Argentina will print 10,000 peso notes amid soaring inflation
NBCMAY 2024
Due to Pres. Milei's radical reforms Argentina's economic woes have only intensified. The self-proclaimed anti-establishment, anarcho-capitalist president's drastic measures, aimed at slashing welfare and provincial funding, have exacerbated the country's dire financial situation. His aggressive approach and polarizing rhetoric have hampered his ability to implement meaningful change. Ultimately, the people of Argentina are left grappling with an increasingly bleak economic landscape.
Pres. Milei has tackled Argentina's economic woes head-on, implementing shock therapy reforms to slash government spending and reduce inflation. Despite skepticism and dire predictions, Argentina's economy has shown surprising growth, with a 2.3% year-over-year increase in gross domestic product and a cooling inflation rate. While critics feared deep recession and economic pain, early indicators suggest Milei's aggressive cuts might be yielding results.
There's a 15% chance that Argentina will fully dollarize its economy before 2028, according to the Metaculus prediction community.