Argentina's market drops 48% in one day

[farmerge]

Argentina's cabinet drops 60% in one day​

On his 1st day in office, President Milei signs an executive order, reducing government from 21 ministries to 9

Interior, economy, justice, infrastructure, foreign affairs, security & defense all stay

Education, healthcare, culture, women’s rights, etc, out
View attachment 167054

Hmm education given the flick now that's a good move keep the peasants uneducated and uninformed

 

[moXJO]

I think they got rolled into one department

 

[Dona Ferentes]

that's what I'd translate Capital Humano as.

 

[qldfrog]

Hmm education given the flick now that's a good move keep the peasants uneducated and uninformed

He is just getting rid of a specific wasp nest of a core leftist propaganda tool
Considering the abysmal results of western education in the last few decade nothing is not worth trying...
I follow with interest and wonder how the wef is going to smash him : he and his country is much more fragile than Trump's usa

I think they got rolled into one departmen

 

[moXJO]

Seems to have backtracked on the Paris agreement despite calling CC a hoax.

 

[Sean K]

Yikes!

The moves were welcomed by the International Monetary Fund. The central bank is scheduled to announce new monetary measures on Wednesday.

“There is no more money,” Mr Caputo said repeatedly in the recorded video, adding that Argentina needs to solve its “addiction” to fiscal deficits.

The government will slash spending equivalent to 2.9 per cent of gross domestic product, in a radical fiscal adjustment, according to a senior economic official.

 

[Craton]

What is this?
A prez with seemingly big kahunas and willing to go the hard yards to stamp out corruption?
Unheard of, lol...

Following with interest as per the "10 emergency economic measures" article in the Buenos AiresTimes.

 

[Dona Ferentes]

jeepers. bold. based on (reaction against) prior poor form, sadly.

 

[qldfrog]

Yikes!

View attachment 167155

The moves were welcomed by the International Monetary Fund. The central bank is scheduled to announce new monetary measures on Wednesday.

“There is no more money,” Mr Caputo said repeatedly in the recorded video, adding that Argentina needs to solve its “addiction” to fiscal deficits.

The government will slash spending equivalent to 2.9 per cent of gross domestic product, in a radical fiscal adjustment, according to a senior economic official.

Note that this resets the official peso rate to the black /market one.
Basically true rate...

 

[Sean K]

A new era for Argentina. Seems like a bit of a trend happening here.

 

[Country Lad]

Just to add to Argentina's woes:


An intense storm in Argentina has left at least 13 people dead and others injured in the southwestern port city of Bahía Blanca, according to Mayor Federico Susbielles and local authorities.

 

[Sean K]

I'm not sure if Klaus and Antonio would be cheering this on.

 

[UMike]

I Did.

 

[mullokintyre]

Its basically a year since that bloke with the worst hairstyle in the world ntook office in Argentina.
The results have been spectacular to say the least.
From Trading Economics
Mick

 

[Value Collector]

What's France's most successful colony frog? Quebec? New Caledonia? I like Vietnam but I'm not sure what you left them except for bread sticks which produced the amazing Banh Mi.

Geneva, Switzerland is probably France’s most successful colony.

 

[Dona Ferentes]

Geneva, Switzerland is probably France’s most successful colony.

absurd.

 

[Value Collector]

absurd.

Well, it was joke hence the laughing face, just pointing out that it was annexed by France around the time France was expanding its empire, and was part of France for a time and unlike other parts of Switzerland that speak German, French is still the main language in Geneva.

 

[Dona Ferentes]

JP Morgan has raised its estimate of Argentina’s GDP growth in the third quarter to 8.5%, one of the highest in the world.
.. JP Morgan is citing optimism around recent reforms by President Milei as the reason for such rapid growth