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Argentina's Milei: Austerity Cuts Inflation but Increases Poverty

1/12/2025

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Summary

Story summary

Javier Milei's first year as Argentina's president has been a rollercoaster of austerity. While he slashed inflation from a staggering 211% to 120% and secured a budget surplus, the poverty rate skyrocketed to 53%. Critics fear his measures could widen the gap, yet investors are buoyed, with the stock market soaring 172% in 2024.

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Story summary

Javier Milei's first year as Argentina's president has been a rollercoaster of austerity. While he slashed inflation from a staggering 211% to 120% and secured a budget surplus, the poverty rate skyrocketed to 53%. Critics fear his measures could widen the gap, yet investors are buoyed, with the stock market soaring 172% in 2024.