Argentina gör som Carl Bildt; försvarar växekursen - det är väl inte liberalt

Javier Milei has lost the confidence of investors, who are pulling their money out of Argentina, fearful that he will scrap his defense of the peso.

The central bank has poured $678 million into the currency market in a desperate attempt to satisfy demand for hard currency and prevent the peso from cratering.

Milei vowed to defend the peso at all costs

For a man who staked his presidency on taming the runaway inflation that has long haunted Argentines, a stable peso is crucial. 

If it goes, consumer prices start to soar again, and any hope Milei had of maintaining the popular support needed to sustain his reform agenda is all but gone. 

On Friday, he vowed to defend the peso at all costs, echoing the words of his top economic aide the day before. “We will do everything we must do to protect the quality of life of Argentines.”

Bloomberg 19 September 2025

https://www.bloomberg.com/news/articles/2025-09-19/argentina-milei-defends-peso-to-last-dollar-as-devaluation-jitters-mount


Bessent and President Donald Trump will speak with Milei in New York on Tuesday  

To Help Milei’s Argentina options include, but aren’t limited to, currency swap lines, direct currency repurchases and US dollar-denominated debt from the Treasury’s exchange stabilization fund.

https://www.bloomberg.com/news/articles/2025-09-22/bessent-says-all-options-on-table-to-steady-milei-s-argentina


With Argentina devaluing its peso over the weekend, the conventional economic wisdom finally got its way.

Since 1991, the peso has been fixed to the dollar at a one-to-one rate under a currency board system.

1 Peso = 1 Dollar

https://www.nejtillemu.com/argentina.htm


IMF’s record-breaking rescue package for Argentina, with which its outgoing director Christine Lagarde was closely associated.
https://englundmacro.blogspot.com/2025/03/argentinas-former-leftwing-president.html


plus ça change, plus c'est la même chose
https://en.wiktionary.org/wiki/plus_%C3%A7a_change,_plus_c%27est_la_m%C3%AAme_chose

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