Argentina celebrates first quarterly budget surplus in 16 years

For those unfamiliar Argentina was, at the start of the 20th century, among the richest countries on Earth.<p>After many decades of mismanagement, it has a GDP per capita roughly equal to the likes of Mauritius (which 30 years ago was a far poorer place).

“The government also adopted cost-cutting measures while inflation rates increased, allowing nearly 300 per cent annual inflation to erode real public spending on wages and pensions.”<p>That’s one way to do it.

anybody who believes this hasn&#x27;t been paying attention to Spanish language sources.<p>It&#x27;s clear to everybody now the government is cooking the books trying to get another IMF loan. It&#x27;s all creative accounting hiding away the debt to importers (they are just not paying).<p>Milei brought in Caputo, the mastermind behind 2015-2019 admin that took huge loans from the market and later the IMF and defaulted in 2019. They set &gt;70% (real) interest rates that straight up killed the real economy. Every single productive industry is picking up and moving to Brazil.

Celebrates with 1 million people protesting against the budget cuts for education system. Not quite the achievement.

&quot;Celebrate&quot; is not the right word. The government stop founding oncology patients, stop sending food to community kitchens, raise the poverty level to 60% among other things. So nothing to celebrate, no merit on having budget surplus by starving your people.

&quot;These reforms include currency devaluation...&quot;<p>How does that reduce inflation and cause a surge in bond prices?

¡Afuera!<p><i>revs chainsaw</i>

And he only needed to completely destroy the country&#x27;s future to achieve it!