Javier Milei is firm: The central bank must close
One of President-elect Javier Milei's election promises was to close Argentina's central bank. That issue is not negotiable, his office now writes on X according to Reuters.
Milei has also said he will cut government spending and subsidies and privatize state-owned enterprises to fight the country's runaway inflation. He also wants to phase out the Argentine peso and replace it with the US dollar.
In addition, the issue of a free trade agreement between the EU and the so-called Mercosur countries - Argentina, Brazil, Paraguay and Uruguay - remains unresolved, TT writes. Milei has in fact questioned the usefulness of both the agreement and the entire Mercosur customs union.
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Unions promise resistance and protests against Milei's reforms
Several unions and organizations in Argentina are threatening protests if President-elect Javier Milei keeps his election promises to cut the state treasury and privatize companies, AP writes.
Milei gained a lot of attention when, during his election campaign, he used a chainsaw to demonstrate what he wanted to do with public spending.
The head of a pilots' union, Pablo Biró, says Milei "literally has to kill us" to push through his plan to change the ownership structure of state-owned airline Aerolineas Argentinas.
- The moment you go ahead with reforms related to workers' rights, we will take a position, says Héctor Dear, general secretary of the General Workers' Union, at the same time.
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