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Argentina’s President Milani Gambles on “Shock Therapy”: Can It Cure Hyperinflation and Debt Woes?
On the 10th of December, 2023, Argentina’s elected President Javier Milay was inaugurated, formally commencing his four-year presidential tenure. Preceding this election, Milley and the policies he espoused had ignited a furor in Argentina and garnered attention on the international stage. Upon assuming office, Milley advocated for the implementation of a series of deregulatory measures akin to “shock therapy” aimed at navigating Argentina through the economic crisis. Thus, the question arises: Can Milay’s strategy of “shock therapy” prove efficacious? What is “shock therapy”? “Shock therapy” primarily denotes the adoption of radical methodologies to effectuate the transition from a planned economy to a market-driven one. Owing to its potentially seismic impact,…