Commentary. It will be very difficult for the anarcho-capitalist president to get the votes needed to pass bills, unless he really wants to rule by decree, as suggested by the new Foreign Minister, Diana Mondino.

written by Claudia Fanti

Topic Latin America

December 14, 2023

Cry for yourself, Argentina – for the nightmare that began on Monday when Javier Milei took office in the Casa Rosada, bringing in a shock plan of privatizations, layoffs and social spending cuts billed as the solution to the country’s ills.

A brutal devaluation is immediately expected by next week – which will have a massive impact with an annual inflation that already exceeds 140 percent – and what will follow is something predicted by Milei himself for the first months of his government: so-called stagflation, a deadly combination of falling economic activity and rising costs of goods and services. It will have obvious repercussions on job precariousness, as well as on poverty, which has already reached 44.7 percent in the third quarter of 2023 (as high as 62.9 percent for children and teenagers).

We have already seen all the warning signs: in the aftermath of the vote, taking advantage of Milei’s announcement that there will be no agreement to control........

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