Did Milei follow through on his radical economic plans for Argentina? | DW News
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- Опубліковано 14 гру 2024
- He took over an economy he himself described as "teetering on the edge of a precipice:" one characterized by triple-digit inflation, an overwhelming deficit and widespread poverty. Now -almost one year on - Argentine President Javier Milei credits himself with restoring order. But how do things look on the ground? DW Business speaks with Ramiro Tosi, former Undersecretary of Finance in Argentina and Alicia Garcia-Herrero, Chief Economist for Asia Pacific at Natixis and a close watcher of Latin American economies. Discussion covers Milei’s public sector reforms, the battle against inflation, Argentina’s trade ties and its potential to attract more foreign investment.
#Argentina #Milei #JavierMilei
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As usual dw interviews people close to the former government
This time better than before. But you are right
They seem to be positive about what he’s done though. Time will tell if it works.
Curbing such situation needs years and in the beginning situation gets worse.
He doesn't have many years.
Keep saying this to yourself buddy
@@DEonaraR:
Many countries have tried Milei approach in the passed and failed . ( some succeeded , Peru , Ecuador, El Salvador)
@@ProfessorFickle . U got to be kidding me, what's successful about Peru and Ecuador's neoliberalism approach??? The people suffer tremendously. Man, I lived in the region!!! Keep neoliberalism to u and those who profit from it!!!
just say he effed up man. At least own up to your failure.
The chart in the thumbnail is a little misleading. The chart is not starting at zero. A 150% annual inflation is much better than 300% but is still far from a reasonable one. It should also show poverty increase in the same timeline.
Chart should Also show productivity decrease , also consumption collapse ,
And unemployment increase
🤦♂️
Growing pains.
I don't think Argentina has a choice.
Of course people get poorer when the government doesn't invest ungodly sums into the economy. The only question is if the government can actually afford it...
These are propogandanist 😂
The first thing in an economy is to not have inflation. With inflation as high as Argentina has, the prices of products doesn't send a message, except just like static from a radio. Get inflation down to less than 5 percent a year or the economy will not function.
Before Millei people were richer? If you have state price controls and and an egg costs 1000 pesos, you are much richer than if eggs costs 10 000 pesos. But there is a small detail: there are no eggs to buy. The indicator used to measure poverty are completely irrelevant during hyper inflation. It is really unlikely that anyone there expected they will become richer tomorrow. Suggestions like these only display the aversion to change and hard reforms in western societies and leftist media. Exactly the opposite of what is needed for the future ahead.
Why are this videos about Millei on DW are published exactly after his interview on the Lex Friedman podcast? Is there a fear of successful Austrian economics example?
We get it. You only wanna hear what you like to hear. It's always the "leftist media". It's getting old.
There is a fear of social darwinism in general, because it's bad.
And yes, nobody expected it to work for the people, it's just proof the whole concept is flawed.
People “got poorer” but simultaneously have more spending power. Strange?
(Media never ceases.)
@@vornamenachname1572 you are the one that likes to hear what you want to hear. Milei's government has been success so far on balance.
Keep lying to yourself
His opponents wanted to do the same things as all the previous presidents and yet claimed that the results would be different……. For Argentina he represents an opportunity to break the cycle…. Hopefully Argentina will see inflation rates in the single digits in a few years time
Doesn't matter. People with jobs have to eat from garbage cans and can't send their kids to school because he cut the budgets. Even the police is protesting. On top of that Argentina's fertile ground is disappearing because of climate change. It's over.
The dude said he took financial advice from his cloned dogs. 😂 The world has gone mad.
Maybe by the middle of next year. We live in hope.
@@Brommearprevisão muito otimista
Angie here. What Milei is doing is amazing. DW is partial and basic. This cant be considered information.
Amazing? what is amazing is not beg others for money and don't flip-flop on what you said you would do.
Milei is destroying culture, education, research, everything that give a chance to a future in this country.
I have met researchers here in buenos aires, and they have all left or are taking off leaving. I have met scientists who lost their grants even though their work was privately funded, just because the Milei regime blocked everything out of pure ideology.
I am not even going to talk about culture; anything that relied even a bit in public money is disappearing for good. Those are wealth that will never reappear.
