Argentina’s Milei says shutting central bank ‘non-negotiable’


Argentine president-elect Javier Milei addresses supporters after winning Argentina’s runoff presidential election, in Buenos Aires, Argentina November 19, 2023. REUTERS/Agustin Marcarian Acquire Licensing Rights

BUENOS AIRES, Nov 24 (Reuters) – Argentina’s President-elect Javier Milei said on Friday that the closure of the country’s central bank, a signature campaign pledge, was a “non-negotiable matter”, according to a statement from his office posted on social media platform X.

The comments, in response to what he called “false rumors”, come as the outsider libertarian economist races to put together his team ahead of taking office on Dec. 10, with some signs that he is picking a more moderate Cabinet that expected.

Argentina’s social security administration ANSES, a key institution given Milei’s pledge to slash state spending and subsidies, will be lead by economist Osvaldo Giordano from the key central Cordoba region, the statement added.

That marks a shift from a previous plan that Milei would appoint a close ally to lead the administration.

Horacio Marin, a private energy sector executive, was also confirmed as the incoming chief of state oil company YPF.

Milei faces major hurdles to implement his more radical reform plans, which include dollarizing the economy, shutting the central bank and privatizing state companies like YPF, which will take time if they can be done at all.

His libertarian coalition has a limited number of seats in Congress and no provincial governors. Milei also has to juggle demands from the more mainstream conservative bloc, whose public backing was key to him winning the run-off election last week.

Reporting by Gabriel Araujo and Adam Jourdan

Our Standards: The Thomson Reuters Trust Principles.

Acquire Licensing Rights, opens new tab



This article was originally published by a www.reuters.com . Read the Original article here. .