Argentina's Minister of Economy, Luis Caputo, highlighted that the economic program—based on a fiscal surplus—along with the 'strict control' of the money supply and the capitalization of the Central Bank (BCRA) 'will remain the pillars' to 'continue the disinflation process.' 'It is increasingly evident that this is the only viable path to definitively eradicate inflation and make Argentina great again,' concluded the official. According to data released by the National Institute of Statistics and Census (INDEC), December inflation was 2.8%, and the year ended with 31.5%, marking the lowest level in eight years (24.8% in December 2017). Caputo celebrated the inflation data and explained the 'pillars' of the libertarian administration and the reasons for the slowdown in inflation. 'An extraordinary achievement, considering it was obtained in a context of relative price adjustment, the implementation of a floating exchange rate, and a sharp contraction in money demand, resulting from the fierce political attack that led to a dollarization close to 50% of M2.'
