures scrapped to liberalize the economy.

The government has devalued the peso by over 50 percent, which may have a significant impact on the economy and vulnerable populations.

Poverty levels in Argentina have reached 40 percent, with annual inflation exceeding 200 percent, making it essential to protect vulnerable populations from the potential negative impacts of reforms.

Milei's government has cut subsidies for fuel and transport, which may affect the poor and vulnerable populations.

The International Monetary Fund has agreed to disburse $4.7 billion to Argentina, providing some financial support to the country.

Milei's government proposes wide-ranging reforms in trade, taxation, and social areas, aiming to mitigate the worst economic legacy in Argentine history.

However, the reforms have sparked strong controversy among citizens and parliamentarians, with some arguing that they may worsen the economic situation for vulnerable populations.

Milei has warned of economic disaster without the approval of reforms, emphasizing the need for immediate and strong action to address the national emergency.

The government has introduced an emergency presidential decree to deregulate the economy, which may have significant implications for the country's economic future.

Milei's government faces opposition to economic reforms, with trade unions protesting against the reforms, saying they will hurt the poor.

The government has announced a 10-point social contract to redistribute taxes, which may help address issues of inequality and poverty.

However, economists have warned of a lack of safety net for vulnerable populations, making it essential to implement measures to protect them from the potential negative impacts of reforms.

Milei's government has cut central government departments from 18 to 8, reducing government spending, but potentially affecting public services.

The government has also introduced a tax amnesty as part of the economic reforms, aiming to increase revenue and stimulate economic growth.

Argentina's debt remains an acute problem, with payments of over $2.8 billion due in early 2024, making it essential to implement effective economic reforms.

China has promised a $6.5 billion currency swap to Argentina, but access is uncertain, highlighting the need for diversified economic partnerships.

Milei's government aims to achieve economic growth and stability, but it is crucial to ensure that the benefits of growth are shared equitably among different segments of society.

The government's economic shock plans may impact vulnerable populations negatively, making it essential to implement measures to protect them.

Milei's government has announced plans to shut the central bank and ditch the peso, introducing the US dollar as legal tender in Argentina, which may have significant implications for the country's economic future.

The government has also proposed slashing spending and dollarization, which may help stabilize the economy but potentially leave more people in trouble.

Milei's administration is a major gamble, with drastic fiscal reforms planned, including introducing "shock therapy" to rescue the economic crisis.

The inflation rate is over 100% in Argentina, with over two-fifths of the population in poverty, making it essential to implement effective economic reforms.

Milei's government lacks a majority in parliament, needing other parties for reforms, which may affect the implementation and effectiveness of the reforms.

Argentina faces a severe economic crisis, with inflation over 140 percent, and about 40 percent of the population living below the poverty line, making it essential to implement measures to protect vulnerable populations.

Milei's government has introduced various measures to address the economic crisis, including a comprehensive reform plan to privatize state-owned entities and deregulate state interference in the economy.

The plan includes a 10-point social contract to be agreed upon by May 25, and Milei has issued decrees repealing or amending hundreds of laws to facilitate the reforms.

Milei's economic reforms aim to change Argentina's economic model, reduce the fiscal deficit, and control inflation, which has soared to 140%.

The government has deployed police to stop protesters from blocking roads, and Milei has submitted a law to parliament to discuss economic reforms, which include tax cuts and privatization of schools and healthcare.

The government aims for zero budget deficit next year, and subsidies for electricity, gas, and public transport will be abolished by 2026 as part of the efforts to reduce public spending.

Price controls, including on food, have been abolished, and a bill has been introduced to parliament to privatize state-owned companies and increase export duties.

Argentina needs to make debt payments totaling over $2.8 billion from January 9 to February 1, 2024, and Milei's reforms may cause hyperinflation, according to some analysts.

The IMF has urged a quick economic restart, and Milei's reforms may push Argentina's economy into unpredictability, with 40% of the country's citizens trapped in poverty.

Milei's government has introduced a comprehensive economic reform package aimed at addressing the country's economic crisis, which includes slashing state spending and reducing the fiscal deficit.

The reform package also involves privatizing state-owned entities, deregulating state interference in the economy, and introducing a bill to penalize deficit financing.

Milei plans to devalue the peso by about half and has proposed a 10-point social contract with governors to be agreed upon by May 25.

The government has already terminated contracts with 50,000 civil servants and plans to reduce government ministries from 18 to 8.

Milei's economic reforms aim to change Argentina's economic model, reduce the fiscal deficit, and control inflation, which has soared to 140%.

The inflation rate reached 25.5% in December 2023, and the cumulative inflation rate in 2023 reached 211.4%, highlighting the need for urgent economic reforms.

The government has deployed police to stop protesters from blocking roads, and Milei has submitted a law to parliament to discuss economic reforms, which include tax cuts and privatization of schools and healthcare.

The government aims for zero budget deficit next year, and subsidies for electricity, gas, and public transport will be abolished by 2026 as part of the efforts to reduce public spending.

Price controls, including on food, have been abolished, and a bill has been introduced to parliament to privatize state-owned companies and increase export duties.

Argentina needs to make debt payments totaling over $2.8 billion from January 9 to February 1, 2024, and Milei's reforms may cause hyperinflation, according to some analysts.

The IMF has urged a quick economic restart, and Milei's reforms may push Argentina's economy into unpredictability, with 40% of the country's citizens trapped in poverty.

Milei's government has introduced various economic reforms, including slashing state spending and reducing the fiscal deficit, with the goal of achieving zero budget deficit next year.

The government plans to privatize 41 state-owned companies, including oil and gas YPF, as part of its economic reforms.

Milei's reform package also includes liberalizing the economy, privatization, and penal law, with hundreds of measures scrapped to liberalize the economy.

The government has devalued the peso by over 50 percent, which may have a significant impact on the economy and vulnerable populations.

Poverty levels in Argentina have reached 40 percent, with annual inflation exceeding 200 percent, making it essential to protect vulnerable populations from

Javier Milei, the President of Argentina, has introduced a comprehensive economic reform package aimed at addressing the country's economic crisis, which includes slashing state spending and reducing the fiscal deficit.

