It’s rough what the Argentine stock market is doing today

It’s rough what the Argentine stock market is doing today
It’s rough what the Argentine stock market is doing today

Huge changes can be expected in the eighth largest country in the world if Javier Milei is successful in completing his program. Argentina is experiencing its biggest crisis in two decades, inflation is already at 143 percent, and 40 percent of the population lives in poverty. In a catastrophic situation, right-wing, anti-elite and even anarcho-capitalist Milei is the embodiment of hope for many.

Javier Milei, a graduate in economics, advocates minimal government intervention, has promised to abolish the central bank and suggested that the national currency be replaced by dollars. To solve economic problems he advocates a serious budget expenditure reduction, according to his promise, the state will not place orders for infrastructure projects and would privatize many large state-owned companies.

Javier Miley has repeatedly stated that he does not wish to develop relations with Brazil, China and Russia, as he does not agree with the policies of these states, but at the same time he stated that he will not prevent private companies from doing business with these countries, reports MTI.

It stands out in today’s soaring of the Argentine stock market shares of state energy company YPF, which rose 30 percent to the news of the possibility of privatization, reports Reuters. THE banks are also performing well, among the shares traded on the American market yesterday, Bancoi Macro, Banco BBVA Argentina and Grupo Financiero Galicia posted a 17-24 percent increase.

Cover image source: Getty Images

The article is in Hungarian


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