President Javier Milei, who has been in office for just over a month, is looking to employ tough austerity measures to bring down inflation, reduce a deep fiscal deficit and rebuild government coffers.
Sadly, as economies crash, it takes years, if not decades to repair the damage. Quick fixes or radical changes often just make the problem worse.
It’s one of the reasons why Greece is starting to improve after so long in the shit. Their workforce switched to other, stable industries, and due to a mixture of COVID and the global economy dropping, they found themselves finding some semblance of normality.
All economies are different, but Argentina will need to strip away the bullshit, and focus on building something that’ll last, with the resources they have. Sadly (and probably rightly so), telling people that the formative years of their lives will be full of unemployment, crushing debt, and no savings to take them into retirement while their kids may have a better outcome isn’t a vote winner
and even if it was, the next election could undo absolutely everything.
Sadly, as economies crash, it takes years, if not decades to repair the damage. Quick fixes or radical changes often just make the problem worse.
It’s one of the reasons why Greece is starting to improve after so long in the shit. Their workforce switched to other, stable industries, and due to a mixture of COVID and the global economy dropping, they found themselves finding some semblance of normality.
All economies are different, but Argentina will need to strip away the bullshit, and focus on building something that’ll last, with the resources they have. Sadly (and probably rightly so), telling people that the formative years of their lives will be full of unemployment, crushing debt, and no savings to take them into retirement while their kids may have a better outcome isn’t a vote winner