Title:

Content: Argentine President Pledges Economic Reform in a Passionate Speech to Congress | Deutsche Welle Introduces Germany | DW | 02.03.2024
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The political climate of the times
Argentine President vows to push for economic reform
In a speech to the National Assembly on Friday, Argentina's new president, Miguel Millay, vowed to continue to push for economic reform, whether or not he has the support of the National Assembly.
He said that if the economic model is not transformed, "Argentina has no future."
Milley told lawmakers he would continue to push through reforms with or without congressional support.
Argentina ’ s new liberal president, Javier Milei, delivered a passionate speech to Congress on Friday (March 1).
He said he "will continue to push" for economic reform.
The Argentine leader, who describes himself as an "anarcho-capitalist," promised to slash state spending and reduce the government's fiscal deficit.
“We ’ re going to completely change this country. ”
Millet told lawmakers that he would continue to push ahead with reforms, whether or not he had the support of Congress.
He said "we will not back down, we will continue to move forward...
Whether it is through laws, presidential decrees or amending regulations, "he added," We will change this country forever...
with or without the support of political leaders, with or without all the legal resources of the executive branch ".
"I ask for patience and trust... It will take a while for us to see the results of the economic restructuring and the reforms that are being implemented," he added.
If the economic model does not change, "Argentina has no future"
Millay said he would introduce a bill that would penalize anyone — including the president — who financed the deficit by issuing additional money.
When he takes office, Mile will devalue the peso by about half.
"If we don't fundamentally change the economic model, then Argentina has no future," he said.
How will Argentina choose between China and the EU?
Milley's speech was repeatedly interrupted by cheers from supporters, who told Congress they would face "another animal" if they opposed his reform efforts.
Miley's Shock Therapy
After taking office in December last year, Millet issued decrees repealing or amending hundreds of laws aimed at curtailing the power of trade unions and deregulating state interference in the economy.
However, his claims met with resistance, and the court issued a ruling halting these measures.
Miller proposed a comprehensive reform plan, seeking to privatize state-owned entities and weaken labor protection.
The bill was voted down by lawmakers last month.
It includes the power to delegate to the executive branch for one year and the power to pass laws by decree on the basis of "economic emergencies".
Millet ’ s shock economic measures boosted the market, but sparked nationwide protests and strong opposition from labor unions.
Trade unions say the reforms will hurt the poor.
Despite his harsh words to lawmakers, the Argentine president struck a more conciliatory tone in his interactions with governors, proposing a 10-point “social contract ” agreed by May 25 that includes a“ rediscussion ” of the current tax distribution between the federal government and provincial governors.
Mire and the provincial governors have also been at loggerheads over the issue of funding cuts.
This week, when the governor threatened to cut off energy supplies to the rest of Argentina due to a funding dispute, the dispute heated up.
(Reuters, Associated Press, Agence France-Presse)
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What issue did Milei want to address without printing money?

The reform package also involves privatizing state-owned entities, deregulating state interference in the economy, and introducing a bill to penalize deficit financing.

What issue did Milei want to address without printing money?

Milei plans to devalue the peso by about half and has proposed a 10-point social contract with governors to be agreed upon by May 25.

The government has already terminated contracts with 50,000 civil servants and plans to reduce government ministries from 18 to 8.

Title:

Content: Log in to the mail
Argentina ’ s president says he will lay off 70,000 civil servants
Argentine President Javier Miley plans to dismiss about 70 thousand civil servants, contracts with some of them have already been terminated.
This is reported by La Politica Online.
Miley noted that contracts with 50 thousand civil servants have already been terminated.
“Please note that now the number of contracts is reduced and 70 thousand of them will be canceled, ” he said.
Miley also noted that he was “proud ” of the abolition of public works, as they are“ a hotbed of corruption. ”
However, the Secretary General of the Association of state workers Rodolfo Aguiar said that the head of state does not have the right to dismiss 70 thousand state employees, writes Pagina 12.
“Today, protests have multiplied across the country, and conflicts in the state will continue to escalate.
We are going to continue the fight to prevent any illegal and unjustified dismissals in the state administration, ” he said.
Miley took office as President of Argentina on December 10, 2023.
During his election campaign, Miley promised to liquidate the country ’ s Central Bank and replace the national currency with the US dollar.
The politician also said that the value of the peso fell below acceptable values, and the Central Bank of Argentina should “blow up ”.
In addition, he criticized the idea of   global warming, advocated the prohibition of abortion and the legalization of trafficking in human organs.
On December 21, 2023, the new head of state signed a decree on more than 300 reforms to liberalize the economy.
Among the measures introduced are privatization, export liberalization, refusal to regulate prices.
It is assumed that the implementation of reforms will allow the country to gain “freedom ”.
Rambler: top news

Milei's economic reforms aim to change Argentina's economic model, reduce the fiscal deficit, and control inflation, which has soared to 140%.

Title:

Content: Argentina ’ s Trump was elected to scrap the central bank ’ s switch to the US dollar and freeze relations with China
▲ Argentine presidential candidate Javier Milei will take office on December 10. (Photo / Dazhi Images / Associated Press)
Journalist Wu Mei-yi / Comprehensive Report
Argentina ’ s president-elect Javier Milei, who is set to take office on December 10, has been described as an “irate far-right liberal ” and has even been dubbed“ Argentina ’ s Trump ”, vowing to fight inflation and carry out sweeping reforms, calling for the abolition of the central bank ’ s switch to the dollar, the abolition of most government ministries, the legalization of organ trade, and the freezing of relations with China.
But its victory has been praised by rightists around the world, and even Tesla CEO Musk is very optimistic.
On the night of his victory, Mirai won with 56% of the vote, far ahead of his center-left rival Sergio Massa ’ s 44%, declaring, “Today, the reconstruction of Argentina begins. ”
That night, however, the streets of Buenos Aires were filled with joy, celebration, worry and anger, with supporters excited and looking forward to the changes ahead, while leftists expressed shock and frustration.
Mirei has promised major reforms to address the “tragic reality ” of Argentina, where up to 40% of its 45 million citizens are trapped in poverty and inflation has soared to 140%.
But the Guardian says he could push South America ’ s second-largest economy into an unpredictable and potentially volatile future.
▲ Mirei supporters took to the streets to celebrate, but many people expressed concern and frustration.
(Photo / Dazhi Imaging / Associated Press)
The 53-year-old promised tax cuts, the abolition of the central bank, the abandonment of the peso to the dollar, the abolition of government ministries from 18 to 8, the phasing out of social welfare programs, and the severing of ties with two major trading partners, Brazil and China.
He opposes abortion and euthanasia, supports legalization of the sex trade, drug trade, and organ trade, and wants to privatize schools and the health care system.
Mirei was also described as eccentric, with many radical ideas, who denied the impact of climate change and questioned the history of the autocratic government ’ s crackdown on dissidents from 1976 to 1983, which killed 30,000 people and angered millions.
However, Mirei ’ s victory was also congratulated by far-right figures around the world.
Former US President Trump tweeted, "The world is watching! I am very proud of you."
You will turn your country upside down and really make Argentina great again.
“Argentina ’ s prosperity lies ahead, ” said X boss and Tesla CEO, Jair Bolsonaro, a former president of Brazil, calling it a triumph of“ honesty, progress and freedom, ” and “hope shines again in South America. ”
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What economic issue did Milei want to address?

