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🇦🇷 Argentina /Economy & Trade

Milei says elections will not change his economic policies: “I will not erase with my elbow what I wrote with my hand”

From La Nación · () Spanish

Translated from Spanish and summarized by DistantNews. Read the original for the full story.

At a glance

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  • President Javier Milei said he would not loosen fiscal or monetary policy ahead of Argentina’s elections.
  • He said his government would continue restricting the money supply and pursuing fiscal balance to eliminate inflation.
  • Milei also predicted an electoral victory and said a similar result to the previous legislative elections could accelerate his reform program.

Javier Milei used a finance executives’ convention in Iguazú to make clear that Argentina’s approaching election year would not alter his economic course. “I will not arrive at this moment to change things and erase with my elbow what I wrote with my hand,” he said.

Speaking at the 47th annual convention of the Argentine Institute of Finance Executives, Milei rejected calls for a looser policy as the economy, wages and employment improve. He said he had spent his life preaching what needed to be done and had entered office “for the bronze,” rather than to abandon those principles when elections approach.

I will not arrive at this moment to change things and erase with my elbow what I wrote with my hand.

· Javier MileiMilei said the approaching election year would not persuade him to change his economic policies.

The president said the monetary base had remained unchanged for almost a year, yet inflation persisted. He argued that loosening monetary policy would bring inflation back and said his goal was to end “the damn inflation” permanently.

I will not change fiscal policy or monetary policy. I will continue with fiscal balance and tightening the amount of money until we defeat inflation.

· Javier MileiThe president restated his commitment to fiscal balance and tight monetary policy.

“I will not change fiscal policy or monetary policy. I will continue with fiscal balance and tightening the amount of money until we defeat inflation,” Milei said. He also criticized opposition leaders who, he claimed, wanted to keep money creation running throughout the year, as he said happened in 2023 when 13 percentage points of gross domestic product were issued in an effort to win an election.

Milei said his government would not return to that approach and predicted victory in the next election. He added that a result similar to the previous year’s legislative elections would give the government a majority in the Chamber of Deputies and leave it two senators short of a quorum in the Senate, allowing it to accelerate its reform agenda.

We do not want to return to that and we will not allow it. And next year we will win because I doubt Argentines are foolish enough to return to the past.

· Javier MileiMilei criticized the opposition and predicted an electoral victory.
About this summary

Originally published by La Nación in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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