While the dollar soars, the Argentine president sings at the launch of his book in Buenos Aires

In Argentina, the price of dollar blue, or “parallel”, reached a new record on Wednesday (22), an increase of 23% in the month of May alone. But, instead of causing inflationary fears in the government, the rise in the currency does not worry the Milei government, according to members of the administration. He himself took to a stage this Wednesday to sing at the launch of his book.

“Dear, I wanted to do this because I wanted to sing”, he said before presenting his version of Panic show The Argentine rock trio La Renga is at Luna Park in Buenos Aires.

Then, the economist president gave a long Economics class based on his 13th book Capitalism, socialism and the neoclassical trap (Capitalism, socialism and the neoclassical trap).

He criticized socialism, defended monopolies, denied the existence of market failures and said that abortion corresponds to a “mechanism to massacre populations”.

During the event, most of the almost 10 thousand spectators left, until half the space was empty. The Milei administration said that the costs were all covered privately by the president.

The event had a similar identity to those that Milei has held since his start in politics in 2021: he calls them “shows” and usually opens by singing, evoking his youth, when he led a cover band of The Rolling Stones.

URGENT l Libertarian President Javier Milei is destroying lefties. Indeed, it is cinema . In the middle of the concert at Luna Park she sings her version of PANIC SHOW. pic.twitter.com/MVcM13c3lq

— National Reaction (@RNacional_News) May 23, 2024

On the day of the book’s launch, the parallel dollar reached a new nominal record of 1,280 pesos in a collapsed economy, with half the population in poverty and prices 290% higher than last year.

But Milei’s spokesman, Manuel Adorni, said that the rise in the dollar is not a concern and should not be an inflationary factor.

“There is no reason for this to have any implications on prices beyond the inflationary process that we are experiencing due to the imbalances that have occurred in monetary and fiscal issues in Argentina,” he said.

On Tuesday (21), Milei reaffirmed his campaign promise to dollarize the Argentine economy. He said that, after paying its debts in pesos and reformulating the financial system, the Central Bank would stop issuing currency, which would be gradually replaced by the dollar.