Argentina Shifts to Zero Monetary Issuance, Milei Announces

Javier Milei, Argentina’s libertarian President, has outlined new policies aimed at solidifying recent economic gains in the country. 

In a recent interview, Milei emphasized the approval of the omnibus law as pivotal, marking the transition to phase two of Argentina’s economic plan: zero monetary issuance. This shift aims to stabilize the broad monetary base to tackle inflation effectively. Milei previously signaled his intent to curb central bank money creation, proposing legislation to criminalize seigniorage, potentially penalizing officials, including the president, with jail time for approving excessive monetary issuance. 

Additionally, Milei announced upcoming tax reductions, notably eliminating the “country” tax on purchases from foreign markets to enhance Argentina’s economic competitiveness. He cited Ireland’s transformation as a model, aiming for Argentina to become the world’s freest and wealthiest nation.

Clever Robot News Desk 1^st July 2024