Australian (ASX) Stock Market Forum

Argentina's market drops 48% in one day

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

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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.
 
Yikes!

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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...
 
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. 😅
 
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.
 
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
 
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