The amount of people under the poverty line has absolutely skyrocketed.
I know the situation was terrible, and i know the previous administration did a horrible job. But Milei is a death shell for the country.
@@IZn0g0uDatAllyou really think he can reverse 20 years of Peronism in one year? The poverty level was high to begin with,
@@Joelbrandan Read Your history it’s 80 years Peronism.
With some conservative-Dictators in the middle .
Lol so ignorant
Ok, basically, what he did was reduce the country’s money supply. Previous governments, struggling to secure loans in financial markets to cover fiscal deficits, resorted to printing money to sustain the welfare state. The current government, however, is taking steps to cut spending, sell public assets, reduce the number of public employees, limit income transfers to provinces, and avoid increasing wages and pensions above inflation.
This has understandably put a strain on the economy. People have stopped spending, the money supply has decreased, and uncertainty has grown. As a result, more people are unemployed, prices have stagnated above the population’s purchasing power, and poverty has increased.
Despite the immediate hardships, these measures are considered necessary for the country to realign with global economic realities in a few years.
The key question is how long the 56% of the population that lived in poverty can resist? Argentina is a reactionary country, not a pacifc one.
El problema es que no hay contra quien reaccionar. El gobierno que los metio en la pobreza ya no esta y protestar contra el que los esta sacando por no hacerlo de inmediato es absurdo
Well the inflation is coming down, so is the poverty. And the previous administration was a total faliure and left the country with 45% poverty anyways, it's not like anyone is missing them.
This government promised to bring stability (lower inflation) and for now it's looking like it's successful. Everything else is cope and seethe.
Lots of woke people in the comments that didn't even know where the country is... Argentina is recovering extremely fast with Milei's shock intervención
@@ccsc.f.675 I agree! A lot of people that are obviously trolling. I live in the region and u r the one that has no clue. The country is the same as it was, a little bit more poor and a lot more repressed!!
Could you please give us some concrete examples of that?
Thanks.
@@DEonaraR el pais no podria estar mas diferente, uno no entiende lo que significa la palabra revolucion hasta que la vive. Todo cambia a pasos agigantados, se termino el desabastecimiento, la recesion, la hiperinflacion, la guerra narco de rosario, etc. en unos meses. Ahora hay optimismo, las inversiones crecen, el credito, la gente mira a futuro y no solo a la proxima semana. Es extraordinario
@@gabrielandresbrollo9530 ... 😅... tu debes ser hijo de algun empresario que apoya a Milei, porque mi familia en Argentina cada día esta peor.!!! Y obvio nunca has vivido una revolucion. Ni te da la inaginacion para algo asi, si te ocurriera estarías llorando.
@@TheAllMightyGodofCodlos precios bajan y bajara muchisimo mas gracias a la importacion de productos extranjeros que son un 79% mas baratos, ademas de la baja de impuestos, aranceles, burocracia, estado y gasto publico innesesario, la transparencia estatal y auditorias, sin mencionar que llevamos meses sin dficit fiscal.. ya mencione que los sueldos aumentaron y le estan ganando a la inflacion?(que esta en 0%) y la diferencia entre el dolar BLUE(1050 pesos) y el dolat oficial(1943pesos) es casi nula, es ddcir se levantara el CEPO!!! y adios banca central
After 80 years of socialist policies they arw expecting Milei to come up with a miracle in 6 months.... How fair is that 😊
Socialism with no taxes on wealthy land owners. Try again
@jacobjones630 I'm sorry I made a little mistake.. I meant to say "fascism" .. But the Soviets proved that they are the same anyway..
@@vedatataman5598 The soviet Union never had a recession smart guy. Maybe learn a little history and economics before you star poppin off about the dreaded socialism.
@@jacobjones630 yeah ussr was so bad that it was secession not recession
@@jacobjones630especially Cristina! 😂😂😂
First of all, Argentina entered a recession 3 months before starting the adjustment and came out of it only 6 months after applying it. Secondly, inflation continued to fall while the economy was growing, which definitely refutes the idea that fighting inflation generates a recession. The recession was generated precisely by not fighting inflation.
give the man a chance.. I got friends in Argentina that are telling me that the prices are going down and things are slowly getting better, Argentina has been misslead or the last 100 years, you can not fix that in 12 months.
