Milei

Argentina's economic crisis: whoever wins presidential election is on a collision course with the IMF

Retrieved on: 
Monday, October 2, 2023
Fantasy, Pressure, Poverty, Massa, ARS, Public, Farmer, Printing, Tax, Income tax, Anger, Element, Government, GDP, International Monetary Fund, Bolivia and the International Monetary Fund, Soybean, Milei, IMF, Cryptocurrency, Security (finance), Peronism

Argentina is heading to the polls on October 22 for a presidential election dominated by another profound economic crisis.

Key Points: 
  • Argentina is heading to the polls on October 22 for a presidential election dominated by another profound economic crisis.
  • To curb the inflation, Argentina’s central bank raised the benchmark rate of interest to a horrific 118%.
  • The country is also in recession, fuelled by a three-year drought that has done much damage to agricultural exports.
  • In contrast, Milei is a radical conservative with no political baggage and an endorsement from former Brazilian president Jair Bolsonaro.

The dollarisation debate

    • He argues this would cure inflation and stop the central bank from printing more money, which it has relied on to finance public spending.
    • Bullrich denounces this 15% figure as a fantasy, though she too wants to tackle inflation by improving the public finances.
    • Bullrich rejects Milei’s dollarisation plan as impractical, arguing the central bank would lose control over monetary policy and in any case has insufficient currency reserves to implement the plan.
    • As for Massa, he contends that Milei-style dollarisation would exacerbate inflation because it would be preceded by a very poor conversion rate from pesos to dollars that would make everything more expensive.

Tax matters

    • Another big talking point is tax.
    • Retenciones can’t make such a difference this time because they never went away, accounting for 12% of the 2022 tax take.
    • Nonetheless, Bullrich wants them reorganised into a savings scheme, with farmers able to draw from them at a future date.
    • Meanwhile, Massa recently announced a plan to remove the lowest band for income tax so that those earning less than ARS$1.7 million (£4,125) per month will pay nothing.

Morinaga Milk Expands Lactoferrin Production Capacity in German Subsidiary “MILEI GmbH”

Retrieved on: 
Wednesday, October 28, 2020
Research, Consumer, Agriculture, Food, Beverage, Natural Resources, Other Manufacturing, Fitness & Nutrition, Retail, Science, Baby, Maternity, Manufacturing, Health, Food and drink, Glycoproteins, Lactoferrin, Morinaga Milk Industry, Morinaga, Milei, O, Milk

Morinaga Milk Industry Co., Ltd. (TOKYO: 2264) (hereafter, Morinaga Milk) hereby announces that its subsidiary MILEI GmbH (hereafter, MILEI), which has the largest share* of the global market in terms of production volume of the functional ingredient lactoferrin, will increase more than double its production capacity with the aim to enhance its lactoferrin production.

Key Points: 
  • Morinaga Milk Industry Co., Ltd. (TOKYO: 2264) (hereafter, Morinaga Milk) hereby announces that its subsidiary MILEI GmbH (hereafter, MILEI), which has the largest share* of the global market in terms of production volume of the functional ingredient lactoferrin, will increase more than double its production capacity with the aim to enhance its lactoferrin production.
  • Morinaga Milk Group is aiming to increase the sales of its own lactoferrin-related products with expanding production capacity in MILEI, and will flexibly respond to the long-term increasing demand of lactoferrin.
  • Having the largest production share of lactoferrin, Morinaga Milk Group will increase the production of MILEI and contribute to the well-being of people.
  • Under the global strategy of Morinaga Milk, MILEI plays an important role supporting production and sales of ingredients for infant formula, supplements and others.