{"id":135890,"date":"2024-12-11T18:15:49","date_gmt":"2024-12-11T11:15:49","guid":{"rendered":"https:\/\/hotvideos24.online\/?p=135890"},"modified":"2024-12-11T18:15:49","modified_gmt":"2024-12-11T11:15:49","slug":"argentinas-economy-what-mileis-chainsaw-approach-has-delivered-in-a-year","status":"publish","type":"post","link":"https:\/\/hotvideos24.online\/?p=135890","title":{"rendered":"Argentina\u2019s economy: What Milei\u2019s chainsaw approach has delivered in a year"},"content":{"rendered":"<p> <script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<\/p>\n<div data-editable=\"content\" itemprop=\"articleBody\" data-reorderable=\"content\">\n<p>\n    <cite class=\"source__cite\"><br \/>\n      <span class=\"source__location\" data-editable=\"location\">London\/Bogota\/Buenos Aires<\/span><br \/>\n      <span class=\"source__text\" data-editable=\"source\">CNN<\/span><br \/>\n        \u00a0\u2014\u00a0<br \/>\n    <\/cite>\n<\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4h2smk7006d26pbdeug5eqn@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Javier Milei swept to power in Argentina a year ago on a ticket to tackle chronic hyperinflation and overhaul the long-suffering economy. In one regard \u2014 slashing the size of the state \u2014 he has proven so successful that Donald Trump\u2019s government efficiency tsars want to replicate his approach.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4h8s3t60003356mpuiq137q@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Under the chainsaw-wielding Libertarian economist, the government has posted rare consecutive monthly budget surpluses and inflation has fallen sharply \u2014 \u201cbetter-than-expected results,\u201d according to the International Monetary Fund.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4jrimv90002356n6hq31b2o@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            During a meeting with Milei at the Mar-a-Lago resort in Florida last month, Trump said Milei had done \u201ca fantastic job\u201d as president.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4h2w86000083b6mrryjaotw@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Investors have also cheered the changes in Argentina: Its flagship Merval stock index, which tracks around two dozen of the country\u2019s most valuable listed companies, has soared almost 140% this year.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4h2w86000093b6m84helndu@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            But the budget cuts have come at a cost to ordinary Argentines. The poverty rate <a href=\"https:\/\/www.cnn.com\/2024\/09\/27\/business\/argentina-poverty-rate-increase-50-percent\/index.html\">has jumped<\/a> above 50% from an already high level, the economy, the third largest in Latin America, has slid even deeper into recession and unemployment is on the rise.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4i7ujqe000f3b6m53filnfh@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Natalia Burone, who provides free meals to 80 families in a town on the outskirts of Buenos Aires, told CNN that demand has risen substantially. \u201cThere is growing desperation because people have nothing to eat, and I can\u2019t take in anyone else because we have no more capacity.\u201d\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4h2w860000f3b6mo4vlje0w@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            The International Monetary Fund sees Argentina\u2019s gross domestic product shrinking by 3.5% this year, following a 1.6% contraction last year. Projected growth of 5% next year will, in simple terms, just about reverse those declines.\n    <\/p>\n<div data-uri=\"cms.cnn.com\/_components\/image\/instances\/cm4i89i3q00013b6mc1bs6xsc@published\" class=\"image image__hide-placeholder\" data-image-variation=\"image\" data-name=\"03 c-GettyImages-2152202470.JPG\" data-component-name=\"image\" data-observe-resizes=\"\" data-breakpoints=\"{\" image--eq-extra-small=\"\" data-original-ratio=\"0.6666666666666666\" data-original-height=\"1600\" data-original-width=\"2400\" data-url=\"https:\/\/media.cnn.com\/api\/v1\/images\/stellar\/prod\/03-c-gettyimages-2152202470.JPG?c=original\" data-editable=\"settings\">\n<div class=\"image__container \" data-image-variation=\"image\" data-breakpoints=\"{\" image--eq-extra-small=\"\">\n       <picture class=\"image__picture\"><source height=\"1600\" width=\"2400\" media=\"(min-width: 1280px)\" srcset=\"https:\/\/media.cnn.com\/api\/v1\/images\/stellar\/prod\/03-c-gettyimages-2152202470.JPG?q=w_1110,c_fill\/f_webp\" type=\"image\/webp\"><source height=\"1600\" width=\"2400\" media=\"(min-width: 960px)\" srcset=\"https:\/\/media.cnn.com\/api\/v1\/images\/stellar\/prod\/03-c-gettyimages-2152202470.JPG?q=w_1015,c_fill\/f_webp\" type=\"image\/webp\"><source height=\"1600\" width=\"2400\" media=\"(min-width: 