🇦🇷🗳💵 What's in store for Argentina?
The victory of libertarian Javier Milei in the presidential election has left no one in Argentina indifferent. While some are crying over Sergio Massa's speech admitting his defeat, others are jumping in the streets shouting "Liberty, liberty!"
Milei, a self-described 'anarcho-capitalist,' plans to get rid of the central bank and the national currency in favor of the U.S. dollar and eliminate some of the ministries. He also plans to cut government spending.
🔻Milei opposes cooperation with China, Brazil and Russia, favoring the United States. And his future office has already spoken out against Argentina joining BRICS in 2024. That said, it is unclear how Milei plans to deal with IMF debts without China's help: in recent months, Economy Minister (and Milei's rival) Sergio Massa has been heavily relying on the yuan to pay off IMF debts.
Relations with Brazil are about to become tense: President Lula da Silva said the elections were democratic and wished the "new government good luck," but he did not call Milei by name or congratulate him personally. The fact that Milei openly supports former President Jair Bolsonaro will hinder cooperation.
🔻Milei's victory resulted from the population's fatigue from the prolonged economic crisis. As a future president, Milei is betting heavily on ties to the U.S. and the dollar. However, if he is reckless in his actions, he risks plunging the country into an even bigger crisis. This in turn will cause the IMF to increase the country's debt load, as it happened under Macri.
When companies go bankrupt, American and European financial corporations will gladly buy their assets at a cheap price. We have already seen this scenario unfold in countries engulfed in military conflicts (Ukraine) or an economic crisis (Turkey).
🔻That said, Milei's bloc does not have a majority in Congress, so his office will have to work on forming alliances to push through legislation.
#Argentina #election #US #Brazil #China #IMF
☠️ Blood Meridian
The victory of libertarian Javier Milei in the presidential election has left no one in Argentina indifferent. While some are crying over Sergio Massa's speech admitting his defeat, others are jumping in the streets shouting "Liberty, liberty!"
Milei, a self-described 'anarcho-capitalist,' plans to get rid of the central bank and the national currency in favor of the U.S. dollar and eliminate some of the ministries. He also plans to cut government spending.
🔻Milei opposes cooperation with China, Brazil and Russia, favoring the United States. And his future office has already spoken out against Argentina joining BRICS in 2024. That said, it is unclear how Milei plans to deal with IMF debts without China's help: in recent months, Economy Minister (and Milei's rival) Sergio Massa has been heavily relying on the yuan to pay off IMF debts.
Relations with Brazil are about to become tense: President Lula da Silva said the elections were democratic and wished the "new government good luck," but he did not call Milei by name or congratulate him personally. The fact that Milei openly supports former President Jair Bolsonaro will hinder cooperation.
🔻Milei's victory resulted from the population's fatigue from the prolonged economic crisis. As a future president, Milei is betting heavily on ties to the U.S. and the dollar. However, if he is reckless in his actions, he risks plunging the country into an even bigger crisis. This in turn will cause the IMF to increase the country's debt load, as it happened under Macri.
When companies go bankrupt, American and European financial corporations will gladly buy their assets at a cheap price. We have already seen this scenario unfold in countries engulfed in military conflicts (Ukraine) or an economic crisis (Turkey).
🔻That said, Milei's bloc does not have a majority in Congress, so his office will have to work on forming alliances to push through legislation.
#Argentina #election #US #Brazil #China #IMF
☠️ Blood Meridian
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