In a statement posted by his office to the social media platform X, formerly known as Twitter, Argentina’s incoming President Javier Milei affirmed his prior promises, pledging specifically to shut down the nation’s central bank.

The promise to shut down the nation’s central bank was one of Milei’s signature campaign promises, alongside a promise to impose “shock therapy” to the economy in an effort to strengthen the nation’s collapsing finances. As part of the shock therapy, he has said he would dollarize the economy, and privatize state-owned media outlets and other public companies, including state-owned energy company YPF.

His office issued the statement affirming his promise in response to what he referred to as “false rumors,” which began to spread, saying that he was moderating his previous positions. Some even claimed that he was preparing to form a more moderate cabinet than observers had expected, now that his election had been secured.

After stepping into office on December 10th, Milei has predicted that it will require “between 18 and 24 months” before his policies will begin to decrease the nation’s soaring inflation rate, which is presently near 150%.

Although popular with a nation which has seen hopes of an economic recovery dwindle, some economists have said Milei’s proposed policies of economic “shock therapy sets Argentina on a path of deep uncertainty.” Other experts have said that given the nation’s depleted international reserves, attempting to dollarize the economy could trigger another bout of hyperinflation for the South American nation. Others however, say Argentines already are using dollars in many local transactions, and many have substantial quantities of dollars stored overseas, which could be brought home if the right conditions arise.