Politics Thread: President Javier Milei - Decree of Necessity and Urgency (DNU) in real-time

[fetch rover]

@Avocado, With all due respect, the country was destroyed by the last 20 years of government - 16 years of Kirchnerismo and 4 years of mistakes from Macri. Milei has been running the show for two weeks. He has taken some measures to stop the disaster caused by CFK, Alberto and Massa.

Is he to blame for the economic disater he has inherited? Please be honest with yourself!

I don't know anything about Argentina but my husband said President Milei was a positive for Argentina. I don't know enough either way but his comments over the past many years since he lived here echos @GlasgowJohn and some of the other posts I have read. It sounds like a very difficult time for everyone but people should see how things turn out. From what I saw on the news I has only been a few days since he took office.

 

[fool in love]

I have only been in BA for 3 weeks and I just left but the mood seems to be overall positive. Most people seem like they voted for Milei and knew it would be tough. Fortunately most seem patient. But I did run into a few locals that seem very bitter that he won. I hope they have the fortitude to wait it out. Change will take time.

 

[Jeb Spencer]

I have only been in BA for 3 weeks and I just left but the mood seems to be overall positive. Most people seem like they voted for Milei and knew it would be tough. Fortunately most seem patient. But I did run into a few locals that seem very bitter that he won. I hope they have the fortitude to wait it out. Change will take time.

Most people I think are just waiting to see how things turn out. I'd say cautiously optimistic. Except of course the Peronistas that blame Milei for everything.

 

[Scottishgaucho]

Indeed

@Avocado, With all due respect, the country was destroyed by the last 20 years of government - 16 years of Kirchnerismo and 4 years of mistakes from Macri. Milei has been running the show for two weeks. He has taken some measures to stop the disaster caused by CFK, Alberto and Massa.

Is he to blame for the economic disater he has inherited? Please be honest with yourself!

Spot on. Truth be told this country has been a basket case for years and years. Hard to believe, given it was once rated as one of the richest countries in the world. Drastic action has had to be taken in order for the positive results to be seen during Milei's term. Otherwise in four years time like what happened in Macri's case Milei would get voted out and we'd end up with another bunch of clueless K rogues in charge.

 

[Che Vos]

Indeed


Spot on. Truth be told this country has been a basket case for years and years. Hard to believe, given it was once rated as one of the richest countries in the world. Drastic action has had to be taken in order for the positive results to be seen during Milei's term. Otherwise in four years time like what happened in Macri's case Milei would get voted out and we'd end up with another bunch of clueless K rogues in charge.

I agree the things bad in Argentina for many years. Most my family vote for Massa except some uncles and aunts. My father accountant and now he say many change Milei want to do is good. He no like all the things Milei doing but he say we have wait some time to see how the things go. He say if Milei fail we go back to Peronistas forever.

 

[Avocado]

I always say Milei CRAZY like Trump. At least people around the world see it the same way.

They have Milei. We have Trump. We’re closer to Argentina’s chaos than we think | Opinion

When we look at Argentina, much of the fecklessness and chaos we see is a mirror image of our own, economist Ed Lotterman writes.

www.aol.com

 

[Canada Goose]

I always say Milei CRAZY like Trump. At least people around the world see it the same way.

They have Milei. We have Trump. We’re closer to Argentina’s chaos than we think | Opinion

When we look at Argentina, much of the fecklessness and chaos we see is a mirror image of our own, economist Ed Lotterman writes.

www.aol.com

Is AOL really still around? Ha. I thought they folded a few decades ago.

Comparing Milei and Trump is like saying pizza and pineapple are the same because I once ate both. Milei complimented Trump, but that doesn't make them the dynamic duo. Just because I dig tacos doesn't mean I'm Mexican.

In today's wild world, if you're not a borderless, government-knows-all lefty fanatic, you're suddenly crowned "far right." It's like labeling me a sushi master just because I appreciate a good roll – talk about a fishy conclusion!

 

[Che Vos]

Is AOL really still around? Ha. I thought they folded a few decades ago.

Comparing Milei and Trump is like saying pizza and pineapple are the same because I once ate both. Milei complimented Trump, but that doesn't make them the dynamic duo. Just because I dig tacos doesn't mean I'm Mexican.

