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Montevideo, May 28th 2024 - 19:49 UTC

 

 

Milei celebrates inflation figures football-style

Wednesday, May 15th 2024 - 16:58 UTC
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Milei thanked Toto Caputo for the latest achievement Milei thanked Toto Caputo for the latest achievement

Argentine President Javier Milei became overtly extrovert on social media Tuesday after the National Institute of Statistics and Census (Indec) announced that April's monthly Consumer Price Index (CPI) had stood at 8.8%. “GOOOOOOOOOOOOOOOOOOOL...!!!!,” he wrote in football-fan mode. Meanwhile, Presidential Spokesman Manuel Adorni said inflation had “its death certificate signed.”

Also expressing his optimism on social media was Congressman José Luis Espert, a graduate economist like Milei and Adorni. In his view, the recipe for the government's achievement consisted of coupling a zero fiscal deficit with no money issuance. He also highlighted that after four months under Milei Argentina had dodged an impending hyperinflation.

“The effort of the Argentines and the great work of Milei's economic team continues to give results. We will be a power,” stressed Libertarian Senator Francisco Paoltroni from the province of Formosa.

Milei also thanked Economy Minister Luis 'Toto' Caputo for the new achievement.

Despite his latest success, Milei acknowledged that the so-called May Pact he intended to sign with the province's governors to agree on a roadmap for Argentina's economic recovery might need to be put off until “June or July” as his Omnibus Law bill is stalled in the Senate and might need to return to the Lower House for further fine-tuning.

“It does not matter, if it is not in May, it will be in June or July, but we are going to make the structural reforms,” Milei said in a TV interview at the unveiling ceremony of former President Carlos Menem's bust in Casa Rosada.

Earlier Tuesday, Interior Minister Guillermo Francos had already admitted the possibility of postponing the May Pact depending on the fate of the Libertarian Administration's workhorse bill, officially known as the Bases Law. “We are moving forward with the Bases Law,” said Francos. “We are trying to reconcile the proposals for changes,” he added in a morning radio show interview. “It does not depend on us, but on the senators,” Francos also argued.

Categories: Economy, Politics, Argentina.

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  • Zaphod Beeblebrox

    December 2023: 25.5%
    January 2024: 20.6%
    February 2024: 13.2%
    March 2024: 11.0%
    April 2024: 8.8%

    So good progress, but it really needs to drop below 5% in order to look good from a historical perspective: https://tradingeconomics.com/argentina/inflation-rate-mom

    May 15th, 2024 - 11:56 am 0
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