Poverty in Argentina soars to over 50% as Milei’s austerity measures hit hard

vigras rojara said:
The liberated libertarian isn't free to attend, as it would annoy his benefactor and risk ending the great libertarian success story.

Argentina is actually sending representation though - their foreign minister IIRC. At least they have other people's money they can pay for his trip with. 😂

www.batimes.com.ar

Milei to follow in Trump’s footsteps and skip G20 in South Africa

Sources inside Argentina’s Presidential Office confirm Javier Milei does not intend to travel to South Africa for the next G20 Leaders Summit – just days after US President Donald Trump said he would not be sending a delegation.
www.batimes.com.ar www.batimes.com.ar
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Baby steps... Rome Argentina Rep of WC wasn't built in a day.. ;- )
 
BUENOS AIRES, Dec. 5 (UPI) -- Income-based poverty in Argentina fell to 36.3% of the population in the third quarter of this year, down from 45.6% in the same period in 2024, according to a report from the Social Debt Observatory at the Catholic University of Argentina.

Poverty in 2024 had climbed to the highest level recorded since the series began in 2005, while it now stands at its lowest point since 2018.


The report also shows an improvement in the extreme poverty rate, which fell to 6.8% in the third quarter from 11.2% in the same period in 2024, confirming a decline in the share of the population with income too low to meet basic food needs.

"The recent reduction in poverty is explained mainly by slowing inflation and a partial recovery in income, while the drop in extreme poverty is strongly linked to the impact of cash-transfer social programs. Without these policies, the extreme poverty rate would nearly double, even under current conditions," the report said.



https://www.upi.com/Top_News/World-News/2025/12/05/latam-argentina-poverty-decrease/8061764961010/
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Oh.

So basically, you have a small welfare state that can cover the basics of extreme poverty, like food and you don't print money and run large deficits.
 
Vox Populi Vox Dei said:
Another great one-liner.

https://twitter.com/x/status/2028915520053932160
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His appreciation for free markets and his ability to dismantle commonly-held economic fallacies peddled by Socialist economics professors, is undoubtedly a very bright light.

But it's ominous that he presided over the judicial system that prosecuted someone for calling the Israeli govt genocidal.

I think he may still be caught up in partisan politics. and his foreign policy is way out of whack with Rothbardian-Hoppean Ancapism... putting him at odds with what made America great in the first place.
 
ponder said:
Did they not repay the US for the currency swap deal a few months later?
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I think they did, and they didn't use all of it either.

Though I did see hints that there was other assistance provided financially outside of that currency swap deal.
 
ponder said:
Did they not repay the US for the currency swap deal a few months later?
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Yes, like good capitalists we don't beg for write-off for money owed. It wasn't a bailout as much as the anti-Milei crowd want us to believe.


Earlier this month, Argentina repaid the $2.5 billion it had taken from the package, with interest and ahead of schedule. The swap line worked exactly as Treasury Secretary Scott Bessent had intended: as a short-term bridge to support an ally during acute market stress. This was never going to be a bailout.
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Ok, good for Milei, then.

Let's hope he can do without other people's money for the foreseeable future.
 
vigras rojara said:
Ok, good for Milei, then.

Let's hope he can do without other people's money for the foreseeable future.
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That is exactly what he is doing, and that is why their economy is recovering and starting to grow.

Investing.com -- Argentina recorded a fiscal surplus of 1.41 trillion pesos ($1.01 billion) in February, Economy Minister Luis Caputo announced on X on Monday.

The February surplus follows a similar positive fiscal result in January, marking two consecutive months of surplus for the Latin American nation.

Caputo stated that a tax amnesty law and labor reform are expected to contribute to increased formalization of Argentina’s economy. According to the minister, these measures should enable continued tax reductions going forward.
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https://za.investing.com/news/econo...llion-fiscal-surplus-in-february-93CH-4166716

Paying off the debt is doing without other people's money, namely the people in the future's money. All the cushy welfare policies in Europe and America is funded by stealing future economic growth.

1775652900098.png

He has already halved the Government debt to GDP from its max.

And I might add, Argentina did this whilst still doing targeted poverty reduction measures for the people who really are at the bottom.

Caputo noted that “primary spending in 2025 was 27% lower than in 2023 in real terms,” but said this had been done “while protecting spending on social programs without intermediaries aimed at the most vulnerable sectors.” He detailed that “social spending on the Universal Child Allowance (AUH) and the Food Card rose 43% in real terms when comparing December 2025 with December 2023, covering 92% of the basic food basket, compared with 55% in December 2023.”

In that regard, the economy minister said that “the fiscal surplus was achieved after a tax reduction that has already exceeded 2.5% of GDP since 2024, including the elimination of the PAIS tax, the reduction or elimination of export and import duties on numerous tariff lines, cuts to internal taxes, and the elimination of the real estate transfer tax.”

He also noted that “in December 2025 there was a further reduction in export duties — two percentage points for the soy, wheat, and barley complexes, and one percentage point for corn, sorghum, and sunflower.”
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Government debt is fine when it is used for things that generate actual economic value, like energy and water infrastructure. Roads, rail and ports are a maybe IMO. Debt servicing costs shouldn't go above 20% for that.

Everything else, should rather be funded within budget with taxes. Funding your nice social programs from debt is just burning the furniture. It is why growth in Europe is basically dead.
 
In a context of severe budget cuts to science and technology, the appointment of Ezequiel Acuña as Deputy Manager of Corporate Social Responsibility at Nucleoeléctrica Argentina SA (NA-SA) has sparked a wave of criticism. The 23-year-old, known on social media for his pro-government activism, will receive a salary exceeding $13 million pesos per month

Ezequiel Acuña, identified on the X platform as @elpasante , lacks technical training in the nuclear sector. His career can be summarized in the following points:

  • Education: Completed secondary education (2020). Law student at UADE after dropping out of Political Science.
  • Media activity: Co-founder of La Derecha Diario and founder of Madero Group .
  • State background: Advisor in the Chamber of Deputies (LLA bloc) and network manager at Radio and Television Argentina (RTA), where he received contracts of $10.5 million in a context of mass layoffs in public media.

www.noticiasradioreflejos.com.ar

Polémica en el Sector Nuclear: Nombran a tuitero de 23 años con sueldo millonario en Nucleoeléctrica Argentina - Noticias Radio Reflejos

En un contexto de fuerte ajuste presupuestario sobre la ciencia y la tecnología, la designación de Ezequiel Acuña como Subgerente de Responsabilidad Social Empresaria en Nucleoeléctrica Argentina S.A. (NA-SA) ha desatado una ola de críticas. El joven de 23 años, conocido en redes sociales por su...
www.noticiasradioreflejos.com.ar
 
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