In today's wild world, if you're not a borderless, government-knows-all lefty fanatic, you're suddenly crowned "far right." It's like labeling me a sushi master just because I appreciate a good roll – talk about a fishy conclusion!

I don't know enough about Donald Trump. I look up online and see this:

Is it accurate to compare Javier Milei to Jair Bolsonaro in Brazil and Donald Trump in the US?

Answer: Yes and no. Donald Trump Inaugurated the successful use of social media to spread his political narrative. It is no secret he did much better than Hillary on that medium, and won even though the more respectable media outlets were outright opposing him. Obama made good use of social med...

www.quora.com

 

[Larry]

I have only been in BA for 3 weeks and I just left but the mood seems to be overall positive. Most people seem like they voted for Milei and knew it would be tough. Fortunately most seem patient. But I did run into a few locals that seem very bitter that he won. I hope they have the fortitude to wait it out. Change will take time.

I'm one that is bitter for win. He is destroying this country very quickly. He make too many changes that are too difficult for Argentine middle class. I worry for this country.

 

[James Bond]

A significant change was announced recently, removing limits on businesses making domestic USD bank-to-bank transfers using dollars acquired via the MEP (stock market) to settle domestic payments. This, along with the content of the recent DNU (Decree of Necessity and Urgency), begins to create a scenario where businesses can transact between themselves in dollars without limit within the local banking system. Additionally, as more imports start coming in, prices should begin to stabilize in hard currency terms in each market.

With the removal of pesos from circulation through businesses purchasing USD via the MEP (more expensive but cheaper than inflation), coupled with the central bank reducing ARS supply, the peso's value is expected to decrease. By the time some kind of dollarization arrives, it may not be at an extreme rate like 100,000 to 1 but perhaps at 50,000 to 1 or a similar figure, making it a "less worse" journey than it could have been.

Rather than attempting to predict the future, it is advisable to pay attention to the daily news and the detailed policy changes happening regularly. The situation is fluid, and one must assume prices will remain "expensive" until solid facts indicate otherwise.

 

[Swowbird]

Guess who is coming to Buenos Aires to negotiate debt repayment? IMF.

IMF to Visit Argentina Amid Expectation of New Agreement​

• IMF staff to visit Buenos Aires to discuss $44 billion program
• Argentina, IMF close to agreement on seventh review: Reuters

By Ignacio Olivera Doll


January 2, 2024 at 1:04 PM PST

Source:

https://www.bloomberg.com/news/arti...9.9eq0vDSqjKqdK35tQ-0W4coFtsOUBP_v3QkogxFFokM

International Monetary Fund officials are coming to Argentina this week amid growing expectations that President Javier Milei’s administration is close to signing a deal to put the $44 billion program with the Washington-based lender back on track.

The delegation will arrive in Buenos Aires on Thursday, presidential spokesman Manuel Adorni said during a news conference Tuesday. The two sides are already nearing an agreement on the seventh staff-level review, Reuters reported, citing three unnamed sources.

The IMF’s press office confirmed the meeting, adding that Argentina is exercising its right to bundle payments due to the lender in January for the end of the month. But neither the Fund nor Milei’s office commented on the possibility of an imminent deal.

Milei’s cabinet chief Nicolas Posse and Economy Minister Luis Caputo will lead talks with IMF’s Luis Cubeddu and Ashvin Ahuja. Argentina must pay the Fund nearly $2.6 billion in debt maturities in January and February.

It’ll be the first in-person meetings between Milei’s administration and IMF staff since the libertarian president took office Dec. 10, though Caputo and Posse met with IMF leadership in Washington during the transition period. The mere presence of an IMF delegation in Argentina signals a change of tone between Milei and his predecessor, Alberto Fernandez, who almost entirely held talks outside the country while criticizing the institution in public. A formal visit often signals that talks are in advanced stages.

IMF Managing Director Kristalina Georgieva applauded Milei’s first economic measures, which included announcements of sharp spending cuts this year and a 54% currency devaluation, calling them “an important step toward restoring stability and rebuilding the country’s economic potential.”

