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Marketplace All-in-One

Milei defends radical austerity plan

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 7 May 2024

⏱️ 8 minutes

🧾️ Download transcript

Summary

From the BBC World Service: Argentina’s president has cut public sector jobs, reduced energy and transport subsidies and devalued the country’s currency in the five months since he became leader — but Javier Milei denies ordinary Argentines are paying for the stringent measures. Also: What does a butter-free croissant say about France’s changing food and agriculture industries?

Transcript

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0:00.0

Argentina's president tells the BBC that it's not the ordinary folks who are paying for austerity measures.

0:07.0

Good morning, I'm Leanna Byrne and this is the Marketplace Morning Report from the BBC World Service.

0:12.0

Thanks for tuning in. In the five months since

0:14.0

Argentina's president was sworn in he's slashed public sector jobs, slashed energy and

0:19.1

transport subsidies and slashed the value of the country's currency and since

0:23.2

have a meal a campaign to be present wielding a chainsaw I guess he's

0:26.9

living up to his promises. The BBC's Ioni Wells is in Buenos Aires speaking

0:31.3

to people there like 72 year old

0:33.1

who sings in the street to get by. It is such who is suffering, not the

0:37.6

political class as the president says. He says the political class is going to pay.

0:43.2

It's a lie. We are suffering. The common people, the people who work every day, who buy their food.

0:50.1

And I only Port Julio'sia's comments to have Yamele himself in an exclusive interview.

0:57.0

Well, actually, that is false.

1:02.0

The largest adjustment is being paid by the political corporation.

1:06.7

The impact on pensions is only 0.4% of GDP.

1:12.4

But I want to know specifically, what would you say to people? 4.4% of GDP.

1:12.6

But I want to know specifically, what would you say to people right now?

1:15.7

Would you say, sorry, would you say thank you to the people who are having to pay a lot more

1:19.9

than they were previously as a result of the adjustment that's happening.

1:24.0

The mass media will deliberately lie, and people will believe those lies they get through

1:29.6

the media.

1:31.3

You can't make a macroeconomic evaluation based on the situation of an individual.

...

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