Newly elected Argentine President Javier Milei has reaffirmed his commitment to closing down the country’s central bank, dismissing rumors that he may backtrack on this promise. In a statement posted on Twitter, the Office of President Milei clarified that the closure of the Central Bank of the Republic of Argentina (BCRA) is non-negotiable. Milei has been a vocal critic of central banks, labeling them as a “scam” and a means for politicians to impose an “inflationary tax” on the public. He has pledged to eliminate the BCRA and replace the Argentine peso with the US dollar. Additionally, Milei has expressed strong support for Bitcoin, viewing it as a way to restore control of money to the private sector. He contrasts Bitcoin’s limited supply with the inflationary tendencies of government-issued fiat currencies. Following Milei’s surprising presidential victory, Bitcoin prices in Argentina soared to record highs as investors embraced his anti-central bank and pro-crypto stance. Argentina has been grappling with high inflation for years, which has placed significant strain on the government and the economy. In September 2023, the country’s annual inflation rate reached 124.4%.

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Information	Details
Geography	South America
Countries	🇦🇷
Sentiment	positive
Relevance Score	1
People	Javier Milei
Companies	Central Bank of the Republic of Argentina (BCRA)
Currencies	Bitcoin, argentine peso, US Dollar
Securities	None