Is Milei’s economic gamble paying off?

Business Daily

BBC

News, Business

4.4 • 796 Ratings

🗓️ 10 March 2025

⏱️ 21 minutes

🔗️ Recording | iTunes | RSS

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Summary

An hour’s drive north of Buenos Aires is Pilar, a municipality that houses the largest industrial park in Argentina, as well as a population of 400,000.

Some rich and middle class Argentines live in its many gated communities, but Pilar has a poverty rate of almost 60% - well above the national figure.

We speak to residents and businesses about libertarian President Javier Milei's first year in office.

If you would like to get in touch with the show, please email: [email protected]

Presented and produced by Natalio Cosoy

(Picture: Argentina's President Javier Milei looks on during the inauguration of the 143rd ordinary session of Congress at the National Congress in Buenos Aires on March 1, 2025. Credit: Getty Images)

Transcript

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0:00.0	Hello and welcome to Business Daily from the BBC World Service. I'm Natalio Kosoi and today we are in
0:07.3	Argentina looking at the economic impact of Javier Milay's first year as president.
0:13.2	In this speech in December last year, marking the first anniversary of his government,
0:23.1	Javier Milley said that the sacrifice Argentines had to go through due to his policies of economic shock
0:29.9	would not be in vain.
0:34.4	It's terrible, really awful.
0:36.9	People are forced to choose. Which medication should I take? Which one is key to keeping me alive?
0:42.8	We have the feeling in the market that things, our volumes, are recovering.
0:52.5	To be honest, I'm an older person, and from what I've seen over the years, looking back at previous governments, I don't think things are going to improve or get better.
1:01.2	The country is divided on how Javier Milet's government has fared so far.
1:06.6	Is his stabilization of the economy an unquestionable success, or is its cost far too high?
1:14.2	Is the burden of the shock evenly distributed or mainly shouldered by the most vulnerable?
1:20.0	That's all coming up on this edition of Business Daily from the BBC World Service.
1:28.3	Today we have superabby fiscal sottened, liberty of default. Bailey from the BBC World Service. The stringent fiscal policy Javier Milay is implementing in Argentina is closely followed around the world.
1:39.7	He features on the cover of The Economist and New Yorker magazines, and he's been praised by U.S. President Donald Trump.
1:47.2	Javier, I'd like to congratulate you on the job you've done.
1:50.6	The job you've done is incredible.
1:52.4	Make Argentina great again, you know, MAGA.
1:54.6	He's a MAGA person.
1:56.4	Some economic figures here are indeed looking good.
1:59.8	Inflation, the country's main foe for years,
2:02.9	has consistently slowed down to less than 3% per month since he took power in December
	...

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