480px)\" srcset=\"https:\/\/media.cnn.com\/api\/v1\/images\/stellar\/prod\/03-c-gettyimages-2152202470.JPG?q=w_1160,c_fill\/f_webp\" type=\"image\/webp\"><source height=\"1600\" width=\"2400\" media=\"(max-width: 479px)\" srcset=\"https:\/\/media.cnn.com\/api\/v1\/images\/stellar\/prod\/03-c-gettyimages-2152202470.JPG?q=w_680,c_fill\/f_webp\" type=\"image\/webp\"><img decoding=\"async\" src=\"https:\/\/media.cnn.com\/api\/v1\/images\/stellar\/prod\/03-c-gettyimages-2152202470.JPG?q=w_1110,c_fill\" alt=\"Homeless people sleep at the gates of the closed Retiro train station during a general strike on May 9, in Buenos Aires, Argentina. \" class=\"image__dam-img image__dam-img--loading\" onload=\"this.classList.remove('image__dam-img--loading')\" onerror=\"imageLoadError(this)\" height=\"1600\" width=\"2400\" loading=\"lazy\"\/><\/source><\/source><\/source><\/source><\/picture>\n    <\/div>\n<\/div>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4i7xp5s000i3b6md7th3ncr@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201cIf you look at inflation and the fiscal situation, that has been a huge and remarkable success,\u201d said Hans-Dieter Holtzmann, the Buenos Aires-based project director for Argentina, Brazil, Paraguay and Uruguay at the Friedrich Naumann Foundation for Freedom, a liberal German think tank.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4h2w860000b3b6ml536f3jd@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201c(But)<strong> <\/strong>the country is still in a recession, and it\u2019s actually in a deeper recession as a result of budget cuts,\u201d he told CNN.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4h2w860000c3b6ml6qufaie@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Milei \u2014 who likes to brandish a chainsaw to symbolize budget<strong> <\/strong>cuts \u2014 has slashed the number of government ministries to eight from 18 and laid off more than 30,000 government employees so far. He has also scrapped energy and transport subsidies, halted virtually all public infrastructure projects, ended most subsidies to local governments and frozen public sector wages and pensions.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4h2w860000e3b6ml8xjnawq@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            For example, in November 2023, a bus ticket in Buenos Aires cost only around 70 pesos (7 cents) thanks to subsidies, a price too low to cover running costs, let alone investment in transport infrastructure. Public transport prices have since increased tenfold, Holtzmann noted, making a daily bus ride unaffordable for many Argentines.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4h2w860000d3b6mon1wgbe1@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Many of these cuts were necessary to rein in a bloated, inefficient and spendthrift state. But the adjustment has proved painful in a country where roughly every 10th person is employed in the public sector.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4h2w860000h3b6mum83qmmk@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Yet, despite the harsh consequences of his policies, polling shows sustained public support for Milei.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4i8b4l700003b6mlue0f43l@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Milei \u201csaid that things would get worse before they got better, and only now we\u2019re seeing they are getting better\u2026 so people trust him,\u201d said Matteo Maffia, a 33-year-old communications consultant from<strong> <\/strong>the outskirts of Buenos Aires.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4h2w860000j3b6mssiocavp@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Slower price rises have been a welcome change for a population that has suffered hyperinflation for years. Month-on-month inflation eased to 2.7% in October, from 25.5% when Milei took office last December. Compared with a year earlier, prices rose 193% in October, much less than the annual inflation rate of 211% recorded in December 2023.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4h2w860000k3b6mt20o2jsr@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201c(Before Milei), as soon as you got paid for a job, you\u2019d try to buy as much as possible, because the peso was losing value almost every hour,\u201d Maffia told CNN. \u201cNow, I sometimes go to the shops, and I\u2019m surprised the prices are remaining the same\u2026 It feels completely new.\u201d\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4h2w860000l3b6mmt0s2umu@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            This newfound stability is benefitting Maffia\u2019s work too, with clients committing to longer-term contracts. \u201cPeople are planning, they are considering what investments to make, whereas before you basically just worked day-to-day.