- Javier Milei’s policies include deep fiscal adjustments, rigorous control over reserves, and a plan for “zero issuance.”
- Vitalik Buterin supports Milei’s economic freedom proposal, criticizing the role of states in printing money and regulating economies.
Vitalik Buterin, recently shared his views on Argentina’s economic situation, drawing attention to the stabilization of the Argentine peso (ARS) against the US dollar.
In a tweet, Buterin highlighted the fact that the ARS/USD exchange rate has remained consistent over the past year, marking what he described as “An impressive shift for a currency that seemed on a path to unstoppable hyperinflation.“
ARS/USD is at exactly the same level as it was one year ago.
Quite an impressive turnaround for a currency that was previously on a seemingly unstoppable road to hyperinflation.
Inflation rates have also been decreasing quickly in recent months. pic.twitter.com/HaGUrWDCJm
— vitalik.eth (@VitalikButerin) December 12, 2024
His statement references the November inflation rate of 2.4%, which aligns with a broader trend of declining consumer prices in Argentina, according to data from the National Institute of Statistics and Censuses (INDEC).
This outcome supports the policies of President Javier Milei, whose government has focused on fiscal adjustments and tighter control over international reserves. Milei has also announced plans to introduce a free competition of currencies in 2025.
Buterin shared a graph on social media showing the stabilization of the Argentine peso and the decline in inflation throughout 2024.
His comments come amid ongoing discussions about the effectiveness of the economic policies implemented under Milei’s leadership, including a deep fiscal adjustment and the “zero issuance” plan, aimed at curbing inflation and boosting economic stability.
This isn’t the first time Buterin has addressed Argentina’s economy. Since his first visit in 2021, he has returned several times, engaging with local tech communities, including discussions on Milei’s economic strategies.
In a meeting at the end of 2023, Buterin praised the new administration’s focus on economic issues, contrasting it with the approach in the United States, where he believes economic concerns have been sidelined in political discussions.
“It’s a far cry from what’s happening in the U.S., where it feels like politics would have forgotten about the economy and what matters to people,” he added, questioning Joe Biden’s administration.
Buterin’s support for greater economic freedom aligns with Milei’s stance, which advocates for reduced government control over economic processes and the promotion of more market-driven policies.
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