Milei, speaking in an interview with local news broadcaster TN, said he would look to stop the monetary authority from printing more bills in a bid to rein in inflation, which currently tops 200% annually.
The libertarian president, who took office in December with a promise of controlling the economy in a country facing spiraling poverty, said the International Monetary Fund (IMF) supports his policies.
“The fund is very satisfied with what we’re doing,” Milei said following a meeting earlier in the day with Gita Gopinath, the fund’s first deputy managing director.
Gopinath said in a statement that the Milei administration’s “initial actions are starting to bear fruit, although the path ahead remains challenging.”
The IMF recognized Argentina’s efforts to establish a strong fiscal anchor. In December, Argentina devalued the local peso currency by more than 50% against the U.S. dollar.
“Consistent and well-communicated monetary and (foreign-exchange) policy will be necessary to continue to bring down inflation durably, rebuild reserves, and strengthen credibility,” Gopinath said.
Source: Economy - investing.com
