Post by Cardinal de HereOn va enfin pouvoir savoir si le libertarisme avec un état minimaliste
ça marche. Javier Milei, l'économiste libertarien est devenu le nouveau
président de l'Argentine !
Il veut fermer la banque centrale de l'Argentine et laisser tomber le
peso pour le dollar ! Au fou !
https://www.rt.com/business/587679-argentina-economy-shock-therapy/
Argentina’s chainsaw-wielding newly elected president pledges economic
‘shock therapy’
Javier Milei has promised to shut down the central bank and ditch the peso
Argentina’s president-elect, Javier Milei, has promised “shock therapy”
to fix the country’s beleaguered economy, which has been hit by one of
the world’s fastest inflation rates and a looming recession, Bloomberg
reported on Monday.
Milei, who beat Economy Minister Sergio Massa in Sunday’s runoff
election, pledged radical measures for the Argentine economy that will
reportedly include shutting the central bank, ditching the peso for the
US dollar and slashing public spending.
Argentina is faced with a debt of $44 billion due to be paid to
international bondholders and the International Monetary Fund next year.
To cover the arrears, the country will require “a big current account
surplus amid a stabilization plan,” according to Martin Castellano, head
of Latin America research at the Institute of International Finance.
This puts Milei, a 53-year-old economist, former TV pundit, and one-time
legislator without executive experience, in front of an “enormous”
challenge at a time when state coffers are empty and inflation is
nearing 150%.
Argentina’s president-elect used to carry a chainsaw as a symbol of his
planned cuts but has shelved it in recent weeks to help boost his
moderate image.
“Milei’s ambitious vision of a market-friendly, small-state, dollarized
Argentina will finally be put to test. He has yet to clarify on timing
and process for dollarization — which, with negative reserves, doesn’t
seem feasible for the near term,” said Bloomberg’s Latin America
economist Adriana Dupita.
The extreme strategy, which resonated with voters suffering from soaring
poverty and economic malaise, has raised concerns among many economists
who fear that Milei’s “shock therapy sets Argentina on a path of deep
uncertainty.” Experts warn that dollarizing the $622 billion economy at
a time when international reserves are depleted could plunge the South
American nation into another spell of hyperinflation.