Argentina's debt to the IMF grows 36% in a year under Milei and exceeds US$57 billion

[VINO]

Thanks Silvia, I certainly appreciate that perspective, especially the way you put it. The other side of it is that Argentina was already in a deep hole when Cristina took power and needed real leadership. She knew this of course but had no interest in making difficult choices, she just spent more money that the country didn't have and stole surreal sums for herself in the process. Which made the inevitable crisis so much worse. I think the nicest thing you can say is she was a populist because at least some of it went to the poor.

Milei is making hard but necessary choices, and it's a terrible shame he can't see the forest for the trees on corruption. Your point about "who would they vote for" is well taken.

Mucho of Argentina is illiterate when it comes to politics or taxes and ultimately just comes down to is life easier or harder for them. Life with Milei is harder for most of them. He is giving a lot of public assistance to them which is what is saving them so far but these will probably be cut too and his support will be tough as most see things now how much has the President stolen but is life easier or harder or cheaper or more expensive.

Salaries have gone up but not as much as inflation so it doesn't matter.

 

[Betsy Ross]

Thanks Silvia, I certainly appreciate that perspective, especially the way you put it. The other side of it is that Argentina was already in a deep hole when Cristina took power and needed real leadership. She knew this of course but had no interest in making difficult choices, she just spent more money that the country didn't have and stole surreal sums for herself in the process. Which made the inevitable crisis so much worse. I think the nicest thing you can say is she was a populist because at least some of it went to the poor.

Milei is making hard but necessary choices, and it's a terrible shame he can't see the forest for the trees on corruption. Your point about "who would they vote for" is well taken.

The biggest problem and toughest narrative is that inflation is increasing and they have limited wage increases except on themselves. It's one thing if it's a "we all struggle together" and another with we will give ourselves big 150% salary increases and the rest of you have to fend for yourselves. That's the problem I am seeing now.