Argentina's Economic Shock Therapy: Milei's Influence and Troubled Politics
Argentina's President-elect Javier Milei is doubling down on his plans for economic "shock" therapy to address the country's crises, including triple-digit inflation, rising poverty, and a lack of foreign currency reserves. Milei emphasized the need for deep spending cuts and a fiscal balance to avoid hyperinflation and widespread poverty. He intends to limit the size of the state and achieve a fiscal balance by the end of 2024, even if it means tough months ahead for the country. Milei's proposals, such as dollarizing the economy and shutting down the central bank, have divided opinions in Argentina.