this post was submitted on 04 Mar 2024
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I'm not sure if Milei has been in power for long enough to have any sort of meaningful impact.
I don't expect him to have a positive impact, mind. But it always takes a bit of time before things change.
The former government contributed a lot to this, specially in the last year. Poverty has been steadily on the rise since 2003. I cant (imo) blame Milei for this, but I can't deny that if anything Milei has accelerated the impact of Kirchners' missmanagement.
Another things to keep in mind, the Kirchners were famous for lying about inflation and poverty indices and this government is consequently "taking pride" in transparency. Milei is also using this numbers to show how bad the economy is... so numbers could be biased or exaggerated.
Poverty here is generally measured by household income, which means that inflation leaves a lot of people under the poverty line, which may or not be momentary cause we get constant salary increases... always under inflation, of course.
The thing is really bad, and people is living out of savings. A sign of that is that we can buy US$ by 1400 pesos in a bank, but people is selling so many dollars in the black market to pay bills that we can buy them for 1000 pesos on the streets.
If all this mess will pay out in the long term, I cant tell, but appealing to our erratic history, I would say that it won't.
Every 10 years, Argentina has a crisis that lasts 10 years.