What issue did Milei want to address without printing money?

The inflation rate reached 25.5% in December 2023, and the cumulative inflation rate in 2023 reached 211.4%, highlighting the need for urgent economic reforms.

Title:

Content: 【 Printing 】
【 Page 1 Page 2 】
International observation _ "shock therapy" caused prices to rise in Argentina
Related LINKS http: / / www.CRNT.com 2024-01-17 16: 45: 02
BEIJING, Jan. 17 (Xinhua) -- In the more than a month since he took office, Argentine President Emile Millet has introduced a series of “shock therapy ” reforms aimed at saving the economy, with a view to reducing the fiscal deficit and controlling inflation.
Since the introduction of the new policy, prices in Argentina have soared and the quality of life of the population has declined, and opposition parties and trade unions have raised doubts.
In his inauguration speech last December, Millet said Argentina faced a “critical ” economic situation, with high inflation, rising poverty and difficulties in obtaining external credit support.
Argentina needs “shock therapy ” to save the economy.
In the early days of his administration, Argentina will face a period of "stagnation", during which economic data will be worse than before.
The Millet government introduced a series of policies to reduce the deficit, including reducing the number of government departments from 18 to 9, reducing government subsidies for energy and transportation, and halting tenders for new public works.
The new government also devalued the official exchange rate of the Argentine peso from about 400 pesos to about 800 pesos to the US dollar and eased import controls.
In addition to direct fiscal and economic measures, the Milai government is also promoting the repeal and amendment of more than 200 laws to ease government and legal controls on domestic economic sectors and to facilitate import and export trade.
In addition, Millet and his team have said that "dollarization" is the medium-term goal of his administration, but so far has not released a "dollarization" roadmap.
After a series of new policies, prices in Argentina have risen sharply.
Argentina ’ s National Institute of Statistics and Census released a report on the 11th, saying that the country ’ s inflation rate reached 25.5% in December 2023 and the cumulative inflation rate in 2023 reached 211.4%, both setting records since 1990.
Food prices in Argentina have almost doubled since December 2023.
For example, in early December, the supermarket price of a kilogram of beef in Argentina was about 4,000 Argentine pesos (about RMB 35), and in early January, it has risen to about 8,000 Argentine pesos (about RMB 70).
Many families have had to switch to cheaper pork and chicken because of the soaring price of beef.
In an interview with local media, an executive at a food company in Argentina said the retail price of its products rose by an average of 40% to 50% after the new policy was announced.
【 Page 1 Page 2 】
【 Printing 】

What economic issue did Milei want to address?

The government has deployed police to stop protesters from blocking roads, and Milei has submitted a law to parliament to discuss economic reforms, which include tax cuts and privatization of schools and healthcare.

Title:

Content: More than 300 economic reform measures in Argentina rebounded, new president ignored: urged Congress to speed up deliberation
Written by external sources (international)
Published: Updated:
After becoming president of Argentina, Javier Milei, known as the “Trump of Argentina, ” launched a“ shock therapy ” and issued an economic decree with more than 300 reforms, including privatization of state-owned enterprises, an end to export restrictions and deregulation.
According to the US media "New York Times", Reuters and other foreign media reported on December 23, Argentina's national inflation has accelerated rapidly in the past two weeks, and more than a dozen provinces have declared a state of economic emergency.
In recent days, people across Argentina have taken to the streets to show their dissatisfaction with the Mirai government.
However, Millet remained unmoved and called for a special session of parliament to speed up the implementation of the reform policy.
“High inflation has become synonymous with Argentina, and people are used to rising prices.
But after Millet took office, people ’ s lives became more painful. ”
The New York Times reported on the 23rd that in the past two weeks since Millet became president, prices in Argentina have soared at a dazzling rate.
The owner of a bar in the Argentine capital Buenos Aires has seen the price of beef soar by 73% and the price of cucumber by 140%; a Uber driver says she now pays 60% more for filling the tank; and a father says he pays twice as much for diapers as he did last month.
The report quoted government data as saying that the price of gasoline has recently soared by 60%.
There are also analysts who predict that Argentine house prices will rise another 25% to 30% in the near future; from now until February next year, house prices will continue to rise 80%.
Argentine President Javier Milei announces economic measures in a televised speech in Buenos Aires on December 20, 2023.
This is a screenshot of a video released by the Argentine government.
(ARGENTINE GOVERNMENT TV / via REUTERS TV / Handout via REUTERS)
“We ’ ve been worried since Milai won, ” said Fernando Galli, 36, who was pessimistic about the situation.
He is a high school philosophy teacher in Buenos Aires and is raising two young daughters (one 6 years old and one 18 months old).
The New York Times said that most Argentines are struggling to figure out how to make ends meet, and every time they buy necessities, it is like taking a complicated economics course.
As President, Argentina is in the midst of a severe economic crisis, with a cumulative inflation rate of 142.7% and a poverty rate of more than 40% over the past 12 months.
Argentina is also facing a debt crisis, with more than $44 billion owed to the International Monetary Fund.
Since this year, Argentina ’ s inflation rate has peaked at 8.4% in April, and some experts predict that Argentina ’ s gross domestic product will shrink by 3.1% this year and another 0.2% in 2024.
During his presidential campaign, Millet made "astonishing remarks" and proposed a number of "surprising" policy proposals. He promised to cut the central government departments from 18 to 8 and cut them to 9 on his first day in office, and quickly fulfilled this campaign promise.
In addition, he has promised to adopt so-called “economic shock therapy, ” advocating the“ burning up ” of poorly managed central banks, abolishing the peso, shifting to “dollarization ” across the board, slashing spending, allowing open carry of firearms, legalizing organ trade, and restricting abortion.
Milley himself issued an early warning.
At his inauguration ceremony on Dec. 10, Mr. Millet said publicly that he would reduce the size of government and rebuild the economy, something that would hurt at first, but “I would rather tell people the uncomfortable truth than the comfortable lies. ”
In Buenos Aires, Argentina, on December 21, 2023, demonstrators protest against the new policies of Argentina ’ s new president, Mirai, outside the parliament building. (Reuters)
Two days after taking office (12), Millet began to engage in "shock therapy", taking a series of measures, including cutting government spending, reducing consumer subsidies, and stopping tenders for new public works, in an attempt to reduce the fiscal deficit and control inflation.
Argentina ’ s economy minister announced on the same day that the new government lowered the official exchange rate to 800 pesos per US dollar, a 54% devaluation.
On December 20, Millet signed an emergency economic decree announcing more than 300 reforms, including the privatization of state-owned enterprises, the end of export restrictions and the relaxation of regulations, in order to achieve the "liberalization" of the Argentine economy.
The New York Times quoted economists as saying that although Millet's measures are necessary to solve Argentina's long-term financial problems, they also cause short-term pain.
At the same time, some analysts question the lack of safeguards for the poorest people in Argentina.
One Argentinian put it bluntly: “It is impossible for people ’ s wages or incomes to adapt to this rate of inflation. ”
Thousands of people, led by representatives of the unemployed, took to the streets of Buenos Aires on Monday to stage the first mass protest since the Mirai government came to power against the new government ’ s “economic shock therapy ” and austerity policies, demanding more support for the poor.
Demonstrators hold flares outside the parliament building in Buenos Aires, Argentina, on December 21, 2023, to protest against the new policies announced by Argentina ’ s new president, Miguel Millay. (Reuters)
In the face of public dissatisfaction, the Milai government did not move.
On the day of the protests, the Argentine government deployed a large number of police to stop protesters from blocking roads.
The Millet government has also threatened to take tough action against any group of organisations trying to thwart its plans through disruptive protests, and those blocking roads could lose their right to state benefits.
Manuel Adorni, a spokesman for Millet, also responded that higher inflation is an inevitable process to repair Argentina ’ s “distorted economy. ”
"There are many difficult and unresolved problems in Argentina, and we have to start solving them," he said.
We will inevitably experience months of high inflation, "he said.
On the evening of the 22nd local time, Millet said that he had submitted the law to the Argentine parliament on the same day, and called on the parliament to convene a special session between December 26 and January 31 to discuss the relevant issues.
Reported that the current parliament is in recess, the next meeting is scheduled for March next year.
This article is authorized by the Observer Network

