Milei fires Cavallo’s diplomat daughter after peso criticism

[IrishLad]

A very Kirchner move firing someone because they are related to someone that criticized a policy.

Milei removes Sonia Cavallo as Argentina’s ambassador to the Organisation of American States following criticism from her father, Domingo Cavallo.

Milei fires Cavallo’s diplomat daughter after peso criticism

Milei removes Sonia Cavallo as Argentina’s ambassador to the Organisation of American States following criticism from her father, Domingo Cavallo.

www.batimes.com.ar

 

[Larry]

A very Kirchner move firing someone because they are related to someone that criticized a policy.

Milei removes Sonia Cavallo as Argentina’s ambassador to the Organisation of American States following criticism from her father, Domingo Cavallo.

Milei fires Cavallo’s diplomat daughter after peso criticism

Milei removes Sonia Cavallo as Argentina’s ambassador to the Organisation of American States following criticism from her father, Domingo Cavallo.

www.batimes.com.ar

Agree! More and more economists will come out and call what the government is doing wrong. Cavallo is correct to call this a disaster. Sooner or later the true value of the peso will plunge. IMF funds don't look like they will be enough to get rid of the cepo either.

 

[Avocado]

A very Kirchner move firing someone because they are related to someone that criticized a policy.

Milei removes Sonia Cavallo as Argentina’s ambassador to the Organisation of American States following criticism from her father, Domingo Cavallo.

Milei fires Cavallo’s diplomat daughter after peso criticism

Milei removes Sonia Cavallo as Argentina’s ambassador to the Organisation of American States following criticism from her father, Domingo Cavallo.

www.batimes.com.ar

Milei is a coward for firing his daughter. What does anything her father says have anything to do with her?? Very similar to K's trying to control everything and punishing anyone that spoke against them or disagreed with them. This should show people that Milei can't stand criticism.

If anyone knows a disaster situation it is Cavallo. If he is saying there isn't enough money to lift the cepo that is a bad sign.

 

[Finance Prof]

Gotta love Milei for owning up to absolutely firing her for being his daughter! 🤣 No denying it.

Made Bloomberg

 

[RN in BA]

Gotta love Milei for owning up to absolutely firing her for being his daughter! 🤣 No denying it.

Made Bloomberg

At least he owned up to it. Something I don't understand is Milei probably will keep saying that they are very close to getting rid of the currency controls. He has been saying that for a while now and it sounds like they are not anywhere near getting rid of them. I guess it depends what his definition of very close is. Here is an old article from May saying they are very close.

Milei attacks ‘loudmouth’ critics as he denies peso-dollar lag

President attacks "loudmouth" economists critical of his exchange rate policy, defends economic programme and says Argentina is "very close" to removing currency controls.

www.batimes.com.ar

 

[Uncle Wong]

Does anyone have the blog post from Cavallo? I can't find it from those links. I don't think that you should be firing relatives just because of disagreements with relatives. If you can't stand the heat than get out of the kitchen. Seems like Milei was sending a message not to criticize the government at all. Do not think that is a winning long term strategy to punish those that disagree with you.

 

[earlyretirement]

Does anyone have the blog post from Cavallo? I can't find it from those links. I don't think that you should be firing relatives just because of disagreements with relatives. If you can't stand the heat than get out of the kitchen. Seems like Milei was sending a message not to criticize the government at all. Do not think that is a winning long term strategy to punish those that disagree with you.

I think someone posted it here before. I don't have time to find it but you should be able to read all the criticisms that Cavallo had here at this link below.

I agree with you @Uncle Wong. People should be able to disagree with President Milei without fearing for their jobs. Especially if this wasn't even her speaking out. It was her dad. There are a lot of economists that believe the same as Cavallo that the dollar is overvalued.

I've disagreed with several things that President Milei have done in the past including his stance on China which was totally wrong. Imagine if he fired people that told him he was totally wrong on China.

I actually agree that the peso is overvalued. I don't know anyone at all that believes the Argentine peso is not overvalued now. I also agree with Cavallo that once the CEPO is lifted the rate will go up.

Here is the part of this that I agree with:

An immediate exit from the exchange rate​

Another central point in Cavallo's criticism is the Government's refusal to liberate the foreign exchange market in the short term. According to the economist, postponing the unification of the exchange rate and the elimination of the strain generates distortions that affect the economic recovery.

"The complete elimination of the Cepo could mean the consolidation of monetary and exchange rate stability. If the Government continues to delay this decision, it will limit the positive impact of other measures, such as fiscal adjustment and the elimination of monetary issuance associated with the deficit," he said.

Cavallo warned that when the stock is finally lifted, there will be an inevitable exchange rate jump, but he insisted that this should not be seen as a problem. "There will surely be an exchange rate leap, but that does not mean that the deflation process will be interrupted. On the contrary, it could mean the consolidation of monetary and exchange rate stability," he explained.