DW is disgustingly biased and honestly out right disrespectful as they show how much they know about our country (nothing) with this approach of paiting like poverty is an issue from December 2023 when milei took power. The previous administration not only left half of the country in poverty, but also with a 200% inflation and growing and a fiscal mess of 7% deficit with the country severely in debt. It was an absolute time bomb.
Milei is a big fan of Thatcher, but when Thatcher took the cruel to be kind approach there was banking, financial and professional services, pharmaceuticals and aerospace, etc, to plug the gap. I'm not sure what Argentina has up its sleeve other than oil.
Steaks, agribusiness, etc.
Rare Earth. The reason China is sneaking its way for a military base there.
Doesn't matter much what the industries are, like she said: "The problem with socialism is that you eventually run out of other people's money.”
@@cyberfunk3793 Argentina has a corruption problem, not an ideology problem, they are corrupt as it can get!!!
@@cyberfunk3793 Maybe, but only when it comes to socialism proper - listening to any Republican or random guy on the internet, the most basic of public services are quite likely to be labelled "far left" and socialist these days.
That’s an unsettling thumbnail image.
Last month was 2.7 monthly inflation so it's getting better. In December of last year was 25
This is so skewed against Milei, shame on you DW
They are scared people would want the same in their country because their salaries are funded by the government
Far left media as usual.
why these international news channel rely on commentary frm there planted ppl..............why cant they show real ppl on ground n there views............... its the same story everywhere
So in other words "why don't they show what I wanna see?"
MiMiMi
@@vornamenachname1572 yeah i want to see actual ppl who are facing those problems to have a voice rather than these ppl who most likely wont be living there........
They had a voice for years and constantly chose for bad financial governance with that voice. This is what's needed to get your country back in order
@@NiksAanDeWashand yeah same people than CHOSE this new guy ......... So dont be so obnoxious..........So it should be them who should give the feedback on the same guy
@@vornamenachname1572 well, for starters, i cant imagine a worse choice of person to interview than the former undersecretary of finance (now the opposition)
obviously they wouldnt have anything good to say about policies implemented by the other side? i actually had to do a double take hearing that
Most people suffer from the Nirvana Syndrome. Comparing unemployment now with what it was instead of what it would have been if nothing changed in 2023. Inflation was running at about 1% per day when he took office. That is hyperinflation. It was 2.7% per month in October 2024. That is a huge change.
The real question is: How much better/worse off are Argentinians now, and what would the unemployment rate have been with hyperinflation?
Everyone talks about our vountry for the transformation of Milei in just one year . He is a world leader and a reference. His theories will be copied all over the world and that makes me proud as an argentine.
THIS VIDEO CONVINCED ME I WILL VOTE FOR MILEI FOR 245 MORE YEARS
Hopefully by then he'll have a better economy
@@crosstraffic187 you won't have to wait that long, by next year it's already forecasted the economy will start growing around 3%, so you will have to continue coping and seething.
@@askeladd60when you annualize the economic growth of the last 3 months you get a growth of over 13%
@@sury1088if.. I annualized the money I earned the last hour US$12 => 12*24*365 = 105.000🤡😂😂
The best solution to high prices is high prices. If prices are high suppliers will try to profit by selling at the high prices. As supply increases prices fall.
Argentina grocery prices are more expensive than US right now! Argentina pesos are overvalued or cost of production is just high here or local businesses are reaping super profits??!!!
If they keep eleminating taxes and burocracy, it must work as good as it did in Poland or Irland. But they have a congress controlled by the opposition. Maybe, after the next eleccion, deeper reforms will be done. Lets see. At least, with this strong peso, inflation will drop constinuously.
Lots of lies, lots of propagandas, lots of biased news in DW News😂
We need a Milei in every country in Europe.
He’s doing an amazing job
Now Argentines know the real price of the goods.
Exactly. Now they can all see how poor they have actually been this whole time. Their poverty was not caused by Milei, simply revealed. With time under Milei's policies, they will become richer.