\u201d\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4hister00003b6myw32ep6g@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Alongside efforts to repair public finances, Milei \u2014 a self-described anarcho-capitalist, who advocates for minimizing the size of the state \u2014 has slashed red tape.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4h2w860000p3b6mvq9lhmju@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Speaking on a <a href=\"https:\/\/lexfridman.com\/javier-milei-transcript\" target=\"_blank\" rel=\"noopener\">podcast<\/a> last month, he said his deregulation ministry eliminates between one and five regulations a day.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4h2w860000q3b6mwifgiaj8@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            He added that Elon<strong> <\/strong>Musk, the co-chair of Trump\u2019s new <a href=\"https:\/\/www.cnn.com\/2024\/11\/12\/politics\/elon-musk-vivek-ramaswamy-department-of-government-efficiency-trump\/index.html\">Department of Government Efficiency<\/a>, which aims to cut \u201cwasteful\u201d expenditure and \u201cexcess\u201d regulations, is a fan of his \u201cchainsaw approach\u201d to government bureaucracy and wants to copy the model over to the United States.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4h8ks6d00023b6mcrerj5la@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            That would<strong> <\/strong>align Musk with his co-chair Vivek Ramaswamy, who wrote last month<strong> <\/strong>on X: \u201cA reasonable formula to fix the US government: Milei-style cuts, on steroids.\u201d\n    <\/p>\n<div data-uri=\"cms.cnn.com\/_components\/image\/instances\/cm4i8n0vx000m3b6mi778t0uj@published\" class=\"image image__hide-placeholder\" data-image-variation=\"image\" data-name=\"02 2024-11-18T100452Z_2000481063_RC2E5BAT8FX7_RTRMADP_3_ARGENTINA-MILEI-INVESTORS-(1).JPG\" data-component-name=\"image\" data-observe-resizes=\"\" data-breakpoints=\"{\" image--eq-extra-small=\"\" data-original-ratio=\"0.6666666666666666\" data-original-height=\"1600\" data-original-width=\"2400\" data-url=\"https:\/\/media.cnn.com\/api\/v1\/images\/stellar\/prod\/02-2024-11-18t100452z-2000481063-rc2e5bat8fx7-rtrmadp-3-argentina-milei-investors-1.JPG?c=original\" data-editable=\"settings\">\n<div class=\"image__container \" data-image-variation=\"image\" data-breakpoints=\"{\" image--eq-extra-small=\"\">\n       <picture class=\"image__picture\"><source height=\"1600\" width=\"2400\" media=\"(min-width: 1280px)\" srcset=\"https:\/\/media.cnn.com\/api\/v1\/images\/stellar\/prod\/02-2024-11-18t100452z-2000481063-rc2e5bat8fx7-rtrmadp-3-argentina-milei-investors-1.JPG?q=w_1110,c_fill\/f_webp\" type=\"image\/webp\"><source height=\"1600\" width=\"2400\" media=\"(min-width: 960px)\" srcset=\"https:\/\/media.cnn.com\/api\/v1\/images\/stellar\/prod\/02-2024-11-18t100452z-2000481063-rc2e5bat8fx7-rtrmadp-3-argentina-milei-investors-1.JPG?q=w_1015,c_fill\/f_webp\" type=\"image\/webp\"><source height=\"1600\" width=\"2400\" media=\"(min-width: 480px)\" srcset=\"https:\/\/media.cnn.com\/api\/v1\/images\/stellar\/prod\/02-2024-11-18t100452z-2000481063-rc2e5bat8fx7-rtrmadp-3-argentina-milei-investors-1.JPG?q=w_1160,c_fill\/f_webp\" type=\"image\/webp\"><source height=\"1600\" width=\"2400\" media=\"(max-width: 479px)\" srcset=\"https:\/\/media.cnn.com\/api\/v1\/images\/stellar\/prod\/02-2024-11-18t100452z-2000481063-rc2e5bat8fx7-rtrmadp-3-argentina-milei-investors-1.JPG?q=w_680,c_fill\/f_webp\" type=\"image\/webp\"><img decoding=\"async\" src=\"https:\/\/media.cnn.com\/api\/v1\/images\/stellar\/prod\/02-2024-11-18t100452z-2000481063-rc2e5bat8fx7-rtrmadp-3-argentina-milei-investors-1.JPG?q=w_1110,c_fill\" alt=\"President-elect Donald Trump shakes hands with Argentine President Javier Milei at the America First Policy Institute (AFPI) gala at Mar-A-Lago in Palm Beach, Florida, in November 2024.\" class=\"image__dam-img image__dam-img--loading\" onload=\"this.classList.remove('image__dam-img--loading')\" onerror=\"imageLoadError(this)\" height=\"1600\" width=\"2400\" loading=\"lazy\"\/><\/source><\/source><\/source><\/source><\/picture>\n    <\/div>\n<\/div>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4i8cgqy00023b6m1eld9yy0@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Milei has also been working to attract more<strong> <\/strong>business investment, crucial to boosting economic growth.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4h2w860000t3b6m39akgiew@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            As much as $50 billion in foreign investment could flow into Argentina as a result of a new law that offers incentives to invest, including generous tax breaks, according to the Argentine government\u2019s estimates quoted by KNG Securities, a financial firm.