“What makes his challenge so difficult is that Milei’s plan seems certain to make people’s lives worse long before they get better. Reduced government subsidies mean that Argentinians will pay more for electricity and transportation. A devalued peso will make imports more expensive. The annual inflation rate, de Bolle said, could roughly double to 300%.
In the meantime, the government spending cuts will derail economic growth.”
But at the same time, the strategy has sent the Argentine economy tumbling into a deep recession, and protests against his spending cuts have become frequent. Compared to a year earlier, the economy contracted 3.6% in 2024's first two months, the Financial Times said.
Also isn't he wanting to dump their currency to replace it with the dollar?
