LATIN AMERICA
After reconciliation with imperialism, Milei prepares new attacks
President to intensify implementation of his neoliberal program
During a visit to the Corporación América business group, Argentine President Javier Milei promised to accelerate his policy of economic destruction and alignment with US imperialism. The president even said, in a warning tone, that the population should “tighten their belts” because “there are going to be more reforms”.
After successive attacks on the Argentine economy with radical reforms to dismantle labor laws and cut social rights, Javier Milei’s government plunged the country into a critical situation marked by stagflation, increased informality and widespread social deterioration.
Despite a recent reduction in inflation to annual rates of around 30%, also a reflection of the austerity policies imposed, Argentina maintains an environment of recession, low growth and high unemployment disguised by growing informality. Stagflation – a situation that combines high inflation with low economic growth – is the challenge that aggravates the crisis with profound effects on working families.
Faced with this critical situation and popular pressure, the government sought support from US imperialism through a loan. This agreement, facilitated by the International Monetary Fund (IMF), has guaranteed, according to recent figures, a disbursement of around 800 million dollars to try to put the house in order and avoid an imminent financial collapse. The loan is a condition for the continuation of fiscal adjustment measures, committing Argentina to a policy of economic destruction.
