{"id":2107754,"date":"2023-11-25T18:42:01","date_gmt":"2023-11-25T23:42:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/argentinas-new-leader-doubles-down-on-vow-to-shut-down-central-bank\/"},"modified":"2023-11-25T18:45:15","modified_gmt":"2023-11-25T23:45:15","slug":"argentinas-new-leader-doubles-down-on-vow-to-shut-down-central-bank","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/argentinas-new-leader-doubles-down-on-vow-to-shut-down-central-bank\/","title":{"rendered":"Argentina&#8217;s new leader remains committed to closing the Central Bank"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fargentinas-new-leader-doubles-down-on-vow-to-shut-down-central-bank%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2107754&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Argentina&#8217;s \u2064New Leader Doubles\u2063 Down on Vow \u200dto Shut Down Central Bank<\/h2>\n<p>Argentine President-elect Javier Milei is making waves with his bold campaign promises, even as he appoints moderates to key positions in his administration. In a statement, Milei declared that closing the central bank of Argentina is a &#8220;non-negotiable matter&#8221; and urged citizens to disregard \u2064any &#8220;false rumors&#8221; suggesting otherwise. This radical pledge is on track, but interestingly, Milei is assembling a Cabinet filled\u2062 with moderates.<\/p>\n<p>Instead of choosing a close \u200dally, Milei has appointed economist \u200bOsvaldo Giordano to lead Argentina&#8217;s social security administration,\u200b a move that aligns with Milei&#8217;s call \u200cfor\u200c spending cuts. It&#8217;s worth noting that Milei had initially planned for Emilio Ocampo, an advocate of dollarization, to head Argentina&#8217;s central bank. \u2064However, Ocampo is \u200cno longer part of Milei&#8217;s team, and Milei has named two former Wall Street veterans, Luis Caputo and Demian Reidel, to lead his economic\u2064 team \u200binstead.<\/p>\n<p>Milei&#8217;s call for dollarization of the economy has garnered attention, but some experts argue that it may not be feasible for Argentina. Santiago Bulat, an Argentine economist, points out that dollarization\u200c is not a\u200b magic solution and cites Ecuador&#8217;s experience as an example. Despite differing opinions, Caputo remains optimistic about bringing change to Argentina, emphasizing a fiscal and monetary\u2063 shock approach.<\/p>\n<p>Argentina&#8217;s\u200b economy is currently\u2062 grappling with high inflation rates, \u200destimated at 150 percent annually. Milei&#8217;s determination to shut \u200bdown the \u2062central bank \u2062reflects his \u2063commitment to implementing drastic measures to address the\u2064 country&#8217;s economic challenges.<\/p>\n<hr>\n<h3>An\u200b Urgent Note from Our Staff:<\/h3>\n<p><em><b>The \u200cWestern Journal has \u200cbeen \u2063<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/pfizer-recruits-super-bowl-champ-to-be-official-spokesman-for-covid-booster\/\" title=\"Pfizer hires Super Bowl champ as COVID booster spokesperson.\">labeled \u201cdangerous\u201d simply<\/a> \u2063because we have a biblical worldview and speak the truth about what is happening in\u2063 America.<\/b><\/em><\/p>\n<p><em><span style=\"font-weight: 400\">We refuse to let Big Tech\u200d and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/uncovered-american-tax-dollars-funding-way-more-than-just-weapons-in-ukraine\/\" title=\"American tax dollars funding more than just weapons in Ukraine uncovered.\">woke advertisers dictate<\/a>\u2062 the content we share with our community. We stand for truth. We stand for freedom. We stand with our readers.<\/span><\/em><\/p>\n<p><em><span style=\"font-weight: 400\">We\u2019re asking you to help us in\u2063 this\u200b fight.\u200c <\/span><a href=\"https:\/\/www.paypal.com\/donate\/?hosted_button_id=BM6XAWRJ8NS7A&#038;utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><b>We can\u2019t do this without you<\/b><\/a><b>.<\/b><\/em><\/p>\n<p><em><span style=\"font-weight: 400\">Your <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/governor-goes-around-voters-backs-signs-change-in-state-election-laws\/\" title=\"Governor sneaks behind voters, enacts new election laws.\">donation directly helps fund<\/a> our \u200beditorial team of writers and editors. If you would rather <\/span><a href=\"https:\/\/www.westernjournal.com\/subscribe\/?utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><span style=\"font-weight: 400\">become a WJ member<\/span><\/a><span style=\"font-weight: 400\">  outright, you can do that \u200dtoday as well. Your\u2062 support means we can continue\u2062 to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/christians-fight-back-after-city-tears-down-historic-cross-were-not-gonna-walk-quietly-into-the-night\/\" title=\"Christians resist as city demolishes iconic cross: 'We won't go silently'\">expose \u2063false\u200c narratives<\/a> and defend \u2063traditional \u200bAmerican values.