Source: Christian Science Monitor
by staff
“Nearly seven months after taking office, Argentine President Javier Milei has begun to tame one of the worst economic crises in Latin America. His spending cuts and currency reforms have drastically cut high inflation. The government has seen its first budget surplus in 16 years. And with a strong mandate from voters, he has made some progress in Congress to pass reforms – despite his party being in the minority. Much still needs to be done, such as reducing nearly $400 billion in foreign debt and privatizing state-owned enterprises. Yet, concludes a paper by the United Kingdom-based Economics Observatory, the changes so far mark ‘the first time since the turn of the century that Argentina is purposefully addressing the deep-rooted cause of all its economic struggles.'” (06/25/24)