An economy doesn't have real growth if it based on money printing and debt which was the policies for decades, so its going to take years and politically that's too long but necessary or your just going to revert to what is was before.
en la teoria llevaba años, pero ya estamos mejor que en diciembre del año pasado antes de que asumiera este gobierno.
Miles has done a miracle for our country
DW became the best german speaker in favor of communism. Unbelievable we got to this point
DW could have hired someone who knew a little about the subject. Her questions are basic and dull
Anybody who has a problem with Milei's policies should pay 100% of the future IMF loans.
I mean, main problem is inflation...
Not anymore - its at 3,5 % at the moment :)
@@zbynekIIper day, maybe
@@zbynekIIand that's right, even so inflation is not the main problem. Now it's the mass unemployment + 50% poverty + deindustrialization + inflation
Inflation doesn't matter if you've a job and you've to eat from garbage cans or can't send your kid to school anymore.
@@Joey-ct8bm deflation is worse because that means the economy is falling
DW is showing all the bad things since the beginning, Argentina is doing great! Young people are returning to Argentina, this is incredibly!!!❤
They are?
Weird, for the first time I am meeting people in my country that moved here from Argentina....
Lately, a lot have moved here.
DW and Germans love big government. Wouldn't be the first time Germany abandonded personal resposibility and freedom for farsical statist ideals.
Cutting out subsidies always work in the long term.
In the short term , there will be severe pain.
Whatever that doesn’t kill you can only make you stronger.
Argentina should have the courage to live within its means years ago.
You must never live above your means.
You need to be tough…..
But if it does kill you?
@
In some countries, racial and religious strife will take over the country and literally killed the country.
Argentina would not have such problems.
It should be fine.
@windsong3wong828 - fortunately, Argentine is blessed not only with its geography but also with relatively small racial and religious tensions. Let's hope it gets out of this peacefully.
It seems that for these two ‘experts’ the economy consists of inflation rate and public debt while the huge increase in poverty of the alarming loss of jobs and industry are just a secondary thing. People starving but foreign speculators happy is the right track to follow, all right.
Shock politics doesnt work. Argentinas problem is a mix of a deep rooted oligarchy and corruption. They need cut down on both with severe measures. Corruption with life in prison and oligarchy with wealth redistribution. All nations who have good living standars e.g scandinavian coutries, have strong state control.Wealth and industry is created from the bottom, not from trickle down politics. And in the case of Argentina they have probably enormous access to natural resources based on massive land territory.
How long has he been at it now? a mess like argentina needs years and years if not decades to recover
ya nos recuperamos, los datos oficiales de octubre y noviembre todavía no fueron publicados, pero los provisorios ya dan que tuvimos una mejora respecto a octubre y noviembre del año pasado. La economia ya esta creciendo, el salario subiendo y las inversiones ni hablar.
all my friends in Argentina are suffering bot just from the services that were cutting down but from the fsr right movements that he relies on, is just work or die not caring for the people just for the inflation
claro claro
Poverty increased above 50%.
it would have increased even higher had a left-wing candidate won the elections, allowing hyperinflation to bring poverty to 80% like it ALREADY happened in Venezuela.
It was already on the up and at around 40%, up from 25 a few years earlier. No telling what it might have ended up at it nothing had changed
Also depends how Argintina is defining poverty
shadowbanning here is getting crazy
poverty => no inflation
milei is a genius 😂
*He's now looking towards CHINA for his rescue after failing to be helped by Washington 😂😂😂😂😂*
He did not. Xinnie was back kowtowing 😅😅
You Woke never get the signal right😊
@@ssuwandi3240
U-turn as Milei calls China ‘interesting trade partner’ and announces trip to China in January after China helps Argentina with 70 billions yuan in a swap deal to pay for imports and now repaying IMF debts ...😅
@@ssuwandi3240 Judging by this and your other comments you only follow news that suits your beliefs and ignore those that counteract them.
@JohnDoe-pk2hs but you settled in the West😄😄😄 Posting in West platform 🤤🤤🤤🤤🤤🤤🤤🤤🤤🤤🤤
From what government is the guy being interviewed?