What does Milei promote in terms of healthcare and education?

Individuals to pay for their own services

The government aims for zero budget deficit next year, and subsidies for electricity, gas, and public transport will be abolished by 2026 as part of the efforts to reduce public spending.

Title:

Content: December 28, 14: 30
Opinions
“No money ”: the new President of Argentina introduced the first economic reforms
Elena Kondratieva about the shock measures of Javier Miley in a country with 40% poverty
President of Argentina Javier Miley
Argentina ’ s new president, Javier Miley, in his first speech as head of state, warned the country of the need for shock measures, and in December the first phase of his plan to save the economy took shape.
True, it does not contain many election promises and there are things absolutely opposite – the new government is going to raise export duties and taxes contrary to the ideals of libertarianism, which the Argentine leader calls himself a representative of.
The authorities attribute the inconsistencies to the difficult economic situation, which requires the adoption of unpopular measures.
Both Miley and his economy minister, Luis Caputo, said the measures they were taking ran counter to their beliefs.
But, according to them, this is the lesser evil – on the other side of the scale they call hyperinflation and catastrophic impoverishment of the population.
On the third day of the government, December 13, Caputo announced the first steps of the new government, including a devaluation - the official rate of the dollar soared from 366 pesos to 800 pesos.
Currency restrictions in force in the country since 2019 have been maintained.
The authorities admit that there are no conditions for their cancellation until the government solves the problem with the debt instruments of the Central Bank.
Nevertheless, the devaluation, stronger than many experts and ordinary people expected, allowed to narrow the gap between the official and the so-called blue exchange rate, which is used in the informal exchange market.
Today, the latter is about 1,000 pesos per dollar.
About the same time he was on the eve of the announcement of Caputo.
The devaluation, combined with the end of the programs of freezing of prices, spurred the already high inflation.
According to experts, by the end of December it will be about 30%.
In November, the price increase was 12.8%.
Miley ’ s government calls its main task for next year a zero budget deficit.
The task is extremely ambitious, given that in October the International Monetary Fund (IMF) predicted that Argentina, with the necessary reforms, will be able to reach a surplus budget only by 2028.
To achieve this goal, the new government, apparently, will have to work hard with the same chainsaw, which has become a symbol of Miley ’ s election campaign.
In the course of the election campaign, the president has already emphasized that the state and the so-called caste, the establishment of the country, will pay for his spending reduction program, and "people will not be touched."
As the first measures show, this principle has proved to be very broadly interpreted.
So, among the first measures, Caputo announced the gradual abolition of subsidies for electricity, gas and public transport.
Today, Argentinian households with low and middle incomes pay about 15-20% of the cost of electricity.
According to the plan of the authorities, the subsidies will be completely abolished by December 2026, but in 2024 they are going to spend $2.5 billion less on them.
Transportation subsidies are expected to save $1 billion next year.
Another article for saving will be government orders for infrastructure projects.
The government promises to abandon them completely.
“There is no money ” is a phrase that Miley constantly repeats and which his supporters print on T-shirts.
Reductions also affected the state apparatus.
The government of Miley changed the number of ministries from 18 to 9, almost halved the number of departments and announced the termination of more than 5 thousand labor contracts concluded in 2023.
Reforms signed by the President
The next step of the Mileus government was an emergency presidential decree, which was signed on December 20.
The Argentine Constitution gives the Head of State the power to change legislation without the prior approval of Parliament in an exceptional situation.
Miley, under this pretext, decided to include in the decree more than 300 articles that cancel or amend existing laws.
The head of state called the main goal of the document deregulation of the economy
For example, the government abolished price controls, including on food and health insurance programs.
Suppliers of the latter after the publication of the decree have already announced an increase in the cost of services by 40%.
Introducing his decree, Miley said that the state will no longer be able to restrict exports.
Deregulation also affected the aviation industry, the rental market, labor relations, tourism and various industries, including wine and sugar.
Some paragraphs raised serious questions about the justification of their inclusion in the emergency decree.
Thus, the document gives football clubs the right to become joint-stock companies.
Miley himself in an interview with LN + explained the need for this item by the fact that the measure will attract foreign investment to the country.
For the sake of investment, the government also repealed a law restricting the ownership of land by foreigners.
The decree is due to come into force on December 29 and can only be repealed by parliament if both chambers vote in favor.
It is not yet clear what will happen to the bill in Congress.
Miley's "Freedom Comes" coalition holds 37 of 257 seats in the Chamber of Deputies and 8 of 72 in the Senate.
They have allies in the opposition, mainly in the Alliance Together for Change (24 senators and 93 deputies), but they may not be enough.
The public also met the decree ambiguously, although Miley himself believes that he can successfully bring it to a referendum if blocked by parliament.
After the announcement of the reform in different parts of the capital, there was a noise from blows to pots - a traditional form of protest in Latin America.
In addition, opposition to the decree was expressed by the largest trade unions in Argentina, not excluding the strike, restrictions on which, incidentally, were imposed by the signed decree.
Mega-bill
Miley ’ s government completed the month with the introduction of a bill to parliament with a package of reforms covering not only the economy, but also criminal law, as well as electoral law, health care, education and defense.
In total, the document contains more than 660 articles.
Especially for its consideration, the executive branch convened an extraordinary session of parliament, which will last from December 26 to January 31.
Among the proposed reforms, I will highlight the increase in export duties.
In his first speech as head of state, Miley promised that the tightening of belts will fall on the shoulders of the state, not private business.
Nevertheless, the first package of bills included the establishment of a duty of 15% for agricultural products, which are now not subject to fees, and an increase from 31% to 33% of the duty for flour and oil.
The authorities promise to subsequently cancel the fees from exporters, but for now the government, they say, needs funds to get rid of the budget deficit.
