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.
For some context, during the last 4 years the quantity of money our governemnt needed to print* was so high that our printers weren’t enough and we had to pay other countries to print more pesos.
Usually in modern language “printing money” is simply the central bank moving a numbers on a spreadsheet, not necessarily creating new currency notes. This is especially true if the newly “printing money” is being used to repay foreign debts.
Are you saying Argentina is actually running out of currency? If so, where is it all going?
The goverment spends more than it can, so to pay it’s debts, the goverment print more and more money. This makes each bill to have less and less value generating inflation. So everyone needs more currency to pay for the same things, so the goverment prints even more money and the cicle never ends.
Usually in modern language “printing money” is simply the central bank moving a numbers on a spreadsheet, not necessarily creating new currency notes. This is especially true if the newly “printing money” is being used to repay foreign debts.
Are you saying Argentina is actually running out of currency? If so, where is it all going?
The goverment spends more than it can, so to pay it’s debts, the goverment print more and more money. This makes each bill to have less and less value generating inflation. So everyone needs more currency to pay for the same things, so the goverment prints even more money and the cicle never ends.