Cristina Fernández Describes Milei’s Economic Policies as a “Lethal Combo” for Argentina
Stock photo. Argentina’s former president Cristina Fernández de Kirchner. Photo: EFE/ Demian Alday Estévez
September 6, 2024 Hour: 3:42 pm
The former Argentine president Cristina Fernández criticized the economic policies implemented by Javier Milei, considering that the fiscal adjustment implemented is based on not paying debts and removing the state from “essential” functions, creating a “lethal combo” for the country.
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“Nine months after the arrival of the first global anarcho-capitalist experience in government, once again and as always, reality prevails over extravagant theories, inflammatory speeches and market-oriented phrases.” Fernández through a paper published on his social networks.
The former head of state titled her article as It’s bimonetary economy, stupid quoting that Milei did not respect its campaign promise to eliminate the intervention and control of the state on the lives of Argentines since currently “not only intervenes and controls, but also decides three of the four fundamental prices of the economy”: the price of the dollar, the price of money and the price of labour.
In addition, he claimed that the ultra-rightist only did was to release “the price of the economy” after deregulating tariffs for goods and services “although with certain limitations: electricity, gas and transport tariffs still retain meagre subsidies and the State still does not have reliable data on the real costs of these sectors.”
“If to this way of managing the four prices of the economy we add the fiscal adjustment of Milei -that it is inconsistent and unsustainable because it achieves it from the non-payment of debts due to the central administration and the withdrawal of the State from the functions essential for the very survival of the country as a nation-, produces a lethal combo”, argued Fernández.
Fernández added that this scenario, under a bimonetary economy, led the country to a “brutal fall” in economic activity, causing Argentina to be more expensive in dollars than developed countries.
“This makes the monthly inflation rate of 3% or 4%, which Milei and his ineffable Minister for the Economy (Luis Caputo) want us to believe is a success, a real social tragedy as it occurs in the context of a deep economic recession,” she said.
Autor: OSG
Fuente: EFE