There is no deadline for the fulfillment of the promise made to exporters.
The bill also included a tax amnesty and the privatization of 41 state-owned companies, including oil and gas YPF, airline Aerolineas Argentinas, Banco Nación Bank, geostationary communications operator ARSAT and railway company Ferrocarriles Argentinos.
Miley noted that the YPF process will take place after reforms within the company, which should increase its value.
This will be his second privatisation.
In 2012, the government of Cristina Fernández de Kirchner decided to return YPF into the hands of the state, expropriating 51% of the shares of the Spanish company Repsol under the pretext of insufficient investment in the country ’ s oil and gas sector.
The conflict with the Spaniards was settled by the payment of compensation in the amount of $5 billion back in 2014, but in 2023 the consequences of the expropriation made themselves felt again – in September, the court of the southern district of New York ordered Argentina to pay $16 billion to the Burford Capital fund, which bought the bankrupt after the nationalization of the company, which owned 25% of the shares of YPF.
Miley ’ s emergency decree stated that the state ’ s share in Aerolineas Argentina ’ s shares would be transferred to its employees.
After that, the country ’ s largest airline, which has also been through privatization and renationalization, will stop receiving support from the budget, thanks to which, in particular, air traffic on not the most popular routes was maintained.
Given the emergence of new competitors in the context of deregulation of the aviation industry, Aerolineas Argentina is likely to be forced to reduce the number of destinations in the country.
At the same time, despite the declared "No Money", the bill provides for a reduction in tax on personal property and exemption from tax on the sale of real estate purchased before 2018.
Where to find money
The bill also included a painful topic for Argentina's foreign debt.
The government proposes to abolish the rule that obliges the executive branch to obtain permission from Parliament to issue dollar bonds in excess of the amount specified in the budget.
Argentina ’ s debt remains an acute problem for the country.
On December 21, the country made another payment as part of an agreement to settle its debt to the IMF.
The loan was issued to the country at the request of Mauricio Macri, who in May 2018, as head of state, turned to the IMF for help against the background of a sharp fall in the national currency.
The funds for the December tranche of $921 million to Argentina were provided by the Andean Development Corporation (ACR).
The country cannot afford to pay from its own reserves.
Already in the period from January 9 to February 1, 2024, Argentina will have to make new payments totaling more than $2.8 billion.
The government is trying to negotiate with the fund to change the agreement, but this does not negate the need to find funds to repay the payments.
One of the sources could be the $6.5 billion currency swap that China has promised to provide to the past government of Argentina.
The Miley administration is trying to gain access to it, but there seems to be little progress so far.
The situation for Argentina is complicated by the numerous statements of Miley and members of his coalition about relations with China.
During the election campaign and after the election, the head of state repeatedly said that he did not intend to promote relations with Beijing, because he did not want to do business with the Communists.
In addition, the foreign Minister of Argentina Diana Mondino said that the country will not enter the BRICS, where it was accepted at the end of the August summit of the group.
Beijing may also be concerned about the Miley administration ’ s refusal to accept government orders for infrastructure projects that fall under the purview of Chinese investors.
After taking office, Javier Miley and his team tried to mitigate past statements.
The new administration invited Chinese President Xi Jinping to the inauguration, which took place on December 10.
He himself, however, did not come, but Miley held a meeting with the Chinese delegation and sent a letter to the Chinese leader, in which he asked him to help gain access to the currency swap.
Another source of financing for Argentina could be the New Development Bank (NDB) of the BRICS, a formal application for accession to which was submitted in October by the then President of the country Alberto Fernandez.
However, the Miley administration apparently decided to freeze the process, since at the end of November Mondino said that Argentina was unable to join the NDB due to the inability to contribute capital.
It is possible that the government of Miley will decide to change its position, but so far this has not been reported.
Several Argentine experts in conversation with me complained that the Latin American country cannot afford to be guided by ideological prejudices in foreign policy, and regretted the missed opportunities in refusing to develop relations with China and BRICS.
Ghostly light at the end of the tunnel
It is possible to evaluate the reforms proposed by Miley differently, but we can definitely say that the Argentines in the coming months will have a hard time.
The government itself recognizes this.
In his first speech as head of state, Javier Miley openly said that the shock measures he proposed would lead to higher unemployment and poverty, as well as lower economic activity and real wages, but then "there will be light at the end of the tunnel."
At the same time, Miley does not call the timing of the onset of a bright
In an interview after the election, he said that it will take at least a year and a half to solve the problem of inflation.
In recent weeks, members of the administration have refrained from making any predictions, promising only to support the most vulnerable segments of the population and to do everything possible to ensure that the period of decline in economic activity passes as quickly as possible.
It remains an open question whether the residents of the country, where, according to the National Institute of Statistics and Census Indec, the poverty rate is already 40%, will have enough patience.
The opinion of the editor may not coincide with the opinion of the author.
The use of the material is allowed subject to compliance
of rules
citations of the site tass.ru

Price controls, including on food, have been abolished, and a bill has been introduced to parliament to privatize state-owned companies and increase export duties.

Argentina needs to make debt payments totaling over $2.8 billion from January 9 to February 1, 2024, and Milei's reforms may cause hyperinflation, according to some analysts.

The IMF has urged a quick economic restart, and Milei's reforms may push Argentina's economy into unpredictability, with 40% of the country's citizens trapped in poverty.

As of 2024, what are the statistics regarding poverty?

Milei's government has introduced various economic reforms, including slashing state spending and reducing the fiscal deficit, with the goal of achieving zero budget deficit next year.

What issue did Milei want to address without printing money?

The government plans to privatize 41 state-owned companies, including oil and gas YPF, as part of its economic reforms.

