Buenos Aires/Latin Press
President Javier Milei’s fiscal adjustment is inconsistent and unsustainable because it is achieved through non-payment of debts and the withdrawal of the State from functions essential to Argentina’s survival, warned former President Cristina Fernández.
In an article published today, the former head of state analyzed the complex situation of this country nine months after the start of the La Libertad Avanza administration and insisted on the need to address the problem of a bimonetary economy.
There is a brutal fall in economic activity and Argentina is now more expensive in dollars than developed nations. This turns the inflation rate of three or four percent per month, which Milei and his ineffable Minister of Economy (Luis Caputo) want us to believe is a success, into a true social tragedy, occurring in the context of a deep recession, he commented.
He also pointed out that “this tragedy cannot be hidden: from the rapid increase in unemployment to the more than one million children who go to bed every night without a plate of food.”
He also warned of the exponential growth of drug trafficking in poor neighbourhoods in the face of the State’s withdrawal and the rapid decline in the middle class’s standard of living.
As always happens in Argentina, adjustment is followed by beatings. The images of people being beaten and tear-gassed – in this case pensioners – only confirm the violence engendered by ideologies where citizens are only a variable. Everything has become very ugly and is very bad, he said.
Fernández also recalled the impact of the “geometric indebtedness produced during the government of Mauricio Macri (2015-2019), with foreign or national investors, with surcharges and with unfulfillable maturity curves.”
In this regard, he indicated that the loan from the International Monetary Fund is being paid for too dearly and its consequences will continue to be suffered for several generations.
“Addressing the problem of the bi-currency economy and its corollary, the lack of a strong currency, is what should mobilize the forces that continue to believe in the nation,” he added.
However, “when anti-politics runs out of answers due to the failure of extravagant theories that only cause hatred and pain, we will not only have to rebuild the currency, but also politics,” he said.
Experiences must be put in order and new demands must be put in order to align thought, word and action: an indispensable trilogy when formulating a proposal and strategy that allows the organization of a political force that once again represents the majority, in order to move from being the opposition to an alternative government, he concluded.
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