Milei promises to close Argentina39s central bank again Internacional Estadao

Milei promises to close Argentina's central bank again Internacional Estadão

BUENOS AIRES The President of Argentina, Javier Milei, again promised to close Argentina's Central Bank (BCRA). These comments were made this Thursday 11th in an interview with the radio station La Red AM when asked if he still intends to dollarize the Argentine economy. “Sooner or later we will close the central bank,” he said.

After winning the election, Milei showed signs of abandoning some promises. The decision to remove some radical advisers and appoint allies of the former president Mauricio Macri it was seen as a sign of moderation.

However, in the interview, the president did not provide any details about how he would close the BCRA. Currently, only a few countries function without a central bank. The list includes Panama, Kiribati, Tuvalu, Andorra, Monaco, Nauru and Palau. Most have small populations and some are tax havens.

Argentine President Javier Milei in Buenos Aires, December 10, 2023. Photo: Gustavo Garello / AP

On the radio station La Red, Milei predicted that inflation would be below 30% in December, which would be “a resounding success” for his economic team, as expectations were at 45% according to data published this Friday after the interview the index at 25.5%, closed the year at 211.4%, surpassing Venezuela and achieving the highest inflation in the region.

In the interview, the president also praised the agreement reached with him IMF, on Wednesday, granting Argentina $4.7 billion. “It was the fastest negotiations in history,” he said.

Argentine Central Bank building in Buenos Aires. Photo: LUIS ROBAYO / AFP

Milei also commented on the trip to the World Economic Forum in Davos next week. He revealed that he received more than 60 invitations to bilateral meetings during the meeting. “We are working to make Argentina a world power in the next 35 years, with the first part of this improvement visible in the first 15 years,” he said. /AP