During his campaign for the presidential election in Argentina, Javier Milei promised that once elected, he would work to abolish the country’s central bank. Now that it’s done, a rumor is emerging about this financial project. Some say that this is just a campaign promise that the new tenant of Casa Rosada does not intend to honor. Javier Milei has formally denied these allegations.
The abolition of the Argentine central bank, a non-negotiable project
Javier Milei remains true to his campaign promise to close the country’s central bank. In a recent statement, shared on X (formerly Twitter), the Argentine president-elect insisted that this financial decision is a “non-negotiable issue”.
The manager intervenes thus to dissipate the “false rumors” which have circulated in recent days, calling into question the effective realization of this campaign promise. An intervention which occurs while the latter is forming his government team.
According to analysts, some of the recent appointments made in this context suggest that Javier Milei could relax his financial policy. This is the case with the appointment of the economist Osvaldo Giordano as head of the Argentine social security administration (ANSES).
This choice suggests a shift in the radical politics of Javier Milei, towards a slightly more moderate position. Just like the appointment of Horacio Marin as boss of the oil company YPF, nationalized in 2012. In any case, the implementation of this policy, dear to President Javier Milei, will not be easy.
A measure whose application is not won!
Like the dollarization of the Argentine economy, some experts believe that the abolition of the central bank is an uncertain financial option, even difficult to implement. This, in particular because of the existence of significant political challenges.
Among these, the limited presence of Javier Milei’s libertarian coalition in Congress and the absence of provincial governors. We also talk about the need for the president-elect to navigate and respond to the demands of the dominant conservative bloc.
This is an additional level of complexity which adds to the realization of the financial choice of the financial choice of the new Argentine president. Especially when we know that the public support of this bloc played a determining role in the victory during the recent second round of elections. Balancing the aspirations of the libertarian coalition with those of the conservatives requires skillful political maneuvering from the elected president. As the new leader takes office in December, his ability to translate his campaign rhetoric into an actionable financial approach will be closely monitored. Particularly by the crypto community who should realize that, contrary to appearances, Javier Milei is not the bitcoin pro he claims to be.
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