How many state-owned companies would be privatized under Milei's mega bill?

Milei's reform package also includes liberalizing the economy, privatization, and penal law, with hundreds of measures scrapped to liberalize the economy.

Title:

Content: Argentine president's reforms pass first parliamentary test
Cairo - Al Wasat Gate Saturday 03 February 2024, 09: 58 am
Argentina ’ s lower house of parliament has taken a first step toward approving the sweeping package of economic, social and political reforms put forward by President Javier Milli ’ s government, prompting angry protests from the opposition.
The bill received “general ” approval in principle on Friday in the House of Representatives, whose members will examine Melli ’ s bills in detail next week.
Ahead of the vote, Milley, 53, said on social media that lawmakers had "the opportunity to show the side of history" they wanted to be.
“History will judge them according to their work for the benefit of Argentines or for the continued impoverishment of the people. ”
Milley won a resounding victory in October's election, benefiting from anger over decades of economic crisis in the South American nation, where annual inflation exceeds 200 percent and poverty levels reach 40 percent.
Milley began his term by devaluing the peso by more than 50 percent, cutting subsidies for fuel and transport, halving the number of ministries and scrapping hundreds of measures to liberalize the economy.
His reform package touches on many areas of public and private life, from privatization to cultural issues, penal law, divorce and the status of football clubs.
Marathon debate and protests in front of parliament
The House of Representatives tentatively approved the package by 144 votes to 109 on the third day of a marathon debate accompanied by protests and confrontations in front of parliament.
The bill may be subject to amendments before being submitted to the Senate.
Lorena Viaverdi, a member of Milley ’ s far-right Progress of Freedom party, said: “We have two clear choices: either we become the world ’ s largest slum, or we continue on this path to prosperity and freedom. ”
Argentine government withdraws tax reforms from broad bill
But opposition lawmaker Leandro Santoro cited the 2001 economic and social crisis as an example of the dangers of free market reforms, saying, “We Argentines know what happens when the economic model focuses on adjustment and deregulation. ”
On Friday, police again fired tear gas at crowds of protesters in front of parliament.
It came just over a week after tens of thousands of Argentines took to the streets in a major challenge to Melli ’ s budget-cutting policies.
In support of Melli ’ s reforms, the International Monetary Fund (IMF) agreed on Wednesday to disburse about $4.7 billion to Argentina.
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suspended 366 decrees to ease economic controls and reduce spending.

The government has devalued the peso by over 50 percent, which may have a significant impact on the economy and vulnerable populations.

Poverty levels in Argentina have reached 40 percent, with annual inflation exceeding 200 percent, making it essential to protect vulnerable populations from the potential negative impacts of reforms.

As of 2024, what are the statistics regarding poverty?

What economic issue did Milei want to address?

Milei's government has cut subsidies for fuel and transport, which may affect the poor and vulnerable populations.

The International Monetary Fund has agreed to disburse $4.7 billion to Argentina, providing some financial support to the country.

Milei's government proposes wide-ranging reforms in trade, taxation, and social areas, aiming to mitigate the worst economic legacy in Argentine history.

Title:

Content: Argentine President Javier MilleReuters
To avoid the “disaster. ”
Argentine president calls for 'immediate' reforms
The President of Argentina, Javier Miley, warned of the consequences of the failure of the Congress in his country to approve the package of broad and deep reforms promoted by his government, saying that the lack of approval of this package will make the country face a "disaster of biblical dimensions," as he put it.
According to the Spanish news agency EFI, the president said in a message broadcast by Argentine radio and television that his government is doing what is necessary, adding: "Unless we do what is necessary now, we are heading towards an economic disaster of a magnitude not known to any living Argentine."
Miley defended the bill, which was sent to Congress days ago, saying it contained wide-ranging reforms in various areas.
This law gives the executive the necessary powers to act in the face of the emergency situation and avoid economic disaster, in addition to promoting deep reforms in the areas of trade, taxation, productivity, social, security and education.
“Parliamentarians will be able to reject the law and continue the model that has impoverished the country for a century or approve the initiative to bring about profound change. ”
Inflation expected to rise in Argentina as a result of government measures
The leader of the far-right La Libertad Avanza party justified the measures as necessary to try to "mitigate the worst legacy in history and leave the class model that plunges Argentines into misery".
Miley also called on citizens to ask parliamentarians to approve the bill, which sparked strong controversy because of its scope in terms of the delegation of powers to the President of the Republic and the size of the proposed reforms, while he told citizens: "Argentina is witnessing a national emergency that requires immediate and strong action."
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However, the reforms have sparked strong controversy among citizens and parliamentarians, with some arguing that they may worsen the economic situation for vulnerable populations.

How will Milei's reforms impact workers?

Milei has warned of economic disaster without the approval of reforms, emphasizing the need for immediate and strong action to address the national emergency.

The government has introduced an emergency presidential decree to deregulate the economy, which may have significant implications for the country's economic future.

Milei's government faces opposition to economic reforms, with trade unions protesting against the reforms, saying they will hurt the poor.

Title:

Content: The content originally appeared on: Al Jazeera – Latin America News

Argentine unions have begun a 12-hour strike in the capital to protest against tough economic reforms by President Javier Milei.

Wednesday’s demonstration is the most significant show of opposition to Milei’s spending cuts and privatisation plans since he took office last month and pledged to fix an economy dealing with 211 percent inflation.

The strike, coordinated by the umbrella union, the General Confederation of Labour (CGT), comes amid scrutiny of Milei’s two significant reforms: the “omnibus” bill going through Congress and a “mega-decree” deregulating the economy.

“Milei wants a country where poverty and informal work reaches 90 percent,” union member and national opposition deputy Hugo Yasky said on local radio station Radio Con Vos.

“Now there is no job creation. What there is now is widespread misery, people’s desperation, there are no measures to mitigate the damage they are causing.”

Demonstrators hold a placard that reads ‘down with the decree’ as they protest near the Pueyrredon Bridge during a one-day national strike, in Buenos Aires, Argentina [Agustin Marcarian/Reuters]

Earlier on Wednesday, the omnibus bill was approved by a committee in the lower congressional house, the Chamber of Deputies.

The mass strikes began at 12pm (15:00 GMT) and affected transportation, banks, hospitals, and public services.

Local airlines said they had been forced to cancel hundreds of fights due to the demonstration.

Protesters held placards that read “The homeland is not for sale” and “Eating is not a privilege” as some others held a giant puppet of Milei.

Another poster said, “Today’s retirees are yesterday’s workers, stop robbing them!”

Al Jazeera’s Lucia Newman, reporting from Buenos Aires, said it was “impossible” to determine the number of people attending the protest due to its scale.

