Argentina's economic armageddon: Milei's scorched-earth war on inflation

Milei has rolled the dice on a financial gamble of epic proportions

CNN Central News & Network–ITDC India Epress/ITDC News Bhopal: The gates of economic hell have opened wide in Argentina, with annual inflation engulfing the nation at an apocalyptic 254.2% as of January 2024. This staggering figure represents the culmination of decades of fiscal mismanagement and monetary debauchery that have ravaged the South American country.

Amidst this smouldering financial wasteland, a new gunslinger has ridden into town— President Javier Milei, a self-professed anarcho-capitalist gunning to be the inflation undertaker.

Armed with a libertarian ideology and a shock-and-awe economic doctrine, Milei has declared total war against the scourge of runaway prices. But his scorched-earth campaign risks leaving a trail of devastation that could haunt Argentina for years to come.

Milei's meteoric rise to power in November 2023 was fueled by a tidal wave of public frustration over the country's chronic inflation crises. His radical free-market platform and uncompromising rhetoric resonated with millions of Argentines desperate for respite from the economic carnage.