After entering office in December 2023, Milei swiftly imposed his shock therapy in a bid to reverse decades of budget-busting populism that ran up Argentina’s monumental deficits.

“budget busting populism” aka Thatchers TINA nonsense. They never mention the external debt. Come on AP.

Very interesting strat regardless. They are leveraging pesos.

Across La Rioja’s capital, “Chachos accepted here” decals now appear on the windows of everything from chain supermarkets and gas stations to upscale restaurants and hair salons. The local government guarantees a 1-to-1 exchange rate with pesos, and accepts chachos for tax payments and utilities bills.

And

He appeared confident, speaking as Milei’s approval ratings dipped below 50% for the first time since the radical economist came to power.

Radical my fucking ass. He has done what most other Neoliberals did in LatAm.

“I need real money,” said Adriana Parcas, a 22-year-old street vendor who pays her suppliers in pesos, after turning down two customers in a row who asked if they could buy her perfumes with chachos.

Blame the federal government for not providing them with the money and dividing the country.