Argentina’s new president immediately reneged on inflation promise
When fiery Argentinian president Javier Milei took office this month, he closed half the government ministries during his first day at work. The move gave some citizens hope that he would fulfill his campaign promises — including stabilizing the economy, currency, and even hinting at crypto-forward policies in the future. Unfortunately, he has already reneged on a major campaign promise to reduce inflation . Instead, Javier Milei doubled inflation overnight . Within 24 hours of assuming the presidency, he devalued the Argentine peso’s official exchange rate against the US dollar from 366.5 pesos per dollar to 800 pesos per dollar. The country’s economy minister, Luis Caputo, said in a televised statement that Argentina would target a further monthly devaluation of 2%. To be clear, that is an official forecast to inflate. Javier Milei is big on decentralization but does he care about bitcoin? Read more: Argentina ’s leading president ial candidate sued for alleged crypt...