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4h2w860000u3b6mfrj6xqqe@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            But capital controls, which limit the flow of foreign currency into and out of the country, are giving investors pause.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4h2w860000v3b6myeghq03j@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            The government also continues to set the exchange rate: Having shelved Milei\u2019s campaign pledge to <a href=\"https:\/\/www.cnn.com\/2023\/11\/20\/economy\/argentina-peso-dollar\/index.html\">dollarize the economy<\/a>, it devalued the peso by 54% against the US dollar last December and then by another 2% each month since. Despite this, the currency is still overvalued, according to economists.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4h2w860000w3b6mvlnlfp1q@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201cOne of the key underlying issues of Argentina\u2019s woes (is) the overvalued peso, which is eroding Argentina\u2019s external competitiveness,\u201d Kimberley Sperrfechter, emerging markets economist at consultancy Capital Economics, wrote in a recent note. A weaker peso would make the country\u2019s exports more attractive to foreign buyers.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4h2w860000x3b6mh8ldsdw9@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201cAbsent a weaker currency, it\u2019s hard to see Argentina\u2019s economy returning to growth on a sustained basis while maintaining the progress in terms of fixing (public)<strong> <\/strong>balance sheets that\u2019s been achieved so far.\u201d\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4h2w86000123b6mdq5hkj62@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Many foreign investors are waiting for further evidence of Argentina\u2019s economic turnaround before making long-term commitments. On that front, Milei\u2019s volatile temperament could undermine his ability to push further reforms through Congress, where his party does not have a majority in either chamber.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4h2w86000143b6mgl3p6ea7@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Milei frequently attacks politicians at home and abroad<strong> <\/strong>who he regards as supporting a \u201csocialist agenda.\u201d And on a recent visit to Spain, he called the Spanish prime minister\u2019s wife \u201ccorrupt.\u201d\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4h2w86000163b6m2lw5rwtg@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Milei has also previously called Brazil\u2019s President Luiz Inacio Lula da Silva an \u201cangry communist,\u201d damaging the chances of closer ties with an important trading partner and South America\u2019s biggest economy.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4h2w86000183b6mag9ks0yg@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201cForeign companies considering Argentina as an attractive location for investment are irritated by Milei\u2019s constant diplomatic skirmishes,\u201d Holtzmann of the Friedrich Naumann Foundation said in a recent <a href=\"https:\/\/www.freiheit.org\/one-year-javier-mileis-economic-policy\" target=\"_blank\" rel=\"noopener\">note<\/a>.\n    <\/p>\n<div data-uri=\"cms.cnn.com\/_components\/image\/instances\/cm4i8oa4i000s3b6mo5fsqowj@published\" class=\"image image__hide-placeholder\" data-image-variation=\"image\" data-name=\"05 c-GettyImages-2187902933.JPG\" data-component-name=\"image\" data-observe-resizes=\"\" data-breakpoints=\"{\" image--eq-extra-small=\"\" data-original-ratio=\"0.6666666666666666\" data-original-height=\"1600\" data-original-width=\"2400\" data-url=\"https:\/\/media.cnn.com\/api\/v1\/images\/stellar\/prod\/05-c-gettyimages-2187902933.JPG?c=original\" data-editable=\"settings\">\n<div class=\"image__container \" data-image-variation=\"image\" data-breakpoints=\"{\" image--eq-extra-small=\"\">\n       <picture class=\"image__picture\"><source height=\"1600\" width=\"2400\" media=\"(min-width: 1280px)\" srcset=\"https:\/\/media.cnn.com\/api\/v1\/images\/stellar\/prod\/05-c-gettyimages-2187902933.JPG?q=w_1110,c_fill\/f_webp\" type=\"image\/webp\"><source height=\"1600\" width=\"2400\" media=\"(min-width: 960px)\" srcset=\"https:\/\/media.cnn.com\/api\/v1\/images\/stellar\/prod\/05-c-gettyimages-2187902933.JPG?q=w_1015,c_fill\/f_webp\" type=\"image\/webp\"><source height=\"1600\" width=\"2400\" media=\"(min-width: 480px)\" srcset=\"https:\/\/media.cnn.com\/api\/v1\/images\/stellar\/prod\/05-c-gettyimages-2187902933.JPG?q=w_1160,c_fill\/f_webp\" type=\"image\/webp\"><source height=\"1600\" width=\"2400\" media=\"(max-width: 479px)\" srcset=\"https:\/\/media.cnn.com\/api\/v1\/images\/stellar\/prod\/05-c-gettyimages-2187902933.JPG?q=w_680,c_fill\/f_webp\" type=\"image\/webp\"><img decoding=\"async\" src=\"https:\/\/media.cnn.com\/api\/v1\/images\/stellar\/prod\/05-c-gettyimages-2187902933.JPG?q=w_1110,c_fill\" alt=\"Argentina's President Javier Milei, Uruguay's President Luis Lacalle Pou, European Commission President Ursula von der Leyen, Brazil's President Luiz Inacio Lula da Silva and Paraguay's President Santiago Pena pose for the family picture of the LXV Mercosur Summit in Montevideo, Uruguay, on December 6.