From the Associated Press, March 31:
Argentina’s poverty rate dropped to 38.1% in libertarian President Javier Milei ‘s first year in office, the nation’s official statistics agency reported on Monday, a closely watched measure reflecting the government’s progress wrestling down what had been among the world’s highest inflation rates.
The decline in poverty for the second half of 2024 — from July to December — marks an improvement from the 41.7% that Milei’s left-wing populist predecessors delivered for the second half of 2023. Milei swept to office late that year with a mandate to reverse the country’s economic decline brought about by years of reckless borrowing....*****... In the first half of 2024 — the first six months of Milei’s presidency — INDEC reported that Argentina’s poverty rate had soared to 53%. On Monday, INDEC reported that the poverty rate for the preceding six months had slid by 14.8 percentage points to just over 38%, a knock-on effect of rapidly falling inflation....
....MUCH MORE
Recently:
April 25 - What Milei Hath Wrought: IMF Growth Projections
May 5 - Newsweek has a different take on things:
Javier Milei Has Been a Disaster for Argentina | Opinion
Just over a year into President Javier Milei's radical experiment in Argentina, his government boasts of an economic miracle: a record fiscal surplus, a stronger currency, and surging market optimism. But behind these numbers lies a brutal truth. Milei's program—one of the most austere in history and cheered on by figures of the global far right—is tearing apart Argentina's social fabric and democratic institutions, leaving millions in deepening poverty and despair.
The cost of this "miracle" is paid by children who go to underfunded schools, pensioners who can't afford medication, and women escaping domestic violence only to find state-run shelters closed.
The government's much-celebrated fiscal achievements are funded by gutting institutions meant to sustain human life. Today, more than half of Argentina's population lives below the poverty line, according to the Catholic University of Argentina. This is a direct result of Milei's devaluation of the Peso and cuts to government funding. Over the past year, tens of thousands of government workers have been dismissed. Food assistance to tens of thousands of families has been cut off. The Ministry of Women, Genders, and Diversity was eliminated. Education budgets have been slashed by 70 percent in real terms, threatening to shut down iconic public universities like the University of Buenos Aires....
....MUCH MORE
Perhaps ignorant of some recent history:
"Argentina Applies Law That Jails Hoarders as Bread Surges"Argentina was the breadbasket of South America and, if you go back to the late 19th century, was one of the 10 richest countries in the world....
- Argentina Bars BNY Mellon And Oddly Blasts Sam Zell
- Argentina Death Spiral: Supermarket Price Freeze to Mask Inflation
- Bailing Ahead of an Argentine Expropriation? Soros-backed Adecoagro Selling Land, Banking Cash (AGRO)"
- "Where Are We Going and Why Are We in This Handbasket? Argentina Under Cristina Fernandez de Kirchner
- Argentina on the Brink of Collapse
- Zeitgeist: 700,000 Gather to Protest Government of Argentina's Cristina Fernandez de Kirchner
- Argentina Raises Policy Rate By 9.5% To 69.5%
....Controlling soaring prices, tackling high debt levels and reining in government spending in South America’s second largest economy are at the top of the agenda for Argentina’s latest economy minister, Sergio Massa.
Mr Massa, who is the third person to hold the post since early last month, aims to calm inflation using a more conventional approach than his predecessors....
So, not an adherent of the Havenstein - Powell school of central banking.
- A Cautionary Tale: "Argentina files criminal charges against consulting firm for publishing inflation data"
