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Javier Milei, Argentina’s President-elect, has stated that the closure of the country’s central bank is an essential and non-negotiable aspect of his administration’s agenda.

Addressing recent speculations, Milei said it was a “non-negotiable matter” to shut down the country’s central bank. Milei is preparing to assume office and has been assembling his Cabinet. Some of his appointments suggest he may lean towards more moderate choices than initially anticipated.

One appointment, Osvaldo Giordano, an economist from the central Cordoba region, will head Argentina’s Social Security Administration ANSES, which is a shift from his earlier plan of selecting a close associate for the role. This appointment is particularly significant, considering Milei’s commitment to reducing state expenditure and subsidies.

This comes as the President-elect faces considerable challenges for his ambitious reform plans, which include dollarizing the economy, dismantling the central bank, and privatizing state enterprises like YPF.