Peronist

In a last frantic move, the Peronist government again turned to a stringent stabilization plan (i.e. another 100 per cent peso devaluation, 90 per cent increases in publicly-controlled prices, coupled with a meagre 20 per cent increase in nominal wages). [...] Some idea of this incredibly rapid 'Weimarization' of Argentine politics can be gleaned from an extrapolation of the first quarter's inflation to a 3,000 per cent annual rate. Using the March figure, the same calculation yields a fantastic 17,000 per cent annual rate.

In suburban Buenos Aires, Milei’s Peronist rival, the finance minister, Sergio Massa, asked factory workers for support despite the slump his government has overseen, with 40% of Argentina’s 47 million citizens living in poverty amid triple-digit inflation.