“There seems to be a kind of unofficial agreement with the strikers and the security minister to allow these huge numbers of people to be here but only if they cannot disrupt traffic,” Newman said.

“It’s still very, very tense, and it’s an ongoing situation here, but it’s a huge turnout so far.”

Milei’s government said that the austerity measures are due to years of overspending that have left the South American country with huge debts to local and international creditors, including a $44bn deal with the International Monetary Fund.

“There is no strike that stops us, there is no threat that intimidates us,” Milei’s security minister and former presidential election rival Patricia Bullrich wrote on X.

“It’s mafia unionists, poverty managers, complicit judges and corrupt politicians, all defending their privileges, resisting the change that society chose democratically.”

Milei, an economist and former TV pundit, assumed the presidency after a shock win in last year’s general election.

How will Milei's reforms impact workers?

Who has opposed Milei's proposed layoff order?

The government has announced a 10-point social contract to redistribute taxes, which may help address issues of inequality and poverty.

However, economists have warned of a lack of safety net for vulnerable populations, making it essential to implement measures to protect them from the potential negative impacts of reforms.

Title:

Content: Argentina's President Saves Economy, 5,000 Government Employees Don't Continue Inflation, People Crash
International Center Tsai Sha-ling / General Report
Javier Milei, a far-right liberal economist known as “Trump Argentina, ” announced a“ shock therapy ” after his election as Argentina ’ s president to rescue a serious economic crisis with drastic fiscal reforms, insisting that it is normal for things to get worse until concrete results are achieved, calling on people to survive the inflationary boom, and adding to a series of reforms, including the layoffs of more than 5,000 government posts, means that Thousands of government employees will not be rehired.
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Speaking to supporters, Mirei declared that he was “unwinding the suffocating web of government control ” and changing a large number of regulations that are hindering economic growth, stressing:“ We have no choice, no time, no room for meaningless discussion. ”
Our country needs to take immediate action, "he said.
In order to reduce government spending, Mirei announced that he will not renew the contracts of government employees hired before he takes office in 2023, and that he will be sworn in as president on December 10 this year; employees hired before 2023 will not be affected for the time being, but the related contracts will also be reviewed.
The report pointed out that the 2023 as the demarcation point, apparently in response to the former president's proposed salary increase in the last year of his term.
With inflation expected to reach 200% by the end of the year, Mirei intends to accelerate measures, including privatization of state-owned companies, in the hope of boosting exports and investment, easing labor laws, reducing protections for employees, making it easier for companies to lay off workers, and banning state intervention in the rental housing market.
In addition, energy and transportation subsidies will also be cut, and some government departments will be abolished.
Whether Mirey ’ s shock therapy will save the economy is still unknown, but people have taken to the streets to protest against soaring prices.
Some economists believe that although such measures may be necessary to solve Argentina ’ s long-term financial problems, without an adequate safety net, the poorest people in society may struggle to survive and may not be able to survive until the country ’ s economy returns to normal.
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How will Milei's reforms impact workers?

Milei's government has cut central government departments from 18 to 8, reducing government spending, but potentially affecting public services.

The government has also introduced a tax amnesty as part of the economic reforms, aiming to increase revenue and stimulate economic growth.

Argentina's debt remains an acute problem, with payments of over $2.8 billion due in early 2024, making it essential to implement effective economic reforms.

What issue did Milei want to address without printing money?

China has promised a $6.5 billion currency swap to Argentina, but access is uncertain, highlighting the need for diversified economic partnerships.

Milei's government aims to achieve economic growth and stability, but it is crucial to ensure that the benefits of growth are shared equitably among different segments of society.

The government's economic shock plans may impact vulnerable populations negatively, making it essential to implement measures to protect them.

Title:

Content: Economy Minister Sergio Massa was the candidate for the ruling coalition. He has done the numbers, recognised defeat, and conceded in the presidential run-off.

Libertarian lawmaker Javier Milei will be Argentina's next president.

Background to this:

---

Argentina's economy has been smashed by triple-digit inflation, looming recession and rising poverty. The worst economic crisis in two decades.

Incoming president Milei is promising economic shock, with plans including:

  • shutting the central bank
  • ditching the peso
  • slashing spending
  • has criticized China and Brazil, says he won't deal with "communists", favours stronger ties with the US

Mileil now fronts up to:

  • government funds having run dry
  • a US$44 billion debt program with the International Monetary Fund
  • a highly fragmented Congress (no single bloc has a majority), he'll need backing from factions to pass legislation
  • Milei's coalition does not have any regional governors or mayors

Milei (left of screen) and Massa

How will Milei's reforms impact workers?

Milei's government has announced plans to shut the central bank and ditch the peso, introducing the US dollar as legal tender in Argentina, which may have significant implications for the country's economic future.

Title:

Content: Monday, 11 December 2023 01: 32 GMT
Argentina ’ s new president Javier Miley: We have no money, no alternative to austerity
(MENAFN- Al-Bayan)
Libertarian right-wing economist Javier Miley took office as president of Argentina on Sunday, three weeks after an outsider beat presidential candidate Sergio Massa by promising to cut social spending and shut down the central bank.
“I ’ ll say it again: we don ’ t have money, ” Miley told lawmakers and international leaders present that Argentina has no alternative to austerity in what he called“ shock therapy. ”
“Today marks the beginning of a new era.
Today the reconstruction of Argentina begins, "he said, ending his speech with his popular phrase:" Long live freedom. "
Among the attendees were Spanish King Felipe VI, Chilean President Gabriel Boric, Uruguayan Prime Minister Luis Lacal Bo, Paraguayan President Santiago Peña, Hungarian Prime Minister Viktor Orbán and Ukrainian President Volodymyr Zelensky.
Miley ’ s new government is due to announce its first actions Monday morning at a press conference, spokesman Manuel Adorney told reporters outside the country ’ s Capitol on Sunday.
Adorni confirmed that details were still being finalised, but said the press conference would be around 8 a.m. local time on Monday at the presidential palace Casa Rosada, Bloomberg news agency reported.
Sunday also marks the 40th anniversary of Argentina ’ s return to democracy after a military dictatorship.
Miley won the runoff on November 19 over former Economy Minister Sergio Massa.
Amid a severe economic crisis, Miley, the “anarchist capitalist, ” as he describes himself, vowed to radically transform the country.
He wants to introduce the US dollar as legal tender, abolish the central bank and several ministries and drastically cut social spending.
Since his election campaign, Miley has considerably toned down his speeches, postponing or discontinuing many of his original plans.
He also brought into his government a number of experienced and experienced politicians whom he had previously discredited as members of the “class ” he despised.
Miley does not have a majority in parliament, making him dependent on other parties if he hopes to implement major reforms.
Miley is leading Argentina in the midst of a severe economic crisis, where inflation is above 140 percent, and about 40 percent of the once-wealthy nation ’ s population lives below the poverty line.
The second largest economy in South America suffers from a bloated government sector, a decline in industrial production, and a large shadow economy that deprives the state of tax revenues.
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closing the central bank
dollarizing the Argentinian currency

The government has also proposed slashing spending and dollarization, which may help stabilize the economy but potentially leave more people in trouble.

