Summary
Argentina’s poor are struggling under President Javier Milei’s severe austerity measures, which include deep spending cuts, subsidy eliminations, and mass layoffs.
Poverty has surged to a 20-year high, with 53% of Argentines and 18% in extreme poverty. Communities face rising food prices, job losses, and reduced social support, while pensions and public works have been heavily slashed.
Though Milei’s policies have reduced inflation and stabilized the peso, critics argue benefits favor the wealthy.
Despite widespread hardship, Milei retains significant public support, while opposition parties remain fractured and ineffective.
A long history of military dictatorships, followed by the many flavors of Peronism, is actually how Argentina managed to downgrade themselves from developed economy, to a developing one. Which is also what created the conditions that swept the current government to power.
I’m not saying the current administration is helping the situation, just that their economic policies have continued a long standing tradition of gross economic mismanagement.
Seriously… when will people learn that letting military leaders dictate your nation is never a good idea.