Argentina’s agreement, the largest on the IMF’s balance sheet, veered off course during Fernandez’s administration as his economic team delayed talks and routinely missed key targets in the program, though continued receiving IMF disbursements.

In a recent TV interview with La Nacion, Milei said the IMF will support his austerity-driven economic plan.

“The Fund sees us as heroes,” Milei said. “We’re working to comply with the agreement.”

 

[oil rush]

Milei is rock solid

Nevertheless, there are some positive early signs. Since Milei’s election Argentina’s flagship stock index has risen by almost one-third and the peso’s value has not collapsed. Argentina could soon benefit from a major new shale pipeline pumping one million barrels of crude a day (helped along by reforms that allow exports of oil and sales at market prices) and the mining of the second largest proven lithium reserves in the world.

Milei is proving himself to be the woke West’s worst nightmare

A chainsaw-wielding radical has cut his way through to the path to prosperity

www.telegraph.co.uk

 

[Canada Goose]

Read this today.

Milei knows the clock is ticking

While the political class and the media have spent days debating the DNU emergency decree and the so-called “omnibus” law which seeks to fully deregulate the economy, whether it is constitutional or not, and whether it conforms with the processes and best practices of democracy, the real issue...

www.batimes.com.ar

 

[Karina Milei]

You know who will be President in 2032? Me!

‘El Jefe’: is Karina Milei the power behind Argentina’s presidential throne?

Javier Milei swept aside an anti-nepotism law to appoint his sister to a high-ranking position – but who is she?

www.theguardian.com

 

[Sylvie]

Good article about the planned strikes:

Politics - The general strike of the CGT seems inevitable, but the dilemma is what the Government and the unions will do the next day - Infobae

The general strike of the CGT seems inevitable, but the dilemma is what the Government and the unions will do the next day - Infobae Source...

www.expatsba.com

 

[Avocado]

Hopefully Milei is "assuming" correctly about the IMF disbursement.

Politics - Javier Milei has the support of Kristalina Georgieva and the Government assumes that the IMF will make a disbursement of 3,000 million dollars

Javier Milei has the support of Kristalina Georgieva and the Government assumes that the IMF will make a disbursement of 3,000 million dollars in January - Infobae Source...

www.expatsba.com

 

[earlyretirement]

Bowtied Mara on Twitter has some of the best content on Argentina. Everyone should be reading his forum. He had a great blog post today on Milei and DNU's vs. Omnibus law. Required reading for Buenos Aires Expats.

Going Back to Alberdi

A walkthrough of Milei's deregulation decree and the "Bases and Starting Points for the Freedom of Argentines" law proposal.

www.bowtiedmara.io

 

[Betsy Ross]

Bowtied Mara on Twitter has some of the best content on Argentina. Everyone should be reading his forum. He had a great blog post today on Milei and DNU's vs. Omnibus law. Required reading for Buenos Aires Expats.

Going Back to Alberdi

A walkthrough of Milei's deregulation decree and the "Bases and Starting Points for the Freedom of Argentines" law proposal.

www.bowtiedmara.io

Yes, this is a great article here. Frederico Sturzenegger had this stuff in the works for years. That is how it was able to all come out so quickly days after taking office.

La revolución de la libertad

www.perfil.com

 

[GlasgowJohn]

Hopefully Milei is "assuming" correctly about the IMF disbursement.

Politics - Javier Milei has the support of Kristalina Georgieva and the Government assumes that the IMF will make a disbursement of 3,000 million dollars

Javier Milei has the support of Kristalina Georgieva and the Government assumes that the IMF will make a disbursement of 3,000 million dollars in January - Infobae Source...

www.expatsba.com

The repayments have to be made whether it was Massa or Milei.

I think Milei will get a better deal from the IMF for all taxpayers in Argentiona

 

[Betsy Ross]

The repayments have to be made whether it was Massa or Milei.

I think Milei will get a better deal from the IMF for all taxpayers in Argentiona

EXACTLY. Better terms. Better relationship. It's like Massa or CFK supporters don't have a basic understanding of any financial matters. They want a big bad boogyman to blame and Milei is that guy for them.