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Milei Reiterates Inflation Will Fall, Distinguishes 'Work Colleagues' from 'Comrades'
🇦🇷 Argentina /Economy & Trade

Milei Reiterates Inflation Will Fall, Distinguishes 'Work Colleagues' from 'Comrades'

From La Nación · (9m ago) Spanish

Translated from Spanish, summarized and contextualized by DistantNews.

TLDR

  • Argentine President Javier Milei reiterated his prediction that inflation will decrease, citing a drop in money demand in the latter half of last year.
  • Milei playfully distinguished between "work colleagues" and "comrades," distancing himself from Peronist terminology.
  • He explained that as money demand recovers, and without excessive currency issuance, the inflation rate is expected to fall.

President Javier Milei reaffirmed his confidence in Argentina's economic trajectory, confidently stating that inflation is set to decline. Speaking at the "Keynes and the General Theory" debate at the Libertad Palace, Milei pointed to the decrease in money demand during the latter half of 2023 as a key factor that previously drove up prices.

va a caer hacia delante

— Javier MileiPresident Milei's statement predicting a future decrease in inflation.

"The demand for money is recovering; therefore, if we do not issue [currency], or if what we issue to buy dollars is channeled elsewhere, the inflation rate going forward will fall," Milei explained, elaborating on the economic dynamics at play. He noted that while these factors were anticipated, they were not widely understood at the time, humorously remarking that they felt "more alone than Adam on Mother's Day."

Durante el último semestre del año pasado, se desplomó la demanda de dinero y eso hizo saltar el nivel de precios. Al saltar el nivel de precios, la dinámica inflacionaria muestra un salto

— Javier MileiMilei explaining the relationship between money demand and price levels that previously influenced inflation.

Beyond economic pronouncements, Milei also seized the opportunity to draw a clear line regarding political terminology. When libertarian deputy Adrián Ravier referred to officials present as "compañeros" – a term strongly associated with Peronism – Milei quickly interjected with a clarification that drew laughter and applause: "Not comrades, work colleagues."

Ese mismo elemento lo íbamos anticipando en las distintas entrevistas, pero nadie entiende nada, así que estábamos más solos que Adán el Día de la Madre

— Javier MileiMilei's humorous remark about the lack of understanding regarding his economic predictions.

This playful yet pointed remark underscores Milei's distinct political identity and his administration's commitment to breaking from traditional political discourse. By emphasizing "work colleagues," he subtly reinforces his administration's focus on meritocracy and professional collaboration, distancing himself from the ideological connotations often tied to the term "compañeros" within Argentine politics. The event also saw the participation of economist Juan Carlos de Pablo, further enriching the discussion on economic theory and policy.

La demanda de dinero se está recuperando; por lo tanto, si no emitimos, o el que emitimos para comprar dólares lo sacamos por otra ventanilla, la tasa inflacionaria hacia delante va a caer

— Javier MileiMilei detailing the conditions under which inflation is expected to fall, linking it to money demand and currency issuance.
DistantNews Editorial

Originally published by La Nación in Spanish. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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