\" class=\"image__dam-img image__dam-img--loading\" onload=\"this.classList.remove('image__dam-img--loading')\" onerror=\"imageLoadError(this)\" height=\"1600\" width=\"2400\" loading=\"lazy\"\/><\/source><\/source><\/source><\/source><\/picture>\n    <\/div>\n<\/div>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4i8my1m000k3b6mll9x1v3o@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            But a <a href=\"https:\/\/www.cnn.com\/2024\/12\/06\/americas\/eu-south-america-trading-bloc-intl-latam\/index.html\">blockbuster free trade agreement<\/a> with the European Union \u2014 reached Friday between the bloc and Argentina, Brazil, Paraguay, Uruguay and Bolivia \u2014 could improve Argentina\u2019s relations with its neighbors and Europe, helping the economy.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4jrbjtn0000356nn3x51pyd@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            And on Tuesday, during a televised address to commemorate his first year in office, Milei said his government would seek a free trade agreement with the US next year, although the prospects of that appear dim.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4h2w860001a3b6mw61i9bd0@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            At least for now, most Argentines<strong> <\/strong>seem willing to give Milei the benefit of the doubt.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4h2w860001c3b6my3s97gc8@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201cIt was difficult to vote for him at first\u2026 but I see that more and more Argentines are realizing every day that his plans are working,\u201d said Flor Maffia, a retired school teacher. \u201cThere\u2019s a new wind (of hope)<strong> <\/strong>in Argentina.\u201d\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4h2souv00003b6m6doqb8a3@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            Likewise, Diego Fenoglio, an entrepreneur and founder of Rapanui, a chain of ice cream bars in the country, says Milei\u2019s government is on the right track.\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4h2w86000103b6mpw5wesun@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            \u201cThere\u2019s still so much to do but, if they continue working as they are, this country will be unrecognizable in five to eight years compared with where it was just a year or so ago.\u201d\n    <\/p>\n<p class=\"paragraph inline-placeholder vossi-paragraph\" data-uri=\"cms.cnn.com\/_components\/paragraph\/instances\/cm4jr31ay00093b6nqklaojtq@published\" data-editable=\"text\" data-component-name=\"paragraph\" data-article-gutter=\"true\">\n            <em>Mauricio Torres contributed reporting.<\/em>\n    <\/p>\n<\/p><\/div>\n<p><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3711241968723425\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-format=\"fluid\"\r\n     data-ad-layout-key=\"-fb+5w+4e-db+86\"\r\n     data-ad-client=\"ca-pub-3711241968723425\"\r\n     data-ad-slot=\"7910942971\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><br \/>\n<br \/><div data-type=\"_mgwidget\" data-widget-id=\"1660802\">\r\n<\/div>\r\n<script>(function(w,q){w[q]=w[q]||[];w[q].push([\"_mgc.load\"])})(window,\"_mgq\");\r\n<\/script>\r\n<br \/>\n<br \/><a href=\"https:\/\/www.cnn.com\/2024\/12\/10\/business\/milei-argentina-economy-impact-intl\/index.html\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>London\/Bogota\/Buenos Aires CNN \u00a0\u2014\u00a0 Javier Milei swept to power in Argentina a year ago on a ticket to tackle chronic hyperinflation and overhaul the long-suffering economy. In one regard \u2014 &hellip; <a href=\"https:\/\/hotvideos24.online\/?p=135890\" class=\"more-link\">Read More<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[],"class_list":["post-135890","post","type-post","status-publish","format-standard","hentry","category-world","entry"],"_links":{"self":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/135890","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=135890"}],"version-history":[{"count":0,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=\/wp\/v2\/posts\/135890\/revisions"}],"wp:attachment":[{"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=135890"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=135890"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hotvideos24.online\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=135890"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}