#Argentina's annual inflation is currently over 140% and is expected to reach 200% by early next year. That is up from 54% when Alberto Fernández, the outgoing Peronist president, took office in 2019. Four in ten Argentines live in poverty. In the weeks ahead of the election Sergio Massa, the economy minister and Mr Milei’s opponent, ramped up a populist splurge in handouts, equivalent to around 1% of gdp.
The country is dead broke. Public debt to gdp is 90%; and the fiscal deficit, when measured properly to include central-bank money printing, is about 10% of gdp. Its dollar bonds trade at less than 33% of their par value.
From: