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Argentina's Milei Balances Economic Gains with Rising Poverty

President Javier Milei's radical reforms have reduced inflation but increased poverty, drawing mixed reactions domestically and abroad.

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Argentina’s President Javier Milei walks, on the day of the opening ceremony of the Summit on Peace in Ukraine at the Buergenstock Resort in Stansstad near Lucerne, Switzerland, June 15, 2024. REUTERS/Denis Balibouse/Pool/ File Photo
Madrid leader Isabel Diaz Ayuso on campaign trail at European Parliament elections

Overview

  • Inflation has dropped significantly, but poverty rates have soared from 45% to 57%.
  • Milei's austerity measures led to budget surpluses but hurt ordinary citizens.
  • His diplomatic tour in Europe saw both accolades and snubs from leaders.
  • Milei's confrontational style has strained Argentina's relations with Spain and other countries.
  • A new reform package aims to attract investment and stabilize the economy.