“Consumer prices soared 211.4% in December from a year earlier, putting Argentina ahead of Venezuela as the nation with the fastest inflation in Latin America. Official data published on Thursday also showed prices jumping 25.5% from November, below the 30% median estimate of economists surveyed by Bloomberg.
The International Monetary Fund gave Milei’s plan a vote of confidence, approving Wednesday a review of its $44 billion program that paves the way for a larger-than-expected loan disbursement of $4.7 billion. The Washington-based lender expects Argentina’s tough medicine to further boost prices in the coming months, before a gradual disinflation process starts as the country rebuilds credibility.
That hasn’t stopped worker unions from calling a general strike on Jan. 24, nor Argentines from banging pots and pans
on the streets in protest of his austerity measures.
Milei’s shock therapy will cause the economy to further contract this year, meaning Argentines will contend with a long period of stagflation.”
That’s the free market libertarians bros so proudly claiming:….free to starve for people….free of consequences market for their pockets..
Argentina’s regional peer Venezuela, long the Latin American country with the highest inflation rate, has seen prices cool in recent months, with its annual 2023 inflation rate estimated around 193% after out-of-control hyperinflation in recent years.
Even worse than Venezuela….👀
Aye. How many buckets of cash for a loaf of bread?? Lol
Can someone explain in a matter of fact manor about the situation in Argentina. Both the short term plans and consequences, as well as the long term plans and consequences?
4 comments
“Consumer prices soared 211.4% in December from a year earlier, putting Argentina ahead of Venezuela as the nation with the fastest inflation in Latin America. Official data published on Thursday also showed prices jumping 25.5% from November, below the 30% median estimate of economists surveyed by Bloomberg.
The International Monetary Fund gave Milei’s plan a vote of confidence, approving Wednesday a review of its $44 billion program that paves the way for a larger-than-expected loan disbursement of $4.7 billion. The Washington-based lender expects Argentina’s tough medicine to further boost prices in the coming months, before a gradual disinflation process starts as the country rebuilds credibility.
That hasn’t stopped worker unions from calling a general strike on Jan. 24, nor Argentines from banging pots and pans
on the streets in protest of his austerity measures.
Milei’s shock therapy will cause the economy to further contract this year, meaning Argentines will contend with a long period of stagflation.”
That’s the free market libertarians bros so proudly claiming:….free to starve for people….free of consequences market for their pockets..
Argentina’s regional peer Venezuela, long the Latin American country with the highest inflation rate, has seen prices cool in recent months, with its annual 2023 inflation rate estimated around 193% after out-of-control hyperinflation in recent years.
Even worse than Venezuela….👀
Aye. How many buckets of cash for a loaf of bread?? Lol
Can someone explain in a matter of fact manor about the situation in Argentina. Both the short term plans and consequences, as well as the long term plans and consequences?
there’s some shock therapy for yah