Has Milei fixed Argentina’s inflation problem?
More or Less
BBC
4.6 • 3.7K Ratings
🗓️ 26 April 2024
⏱️ 10 minutes
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Summary
Libertarian populist Javier Milei won the presidential election in Argentina on a promise austerity and economic “shock” measures for the ailing economy.
Just a few months in, some are hailing the falling rate of inflation as showing those measures are working.
Economist Monica de Bolle, senior fellow at the Peterson Institute for International Economics, explains whether that thinking is correct.
Presenter/producer: Tom Colls Producer: Ajai Singh Production co-ordinator: Brenda Brown Sound mix: Graham Puddifoot Editor: Richard Vadon.
Transcript
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| 0:00.0 | Why do some big successful brands go bust? |
| 0:05.0 | Toast is back for a new series, taking a look at the decisions that often left investors burnt. |
| 0:11.0 | I'm Sean Farrington, a BBC business journalist. I'll be hearing about the hype. |
| 0:15.0 | They're going to do the deal that makes them the most money at that point of time. |
| 0:19.0 | And I'm picking what went wrong, talking to owners and employees to ask, what can we learn? |
| 0:25.4 | It was being undercut by similar rivals. It just couldn't survive. |
| 0:30.3 | Toast. Listen first on BBC Sounds. |
| 0:34.1 | Hello and thanks for downloading the more or less podcast. |
| 0:37.7 | We're the program that looks at the numbers in the news and in life. |
| 0:41.6 | I'm Tom Coles. |
| 0:47.1 | Argentina has struggled with a huge inflation problem for years, but one man had a plan. |
| 0:57.6 | During his campaign to become president, |
| 1:04.1 | Libertarian economist Javier Millet grabbed international attention for his chainsaw-wielding campaign rallies. He promised shock measures and spending cuts to revive the economy. |
| 1:12.1 | He won that election and took over as the President of Argentina in December last year. |
| 1:17.2 | In March, right-wing Twitter account at End-Wokenness pointed to a fall in the monthly inflation rate, |
| 1:25.9 | implying that the measures were already working. Argentina's monthly inflation rate, implying that the measures were already working. |
| 1:28.8 | Argentina's monthly inflation rate. December, 25.5%. January 2024, 20.6%. February, 2014, 13.2%. This downward |
| 1:41.6 | trend continued into March. March 2024, 11%. |
| 1:46.4 | So is this right? Is the falling monthly inflation rate a sign that Javier Malé has started |
| 1:52.9 | to sort out Argentina's economy? |
| 1:56.9 | First, a bit of context. |
| 1:59.4 | Javier Malay inherited an economy in a lot of trouble. |
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