Tosi was like: "Im gonna lie with my whole chest and say that people are living more comfortably" 😂😂😂😂. People losing their minds online more and more.
DW is a total liar and disgrace. You have lost the consciousness of journalism
The shock therapy is not new to Argentina. It's a country that has been operating over several shocks and in each of them the elite profits a lot. Argentina is more like the wild west, where fortunes can be made overnight, and also in one night you can lose everything. Just look at their stock market, someone who invested 20k on YPF or Banco Macro 2 years ago is getting an enormous return right now, something of around 1000%. It's hard to say how far this shock is gonna last, I think as long as the IMF supports them and the financial markets can profit on it there is going to be some cash in the account. L'Argentine est un bordel constant.
it's easy to talk about Argentina but i would like if you could move here and just like us, have 4 times less money than just 1 year ago. Then we can talk about how Argentina is doing so great
What job do you do in Argentina? Was it a government sponsored job? If so, then yes, you will now be appropriately more poor to reflect the true value of your contributions to society.
When you cut the Spending then do the Public Finances are increased for Investments in Infrastructure and Development Works.
O melhor estado do Brasil é o Ceará ❤🇧🇷💰
Milei at least seems like a smart man, if he will improve life in Argentina and have their interests at heart or no, that’s is another history especially with their high unemployment and poverty rates.
What speech gave you the impression that he is smart?... campaign speeches?... or when confronted about his fraudulent fund investment scheme?
@@DEonaraR Smart enough to figure out the country was broke and could not continue with the previous.
@@cyberfunk3793 . Everybody knew the country was broke, for 50 years now!!! Argentinians would had elected Mickie Mouse if it promised something different.
@@DEonaraR How can you _not_ get the impression that he is 'smart', at least in the socioeconomic fields, after doing a little research and listening to him outside of campaign speeches?
@@luxploded . No research needed, I lived in Argentina, at the time. Nothing smart about him. The Argentinian ruling class decided to sell what's left of Argentinian assets, and they picked him as the candidate. The same old m.o of neoliberalism. It's been happening in Argentina, but not in this scale. There is no surprise.
The cost of social programs.
So funny hear how they complained about China and how happy they sound when they speak to give the minerals of Argentina to Elon Musk 😂😂😂
Rome wasn’t built in a day
Milli seems to have good and sound policies.
I somehow get the feeling that western media is praying for him to fail.
Quite the opposite, he's a US and Israel worshiper!!
On the contrary, most are supporting him.
I'm not praying, i know his policies don't work, no need to pray.
@@AmonTheWitchlol😂
@@AmonTheWitch His policies have worked every time, the ones your side have tried have failed repeatedly everywhere for over 100 years.
This is exactly what the IMF would have demanded of Argentina. But it is good that the people will not be able to blame the Americans or some external evil force who imposes the austerity. However, this economic "plan" is nothing new in capitalism and we have seen this movie again and again. Maybe if the economy collapses bellow a certain level there will be some upward movement called "growth" or even a "boom", but eventually things will turn bad again.
Uhm, every time I see DW, I think on May 10, 1933. The day of the burning books in Germany.
But how can his popularity be improving ?? (Honest question)
good things take time.and argentinians are smart enough to know this. they already lowered inflation and balanced the budget. these are things that dont pay off immediatly. likely soon his policies will impact things.
We will know his popularity continues to improve when he is reelected to keep increasing economic freedom in Argentina.
Spoiler: Because he promised lower inflation and balancing the budget. And he did both things.
The rest is seething and coping by Milei opposers. He won with the 56% of the votes just a year ago and his support is untouched.
To fix Argentine problems you need to cover imports with exports. Yet Milei rejected to join BRICS. So how Milei plans to increase exports to West? Or cut expensive imports?
Argentina already tried doing that a century ago, and it didn’t work. Nowadays, it’s impossible to do that with a country the size of Argentina. The country has a very small internal market, and there’s no possible way of making Argentinian manufacturing competitive on a global scale. We can barely compete with Brazilians and Mexican manufacturing, let alone China.
Also, you don’t need to be a member of BRICS to export to other members of BRICS. The only thing Argentina can do now, is cut down public spending and hope for the best.
