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Argentina's Milei says shutting central bank 'non-negotiable' (www.reuters.com)

submitted 1 year ago by goat@sh.itjust.works to c/world@lemmy.world

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[-] autotldr@lemmings.world 3 points 1 year ago

This is the best summary I could come up with:

BUENOS AIRES, Nov 24 (Reuters) - Argentina's President-elect Javier Milei said on Friday that the closure of the country's central bank, a signature campaign pledge, was a "non-negotiable matter", according to a statement from his office posted on social media platform X.

The comments, in response to what he called "false rumors", come as the outsider libertarian economist races to put together his team ahead of taking office on Dec. 10, with some signs that he is picking a more moderate Cabinet that expected.

That marks a shift from a previous plan that Milei would appoint a close ally to lead the administration.

Horacio Marin, a private energy sector executive, was also confirmed as the incoming chief of state oil company YPF.

Milei faces major hurdles to implement his more radical reform plans, which include dollarizing the economy, shutting the central bank and privatizing state companies like YPF, which will take time if they can be done at all.

Milei also has to juggle demands from the more mainstream conservative bloc, whose public backing was key to him winning the run-off election last week.

The original article contains 232 words, the summary contains 184 words. Saved 21%. I'm a bot and I'm open source!

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this post was submitted on 25 Nov 2023

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