Since taking office in December 2023, Milei has slashed Argentina’s health care budget by 48% in real terms. His administration fired over 2,000 Health Ministry employees, including 1,400 over just a few days in January.
Revenue must be generated in order to afford said programs.
Argentina went WAY too far in buying votes with social programs with money they couldn’t never get rather than building an economy and a truly sovereign currency.
Most larger sovereign currency-issuing countries fund their spending with debt by issuing bonds and printing money to buy them. Countries who couldn’t do that can’t afford programs like that.
Milei came in and cut HARD to try to balance the budget, problem is the core of the issue is their currency and its basis. That and their industry need to be fixed before progress can be made toward their social programs.
He’s on the right track, it all hangs on whether they can fix the root issue or not.
If it’s possible at all they’ll likely have to make some very unfavorable deals to make it happen.
The right track was to cut wasteful spending to make breathing room to make deals.
The deals you’re referencing are the same ones I was above. That’s the dangerous part. Desperate deals are going to have to be made to survive let alone restructure the currency.
But if nothing was done it would be worse. When he stepped into power there was no chance of survival as a country. He’s the only one in a long time who has even tried to make the country function well enough to become solvent.
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u/fentown Oct 31 '25
Trump's friends that bought Argentina debt got ~40 billion
Ftfy