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IPFS News Link • Argentina

Javier Milei Is Not a Problem for Argentina. Socialism Is.

•, By Daniel Lacalle

The Central Bank of Argentina and the Peronist government have been devaluing the peso and sinking the currency for years. It must devalue because the central bank has run out of reserves.

Argentina is not facing an "anti-system" or "far-right" threat. They already have a far-left and anti-system government. The extractive and confiscatory monetary and fiscal policies of the XXI Century Socialism championed by Peronist Fernandez de Kirchner. The so-called "Inclusive" monetary policy, as Axel Kicilloff, Cristina Fernandez de Kirchner's ex economy minister, denominated it.

The Peronist policy of maximum interventionism as well as fiscal and monetary irresponsibility has destroyed Argentina and left the central bank without reserves.

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