Home » today » Business » Milei talks about signs of economic recovery in Argentina – 2024-04-15 22:01:39

Milei talks about signs of economic recovery in Argentina – 2024-04-15 22:01:39

Javier Milei, president of Argentina.

The president of Argentina, Javier Mileycelebrated the economic results of the fiscal adjustment applied in almost four months of government and saw signs of economic recovery, from a telematic conference for the launch of a book in Paraguay on the fight against populism.

Milei highlighted that, in his short administration, in which he has applied measures with “crudeness” to confront the fiscal imbalance, Argentina has achieved successive falls in inflation, and “a zero fiscal deficit”, which results in a decline in the country’s risk. .

“We are on our way to 1,000 country risk points and with that the capital markets will open up again”the president predicted.

The country risk indicator JP Morgan In the Argentine case, it stood at 1,359 basis points for April 4, a figure that had not been recorded since January 11, 2021 (1,395 units), while the indicator marked maximums in June 2022 of 2,900 points.

«I am making the biggest adjustment in the history of humanity (…) We are doing what we said and we are being successful in doing it»Milei said that he connected electronically to the launch in Paraguay of the Argentine journalist’s book Edward Feinmann, ’10 lessons to get out of the populist trap’.

At the event, in which the former president of the Government of Spain also participated by video conference, Mariano Rajoy and the Venezuelan opposition leader, Juan GuaidóMilei had a dialogue with his Paraguayan counterpart, Santiago Pena.

The Argentine head of state emphasized that he is committed to “making Argentina great again” and added that to achieve this he has so far sent “a thousand structural reforms” and that he has “three thousand more pending,” but they have found the blockage in the political opposition that does not want to give up “its privileges.”

Despite the severe economic adjustment that causes a loss of purchasing power, with inflation that rose to 276.2% year-on-year last February, Milei highlighted at the event that it maintains a positive image greater than 50%.

Asked by the author of the book about when Argentina will achieve single-digit inflation, the president responded that such a drop “is not instantaneous,” given the problem generated by the Government of Alberto Fernandez (2019-2023) of having issued currency for an equivalent of “28 points of GDP in four years”, which increased “the monetary base five times.”

«Cleaning up all this monstrous imbalance is not simple», accepted the politician who specified that they left him “about 60,000 million dollars (55,350 million euros) of commercial debt in the Central Bank.” EFE (I)

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