All the Answers
Well-known member
Javier Milei confirmed that he will close the Central Bank: “We are very successfully taming inflation” - Infobae
Source:
Javier Milei ratificó que cerrará el Banco Central: “Estamos domando con mucho éxito la inflación”
El Presidente presentó su libro en Madrid y dejó diversas definiciones políticas y económicas, con críticas a la oposición. Habló de competencia de monedas y del cepo cambiario. "Soy un liberal en un país de zurdos", afirmó
www.infobae.com
May 17, 2024
The President presented his book in Madrid and left various political and economic definitions, with criticism of the opposition. He talked about currency competition and the exchange rate. “I am a liberal in a country of lefties,” he said.
Javier Miley
Javier Milei presented his book “The Way of the Libertarian” in Madrid at the headquarters of the newspaper La Razón, of the Planeta Group, and, before a packed auditorium, he left several political and economic definitions with strong criticism of the opposition and the inheritance received. Among other things, the President confirmed that he will close the Central Bank, spoke about currency competition in line with Luis Caputo and said that he will lift the exchange rate.
“It is absolutely still standing,” was the response that the head of state gave without hesitation when asked if he finally planned to carry out the project of closing the state body , which was one of the main ideas of his electoral campaign.
In this sense, he reviewed his steps before arriving at Casa Rosada and described his victory in the elections as “a mistake”: “I always said that my case is a hymn to type 2 error . Type 1 is when you did everything right and it went wrong. Guy 2 did everything wrong and it turned out badly. I am an economist, who are not very well-liked people. Because of my specialization, I use a lot of mathematics, so it is a smaller segment. Furthermore, being a specialist in economic growth in a country sick with Keynesianism, less so. And also liberal in a
Following the same line, Milei recalled and questioned some of the measures implemented by Kirchnerism during the government of Alberto Fernández, such as price control, and gave a detail of the inflation numbers he received when he assumed the presidency of the country last December 10, 2023.
Milei at the presentation of her book in Madrid
"During the last stage of Kirchnerism, before we came to power, faced with the fact that prices were rising and agreements were not being fulfilled, and shortages appeared, which is why there is also a supply law that we have eliminated with The DNU sent the union gang with sticks to control prices . “It is clear that this is an aberration,” the President criticized as one of the mistakes made by the previous administration.
And he added: “ They left us with hyperinflation. When we arrived it was running at a rate of 1% per day, that is, 3,700 per year. In the second week of December it was already at 7500. The wholesale price was at 54%, which annualized gives 17 thousand and today the wholesale inflation data will be known with a truly phenomenal collapse. We receive the country with twin deficits for the equivalent of 17% of GDP. Think that 4 is a yellow alert, 17 imagine.”
In line with his speech, and in order to share the results of his economic policies in these first months of libertarian administration, the head of state assured that Argentina comes from a “decadence of more than 100 years” but when “the screw up is taken oppressor of the State to politics, societies flourish.”
The President's book 'The path of the libertarian'
“They told us that it was impossible to adjust the treasury more than one point and we had a very austerity policy and we ended up making an adjustment of 7 points of GDP, so now we can relax the conditions a little. We have had a financial surplus for 4 consecutive months. In less than five months we made a 14-point adjustment and began to move the debt from the Central Bank to the Treasury as it should have always been. "We are managing to direct inflation through a very tough fiscal policy and a sincerity of the exchange market," he stressed in this regard.
Likewise, the libertarian said that there are already indicators that show a recovery of the economy. “ It wasn't impossible, it is possible. You have to have the courage. Although the path is not uniform. You know where you want to go. In the middle there are obstacles that must be avoided and also those that launch torpedoes from outside, their own and those of others. “It is not an easy task,” he highlighted.
Finally, Milei recalled that when he assumed the Presidency the only option he had was economic shock because “gradualism always ends badly.” “We knew that the increase in savings was not going to have investments as a counterpart and it is the reaction in the numbers of the first part, that is why I told people that there was no money and that it was going to hurt,” she said.
And he concluded: “We hit the floor. Now, how is the recovery coming? In the short term, with the recovery of demand, with salaries beating inflation with food and drink, retirements beating inflation.”
