Javier Milei's Reforms Slash Hyperinflation, Introduce Zero Monetary Issuance in Argentina

Jul 1, 2024, 12:06 PM

Javier Milei, President of Argentina, has introduced a new economic phase for the country, focusing on zero monetary issuance. This move is part of a series of profound reforms that have gained significant support, with 60% of the population backing Milei's initiatives. The Argentine lawmakers have codified many of Milei's executive reforms, which aim to tackle hyperinflation and stabilize the economy. Milei's efforts have already led to a 95% reduction in hyperinflation over the past seven months, enhancing his popularity among Argentinians. The reforms also impact inflation and exchange rates. However, Argentina and the International Monetary Fund (IMF) are cautious about rushing into another debt agreement, citing 22 reasons for their hesitation.