Argentine President Warns of Hard Times Ahead
Argentine President Javier Milei forewarned of challenging times to come as the government embarks on a new phase of no-money issuance, referred to as a “monetary policy upgrade.” He reassured the public about the rise in the blue dollar and highlighted the financial surplus achieved by his administration by the end of June.
Milei’s administration aims to eliminate the fiscal deficit, quasi-fiscal deficit, and monetary issuance in the next six months to eradicate inflation in Argentina. The government plans to inject pesos into the market to stabilize the exchange rate and accelerate the disinflation process. Economy Minister Luis Toto Caputo and Presidential Spokesman Manuel Adorni also expressed confidence in the new monetary policy strategy.