Argentina’s elected president, Javier Milei, said in an interview that his government would carry out “a strong fiscal adjustment towards a direct elimination of the financial deficit.” We will become “solvent,” he said, and we will pay off $45 billion in debt plus interest to the International Monetary Fund (IMF).
In an interview with Infobae columnist Manuel Adorni published on YouTube, Milei said: “It will be a shock, there will be no gradualness.”
“Argentine government bonds and stocks have risen. This means there is confidence in what we want to do. We are giving clear signals of stability and political strength, which was one of the things that was questioned and that we can do.” “We have to make agreements in Congress so that these laws move forward,” emphasized the ultra-liberal president.
Regarding the risk that current inflation could lead to hyperinflation, Milei noted: “The risk is there. We will do everything we can to avoid it.”
The new head of state then agreed with the recent statement of former President Mauricio Macri. “We have a very tough six months ahead of us,” but they will be “Argentina’s breakthrough.”
“It’s not about cutting public spending,” he added, “but about the spending that politicians steal.”
That’s the big trick. The Inter-American Development Bank has published a study on the inefficiency of public spending.
Argentina has an inefficiency of 7.5 points and a financial deficit of 5″.
When asked about possible, even violent, protests on the streets in response to his plan, Milei replied: “I won’t let myself be blackmailed. Otherwise we won’t solve anything.”
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