Laura Velásquez, a 19-year-old from Buenos Aires, has found a way to supplement her income by selling t-shirts and dresses at affordable prices. She works at a fast food restaurant, an activity affected by the inflation spike triggered by Milei's decision to let the Argentine peso fall. Cuts to social programs and subsidies worsened Velásquez's family's financial situation.
After many years of constant price increases, calm seems to have returned to commerce in Buenos Aires. Velásquez, who voted for Milei in 2023, acknowledges that the situation feels more peaceful. Despite having differences with some government measures, Velásquez highlights the economic stability and normalcy in current commerce.
In an interview at the World Economic Forum in Davos, Javier Milei mentioned the possibility of leaving Mercosur to establish a free trade agreement with the United States. Although the Argentine president assured that he prefers to explore other alternatives before taking such drastic measures, he left open the possibility of abandoning the South American customs union if necessary.
Milei's return to Davos has been well received, with optimism regarding the results of his economic measures. Inflation has significantly decreased, the government recorded an annual budget surplus, and the economy has begun to recover from the recession. Financial institutions like BlueBay Asset Management have praised Milei's management, highlighting his focus on budgetary balance and the rebound of Argentine bonds by over 100%.
Graham Stock, senior emerging markets strategist at BlueBay Asset Management, supports Milei's diagnosis of Argentina's economic problems and is impressed by the stability achieved under his presidency. Stock, who a year ago viewed Milei's proposals with skepticism, now states that he would vote for him enthusiastically, acknowledging the positive results obtained during his term.
