The two sides of Milei's adjustment are working fully. The cocktail of fiscal surplus, recovery of Central reserves and drastic cut in Treasury expenses laid the foundations for a strong rise in dollar bonds.
The adjustment began with a 118% rise in the dollar and a sharp jump in inflation (2.5% in December; 20.6% in January with 254.2% annually) The Capital Foundation predicts a 4.3% drop in Gross Product for the year with a significant drop in private consumption (-7.4% year-on-year)