BRICS is a dead cow.BTW, Mercosur is not exactly a driver of economic growth either.
To solve argentinian problems you need to increase productivity and the ONLY way for a country so impoverished like Argentina is with foreign investment.
So misleading. Unbelievable.
Milei were begging China recently 😂😂😂
USA is too busy being Xenophobic to invest in South America, so we will take China's investment, Win Win for us South Americans.
😢China should not trade wid dem😢go ask USA 😢
The first words in this program are a factual lie. Poverty has already decreased!
Melei is a blessing to the people and a threat to communist like dw
Hahahah yeah, it must be a blessing to see a high inflation and your salary to stay flat. What a blessing 😭🙏🏻
Exactly. All the problems in the world today were triggered by DOLLAR PEGGED Kommunist regime currency. Imagine the State has been drowned in debts but pursuing 29 rockets launches 🙀🙀
Then increased the war spending and weapons trades with the top#1 Terror regime🥸🥸🥸🥸🥸
what people? poverty is increasing fast in Argentina
Another genius with no idea what a communist is
Don't worry people Trump will fix everything 💯💯💯 America is blessed to have a trump as president. The entire world could only dream of having a Trump as president ❤❤❤❤
DW always bringing their biased looked that doesn't reflect on reality
Nope, poverty has decreased (From 56% to 46%), he only sincered the poverty that the previous government was hiding using social assistance and food stamps, lowering down the inflation he lowered the poverty.
And Argentina is growing again, inflation is not necessarily a condition to genuine growth.
Next time call another person.
Asco dan, me arrepiento de haberlos seguido en su momento
The dude said he took financial advice from his cloned dogs. 😂 The world has gone mad.
Your brain is lacking something if you believe everything you read.
@@Joey-ct8bm Rents decreased by 30% and housing availability increased
Hay muchos libertarios ensobrados en los comentarios. 😅
It's the malaise and dependence on welfare that's the problem.
O fascista milei vai tentar recuperar falklend island ele não lutou no conflito de 82 e os inglês opõe qualquer perda de soberania...
C’mon the guy is a wacko!!!
I'd say he's probably the wisest global leader in the world today.
@ yeah you’re wise too btw
Biased.
😂Maybe he thought he could sell beef to India and soybeans to the U$.
Good Explanations. The Interviewer is a cynic!!!
Questioning is sometimes cynical when you are looking for answers
GOOD SELF HELP BOOK U2 BAND DESIRE SONG GOLD TEETH
Argentina will become the first 4° world country 😂😂
I don't see how this would be funny. Unless you are someone who is hoping for things to get worse and worse just because you don't like the person who is currently managing it.
Worse than Haiti or North Korea? How giving back freedom to the people of a nation result in becoming worse than any country in the world?
Don't worry people Trump will fix everything 💯💯💯 America is blessed to have a trump as president. The entire world could only dream of having a Trump as president ❤❤❤❤
Trump going to break a lot of things, let’s hope the government responds and quickly fixes what needs fixing.
@@ChalrieD it's obvious your broke and have no money invested in the stock market because if you did you would understand the economy is about to skyrocket. My stocks are up 35% since trump won the election. Don't be mad at trump that you accomplished nothing in life blame yourself 🤣🤣🤡🤡🤡🤣🤣
@ uhhh… you don’t think that with all the drastic changes they are making so quickly that ton’s of things aren’t going to break? Why are you making juvenile comments about my person you don’t know anything about me.
trump -> bigger deficits, more instability, weakening of the rule of law, bigger geopolitical tensions...
But the stock market goes up, Dow Jones went up 40% since january 2021, so why would anybody complain about the economy ever ;p ? The stock market is the only thing that matters. Who cares about God if you have a golden calf ?
Keep your trump to your country, he clearly does represent you better than anybody else ever could. You deserve him ^^.
@@ChalrieD
I realized anyone who is against Trump is a person who is seeking government charity. That's you 🤣🤣🤣🤣
This is the exact kind of issue cryptocurrency can help with.
Imf colonised them
Brain dead take.
this presenter is like the female version of Rob
The only people whining are living off of government spending. Government employees are a pariah on economic growth.
U re briliant handymen