He also suggested that postponing the measure until after the elections would be a mistake: "The President should seriously consider the elimination of the line in the first months of next year, to reach the election with the economy stabilized and in a frank process of growth by investment and increased productivity."

El detalle de las críticas de Domingo Cavallo al equipo económico que provocaron la furia de Javier Milei

El detalle de las críticas de Domingo Cavallo al equipo económico que provocaron la furia del presidente Javier Milei.

elintransigente.com

 

[Surfer]

At least he owned up to it. Something I don't understand is Milei probably will keep saying that they are very close to getting rid of the currency controls. He has been saying that for a while now and it sounds like they are not anywhere near getting rid of them. I guess it depends what his definition of very close is. Here is an old article from May saying they are very close.

Milei attacks ‘loudmouth’ critics as he denies peso-dollar lag

President attacks "loudmouth" economists critical of his exchange rate policy, defends economic programme and says Argentina is "very close" to removing currency controls.

www.batimes.com.ar

The government will probably always say they are close. Even if they aren't. Is there anyone out there that is trying to say the peso is really worth what it is? I hear expats complaining. I hear locals complaining and now people like this former minister of finance saying the peso is overvalued should make people realize this ain't normal.

 

[Blockchain]

Here is another article about this situation. I don't understand. I remember reading an article on this forum when Milei himself said he was worried about the peso getting too strong. So even he has questioned the ramifications of too strong of a peso. Seems like all kinds of problems from agricultural producers to exporters to tourism are going to have problems.

Javier Milei “ejecutó” a la hija de Domingo Cavallo | La echó de la embajada argentina en la OEA

Sonia Cavallo había sido designada como embajadora por recomendación de su padre, a quien el presidente tildó esta mañana de “impresentable”. El pedido de renuncia llega también tras el mensaje del mandatario de que quienes desentonen con su pensamient...

www-pagina12-com-ar.translate.goog

 

[CecilM]

It's incredible the bipolarity of this guy. Luckily, the archive exists. Just a few years ago, he praised him nonstop, saying that Cavallo was the best economy minister in Argentina's history, and now it turns out that the same person is a disgrace. It's almost funny! What’s not funny is that he fired his own daughter, not knowing how to separate things. The real disgrace is him.

 

[Cardiac Arrest]

It's incredible the bipolarity of this guy. Luckily, the archive exists. Just a few years ago, he praised him nonstop, saying that Cavallo was the best economy minister in Argentina's history, and now it turns out that the same person is a disgrace. It's almost funny! What’s not funny is that he fired his own daughter, not knowing how to separate things. The real disgrace is him.

Milei looks like he is scared sh*tless now. No way they can end the cepo now. Too much fear of things blowing up. They will keep terminating anyone that doesn't tow the party line. He is trying to make people fear for their jobs and not speak out against what they are doing.

Milei always said it was going to take many years to fix this. Probably will get even uglier and inflation probably will jump up once the cepo ends. I would have to be an idiot to believe that the exchange rate wouldn't turn once cepo ends.

 

[Larry]

They will keep terminating anyone that doesn't tow the party line.

Yes he fire relatives of anyone that doesn't agree with him. He also terminate the head of ANSES, Osvaldo Giordano after his wife did not vote for the Ley Bases.

Also, anyone that is saying anything that can hurt the votes even if it is true he is terminating.

Milei asks social security chief to quit after comments on raising retirement age - Buenos Aires Herald

ANSES head Mariano de los Heros said the government was aiming for a 2025 pension reform, but the president later contradicted him

buenosairesherald.com

 

[memories]

Crazy that Milei fired his daughter when Milei is doing rug pulls. I wonder if someone in his administration would get caught embarrassing their party. He would fire him right away but now he is doing insane stuff like that.

Cavallo, Milei and the elephant in the room

Besides numbers, markets measure moods and tones. And the tone they got from President Javier Milei this week may not have been reassuring.

www.batimes.com.ar

Argentina’s President Javier Milei Launches Solana Meme Coin—LIBRA Crashes 89% - Decrypt

A Solana meme coin shared by Argentina's President Javier Milei skyrocketed Friday, then collapsed. Here's what you need to know.

decrypt.co

 

[Betsy Ross]

Crazy that Milei fired his daughter when Milei is doing rug pulls. I wonder if someone in his administration would get caught embarrassing their party. He would fire him right away but now he is doing insane stuff like that.

Cavallo, Milei and the elephant in the room

Besides numbers, markets measure moods and tones. And the tone they got from President Javier Milei this week may not have been reassuring.

www.batimes.com.ar

Argentina’s President Javier Milei Launches Solana Meme Coin—LIBRA Crashes 89% - Decrypt

A Solana meme coin shared by Argentina's President Javier Milei skyrocketed Friday, then collapsed. Here's what you need to know.

decrypt.co

Definitely, if someone embarrassed the government like this Milei would have fired them immediately. I doubt Milei will resign and he probably won't get fired over this. Not sure this will easily blow over.