Argentina’s economy exits recession in milestone for Javier Milei

In a year in power, the far-right president imposed a brutal policy of austerity. While he prides himself on having raised the country's budget bar, the middle and disadvantaged classes have plunged into precariousness.

Argentina’s recession ends as Trump and Musk applaud Milei’s budget slashing spree

Sideburn success… Argentina officially exited its recession, with new data showing the country grew its quarterly GDP for the first time in nearly a year. President Javier Milei has been on a budget slashing...

Big milestone for Argentina’s radical president: Argentina escapes recession

A year ago, Argentina’s eccentric, wolverine-haired, “anarcho-libertarian” president Javier MIlei took office with a chainsaw and a plan: to tackle the country’s triple-digit inflation and chronic debt problems, he would hack government spending to pieces — and it seems to be working. Latin America’s third largest economy has emerged from recession for the first time since the third quarter of 2023, with GDP growing nearly 4% since then. Month-…

Argentina Is Responding to Shock Therapy

Milei in Rome on December 14, 2024. (Photo by Simona Granati via Getty Images.)Sometimes, a man meets the moment.It may not be the man you want; it may not be the moment you’d hoped for. The man might be a bit of a lunatic, and the moment may be an out-and-out shit-show. Still, sometimes, man and moment come together, and then history happens.When Javier Milei was sworn-in as Argentinian president a year ago, the smart money was on a spectacular…

The National Institute of Statistics and Censuses noted that Argentina's Gross Domestic Product (GDP) accelerated by 3.9% in the third quarter of the year compared to the three months immediately preceding.

Spain central bank raises 2024 growth forecast despite floods

Spain's central bank raised its 2024 growth forecast by 0.3 percentage points on Tuesday despite the impact of the devastating October 29 floods, the country's worst such disaster in decades. The Bank of Spain predicted in a report that gross domestic product in the European Union's fourth-largest economy would grow by 3.1 percent this year,