Milei Is Not to Blame for Argentina’s Problems, It’s Socialism

Commentary:
The Argentine Republic’s Central Bank does not need to devalue the peso following Javier Milei’s victory in the presidential primaries. Both the central bank and the Peronist government have consistently devalued the peso and caused the currency to depreciate over the years. The devaluation is necessary because the central bank has exhausted its reserves.

Argentina is not facing a threat from “anti-system” or “far-right” forces. The country is already governed by a far-left and anti-system government. The XXI Century Socialism promoted by Peronist Fernandez de Kirchner advocates for policies that extract and confiscate wealth through monetary and fiscal measures. This is the so-called “inclusive” monetary policy, as labeled by Axel Kicilloff, Cristina Fernandez de Kirchner’s former economy minister.



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