<\/span><\/em><\/p>\n<p><em><a href=\"https:\/\/www.paypal.com\/donate\/?hosted_button_id=BM6XAWRJ8NS7A&#038;utm_source=site&#038;utm_medium=westernjournalism&#038;utm_campaign=authorpitch\"><span style=\"font-weight: 400\">Please stand with us\u200c by donating today<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/em><\/p>\n<p><em><b>Thank you for your support!<\/b><\/em><\/p>\n<p>The \u2064post <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\/argentinas-new-leader-doubles-vow-shut-central-bank\/\">Argentina&#8217;s New Leader\u2062 Doubles Down on\u200b Vow to Shut Down Central Bank<\/a> appeared first on <a rel=\"nofollow\" href=\"https:\/\/www.westernjournal.com\">The\u2064 Western Journal<\/a>.<\/p>\n<p> <\/p>\n<h2> What \u200bare the arguments made by proponents of dollarization \u2064in\u2063 Argentina,\u2064 and how do\u2064 skeptics respond to these claims<\/h2>\n<p><span>  K stems\u2064 from his belief that \u2064the institution is\u2062 responsible for exacerbating the country&#8217;s economic woes. In\u2062 his \u200cview, \u200bthe \u200dcentral bank&#8217;s policies, such as printing money to finance government spending, have only fueled inflation and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/ron-desantis-says-he-wants-to-cut-footprint-of-federal-agencies-in-dc-by-50\/\" title=\"Ron DeSantis aims to slash DC federal agencies' size by 50%.\">hindered economic growth<\/a>.<\/p>\n<p>Milei&#8217;s stance on the central bank is not without controversy. Critics \u2064argue\u2063 that closing the institution would have dire\u2062 consequences \u2064for Argentina&#8217;s \u2064financial system\u2063 and stability. They warn that\u2062 removing the\u2063 central bank \u2063could lead \u200bto \u200ba lack of monetary control, \u200bwhich could exacerbate inflation \u2064and destabilize the economy further.<\/p>\n<p>However, Milei remains resolute in his conviction. He \u200bbelieves that by shutting down the central bank, Argentina can break \u200dfree from the cycle of \u2063inflation and government mismanagement.\u200b His solution is to adopt a fully dollarized\u2063 economy, whereby the Argentine peso would be replaced entirely \u2063by \u2062the US dollar.<\/p>\n<p>Proponents\u2062 of dollarization argue that it would provide stability and restore confidence in\u2063 the economy.\u200b By adopting a more stable currency, they believe that Argentina \u200dcan attract \u2062foreign investment and \u200dimprove its financial standing on the \u200cglobal stage. They point to success stories like Panama, which has been dollarized\u200b since 1904 and has enjoyed a stable economy and\u200d low inflation rates.<\/p>\n<p>However, skeptics argue that dollarization may \u200dnot be a panacea for Argentina&#8217;s economic woes. They highlight that\u2063 surrendering control of the peso would limit the government&#8217;s ability to implement monetary \u200cpolicies\u200d to address economic challenges. Furthermore, it may lead to\u2064 a \u200bloss of sovereignty and hinder the \u2063country&#8217;s ability to respond to \u200bexternal shocks.<\/p>\n<p>Despite the skeptics, Milei&#8217;s promise to\u200c shut down the central bank and advocate for dollarization has resonated with a significant portion of the Argentine population. Many feel frustrated with the \u2062persistent economic crises\u200c and believe that radical \u2062changes are necessary to break \u2064the cycle.<\/p>\n<p>As Milei\u200b prepares to assume office, his cabinet choices signal a balance between his radical campaign\u2063 promises and \u2062the need for \u200dexperienced \u200btechnocrats. While appointing\u2062 moderate figures may help\u2063 reassure markets and investors, the real\u2063 test will lie\u2063 in implementing and delivering on his bold pledges.<\/p>\n<p>The upcoming months will\u200b be crucial for Milei to \u200bprove\u200d that his unconventional approach can bring \u200dabout the desired change. As he navigates the \u200bdelicate \u2063balance between bold reforms\u200d and economic stability, all eyes will be on Argentina to \u200csee if Milei&#8217;s unconventional approach can indeed disrupt the \u200cstatus quo and pave the\u200c way for a brighter economic future.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Argentine President-elect Javier Milei, despite appointing moderates to important positions, remains firm on one aspect of his campaign. He asserts that closing the central bank of Argentina is an absolute priority, dismissing any rumors suggesting otherwise as false<\/p>\n","protected":false},"author":661,"featured_media":2107755,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[548],"tags":[],"class_list":["post-2107754","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-conservative-news-daily"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2107754","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/661"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2107754"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2107754\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2107755"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2107754"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2107754"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2107754"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}