![]() ![]() ![]() He also repeatedly claimed “taxes are theft” and called the “social justice” programs they finance an “aberration.”Īrgentina has an almost insurmountable $44 billion debt with the International Monetary Fund. On the campaign trail, Milei brandished a chainsaw to symbolize his desire to slash subsidies and drastically reduce state expenditure on social programmes. We are going to end the cancer of inflation,” Milei declared, attracting voters frustrated over decades of poor living standards. Milei, the self-described “anarcho-capitalist,” pledged to “dynamite” the central bank and “dollarize” the economy, by replacing the Argentine peso with the U.S. 13, year-on-year inflation hit 142.7 per cent in October, up from 79 per cent in August 2022, when Massa became the Minister of the Economy in the Peronist government.Ĭonsidering that neither the centre-right Mauricio Macri government, which ruled from 2015 to 2019, nor the current government of President Alberto Fernandez, a Peronist who has not sought re-election, succeeded in stabilizing Argentina’s economy, this proved fertile ground for Milei to rise. According to the data released by the country’s statistics agency on Nov. Now it ranks 66th, below Mexico and just above Russia and China.Īrgentinians are faced with runaway inflation and a looming recession. As late as the 1920s it ranked among the top five wealthiest countries in the world. The Peronist political movement has dominated politics for 16 of the past 20 years and has nine of the last 12 free and fair presidential elections before this.Īnd it has cost Argentina dearly. ![]() The Peronistas are populists who are hard to categorize as either left or right-wing, but they have been the bane of Argentine politics since Juan Peron first governed the country beginning in 1946. ![]()
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