Title:

Content: We Have No Money! Argentina ’ s President Inaugurated Trump Will Give “Electric Shock ” to Save the Country
International Center Tsai Sha-ling / General Report
Javier Milei, a far-right liberal economist known as "Argentina Trump", was recently elected president of Argentina, and officially announced his inauguration on the 10th, facing a serious financial crisis, Mirei said that only by taking electric shocks and shock therapy, there is a chance to save the national economy.
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In his inaugural speech on the 10th, Mirei warned that the country is running out of money and facing an inflation rate of more than 100%, only drastic and painful fiscal reforms can solve the country ’ s worst economic crisis in decades, angering that the previous government put Argentina on a path of hyperinflation.
“The bottom line is that there is no choice but to save, no choice but to electroshock treatment … We know that in the short term the situation will get worse, and then our efforts will bear fruit. ”
Mirai ’ s administration represents a major gamble in Argentina, where his proposed shock economic therapy, slashing spending, may stabilize the country ’ s economy, but it does not rule out leaving more people in trouble, given that more than two fifths of the country ’ s population are already in poverty.
But many voters who support Mirei believe that the country's situation is too bad to be worse, so even if Mirei's ideas seem radical, including the closure of the central bank and dollarization of the currency, they are willing to pay the bill: "He is our last hope."
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Milei's administration is a major gamble, with drastic fiscal reforms planned, including introducing "shock therapy" to rescue the economic crisis.

The inflation rate is over 100% in Argentina, with over two-fifths of the population in poverty, making it essential to implement effective economic reforms.

As of 2024, what are the statistics regarding poverty?

annual inflation rate of 211% is highest in 32 years

What economic issue did Milei want to address?

Milei's government lacks a majority in parliament, needing other parties for reforms, which may affect the implementation and effectiveness of the reforms.

Argentina faces a severe economic crisis, with inflation over 140 percent, and about 40 percent of the population living below the poverty line, making it essential to implement measures to protect vulnerable populations.

As of 2024, what are the statistics regarding poverty?

What economic issue did Milei want to address?

Milei's government has introduced various measures to address the economic crisis, including a comprehensive reform plan to privatize state-owned entities and deregulate state interference in the economy.

The plan includes a 10-point social contract to be agreed upon by May 25, and Milei has issued decrees repealing or amending hundreds of laws to facilitate the reforms.

Milei's economic reforms aim to change Argentina's economic model, reduce the fiscal deficit, and control inflation, which has soared to 140%.

What economic issue did Milei want to address?

What issue did Milei want to address without printing money?

What does Milei promote in terms of healthcare and education?

Individuals to pay for their own services

The government aims for zero budget deficit next year, and subsidies for electricity, gas, and public transport will be abolished by 2026 as part of the efforts to reduce public spending.

What issue did Milei want to address without printing money?

Price controls, including on food, have been abolished, and a bill has been introduced to parliament to privatize state-owned companies and increase export duties.

Argentina needs to make debt payments totaling over $2.8 billion from January 9 to February 1, 2024, and Milei's reforms may cause hyperinflation, according to some analysts.

The IMF has urged a quick economic restart, and Milei's reforms may push Argentina's economy into unpredictability, with 40% of the country's citizens trapped in poverty.

As of 2024, what are the statistics regarding poverty?

Milei's government has introduced a comprehensive economic reform package aimed at addressing the country's economic crisis, which includes slashing state spending and reducing the fiscal deficit.

What issue did Milei want to address without printing money?

The reform package also involves privatizing state-owned entities, deregulating state interference in the economy, and introducing a bill to penalize deficit financing.

What issue did Milei want to address without printing money?

Milei plans to devalue the peso by about half and has proposed a 10-point social contract with governors to be agreed upon by May 25.

The government has already terminated contracts with 50,000 civil servants and plans to reduce government ministries from 18 to 8.

Milei's economic reforms aim to change Argentina's economic model, reduce the fiscal deficit, and control inflation, which has soared to 140%.

What economic issue did Milei want to address?

What issue did Milei want to address without printing money?

The inflation rate reached 25.5% in December 2023, and the cumulative inflation rate in 2023 reached 211.4%, highlighting the need for urgent economic reforms.

What economic issue did Milei want to address?

The government has deployed police to stop protesters from blocking roads, and Milei has submitted a law to parliament to discuss economic reforms, which include tax cuts and privatization of schools and healthcare.

What does Milei promote in terms of healthcare and education?

Individuals to pay for their own services

The government aims for zero budget deficit next year, and subsidies for electricity, gas, and public transport will be abolished by 2026 as part of the efforts to reduce public spending.

What issue did Milei want to address without printing money?

Price controls, including on food, have been abolished, and a bill has been introduced to parliament to privatize state-owned companies and increase export duties.

Argentina needs to make debt payments totaling over $2.8 billion from January 9 to February 1, 2024, and Milei's reforms may cause hyperinflation, according to some analysts.

The IMF has urged a quick economic restart, and Milei's reforms may push Argentina's economy into unpredictability, with 40% of the country's citizens trapped in poverty.

As of 2024, what are the statistics regarding poverty?

Milei's government has introduced various economic reforms, including slashing state spending and reducing the fiscal deficit, with the goal of achieving zero budget deficit next year.

What issue did Milei want to address without printing money?

The government plans to privatize 41 state-owned companies, including oil and gas YPF, as part of its economic reforms.

How many state-owned companies would be privatized under Milei's mega bill?

Milei's reform package also includes liberalizing the economy, privatization, and penal law, with hundreds of measures scrapped to liberalize the economy.

suspended 366 decrees to ease economic controls and reduce spending.

The government has devalued the peso by over 50 percent, which may have a significant impact on the economy and vulnerable populations.

Poverty levels in Argentina have reached 40 percent, with annual inflation exceeding 200 percent, making it essential to protect vulnerable populations from

Poverty levels in Argentina have reached 40 percent, with annual inflation exceeding 200 percent, making it essential to protect vulnerable populations from

Poverty levels in Argentina have reached 40 percent, with annual inflation exceeding 200 percent, making it essential to protect vulnerable populations from