Argentina's new president, Javier Milei, has introduced economic reforms that have sparked widespread protests due to drastic public spending cuts.

Milei's economic policies include cutting public spending and restoring individual freedom to reduce debt.

The president's economic reforms, including replacing the peso with the US dollar, have sparked protests from Argentinians.

Milei plans to slash spending and abolish central banks as part of his economic policies.

Argentina has one of the world's highest inflation rates, and Milei's economic policies are considered radical by Goldman Sachs.

Milei won the Argentine general election on 19th November 2023, with policies including 15% cuts to public spending, privatization, and reduced fuel subsidies.

He aims to abolish the central bank, adopt the US dollar, and address Argentina's 150% inflation rate and 40% poverty rate through economic reforms.

Milei launched 300 economic reforms in Argentina, including privatization and a 54% peso devaluation to 800 per US dollar.

The president promised to cut government departments and dollarize the economy to reduce bureaucracy and combat inflation.

Milei's economic plans include solving the debt crisis and dollarizing the economy to combat inflation, which would require Congressional approval and constitutional change.

Milei's economic policy, based on radical free-market liberalism, aims to spur growth and reduce poverty, while criticizing socialist governments for causing economic chaos.

The president's government has introduced a decree to repeal over 300 laws and an omnibus bill granting the government 1,000 extraordinary powers.

Milei's plan has raised concerns about the democratic process and has significant implications for Argentina's governance, society, economy, politics, and institutions.

Milei's policies, including privatization of health and environment sectors, may lead to mass scientist emigration and have significant social and environmental implications.

Argentina's new president, Javier Milei, has introduced economic reforms that have sparked widespread protests due to drastic public spending cuts.

Title:

Content: Streets of Argentina Ablaze with Dissent as Milei’s Controversial Reforms Ignite Outrage

In a stunning turn of events, Argentina has become a battleground for public discontent following President Javier Milei’s introduction of a series of controversial proposals. Thousands of Argentinians have taken to the streets, enraged by the president’s push for drastic cuts to public spending.

Milei’s latest measures, unveiled on Wednesday evening, aim to revolutionize Argentina’s struggling economy through a variety of initiatives. These include deregulating the government and opening up state-run industries for privatization in order to spur both exports and investment.

However, the people’s outrage has manifested in widespread protests, often met with a heavy police presence. Gathering in front of the Argentine Congress, hundreds of demonstrators made their opposition to Milei’s proposals known.

Undeterred by the dissent, Milei appeared on national television to defend his agenda and offer reassurances of a prosperous future. He asserted, “Our objective is to rebuild our nation, restore individual freedom and autonomy, and dismantle the myriad of regulations that have impeded our economic growth for far too long.”

Acknowledging the mounting protests, Milei’s security minister, Patricia Bullrich, announced new measures aimed at maintaining public order. These measures grant federal forces the power to disperse protesters blocking streets without requiring a judicial order, and authorize the police to use video or digital evidence to identify and hold accountable those obstructing public thoroughfares. Moreover, the legislation empowers the state to apportion the costs of mobilizing security forces to the protesters themselves.

Milei’s presidential victory was built upon a campaign centered around reducing public spending. Since assuming office, he has already made significant changes to the country’s financial landscape. The value of the Argentinian currency has been adjusted, contracts of public employees with less than one year of service have been terminated, and the prices of basic services and public transportation have seen notable increases.

FAQ:

Q: What are President Milei’s proposals?

A: President Milei’s proposals include deregulating the government and allowing the privatization of state-run industries to boost exports and investment.

Q: Why are Argentinians protesting?

A: Thousands of Argentinians are protesting against Milei’s proposals due to their belief that the drastic cuts to public spending will adversely impact their lives.

Q: How is the government responding to the protests?

A: In response to the protests, the government has announced new measures to maintain public order, empowering federal forces to disperse protesters without a judicial order and enabling the identification of those obstructing public thoroughfares through video or digital means.

Q: What changes has Milei already implemented?

A: Since taking office, Milei has adjusted the value of the Argentinian currency, terminated contracts of public employees with less than one year of service, and increased the prices of basic services and public transportation.

(Sources: Information gathered from local news outlets)

Milei's economic policies include cutting public spending and restoring individual freedom to reduce debt.

What issue did Milei want to address without printing money?

The president's economic reforms, including replacing the peso with the US dollar, have sparked protests from Argentinians.

Title:

Content: Argentina's far-right presidential candidate leads the presidential primary by 18%, and the country will turn to the right?
Author: External Submission
Published: Updated:
On August 13, local time, preliminary statistics for the presidential election in Argentina in October this year (90% of the vote rate) show that the far-right liberal economist and presidential candidate Javier Milei, who is known as the “Argentine version of Trump, ” ranked first with a 30.5%“ unexpected ” vote rate, far higher than the expected value of about 20%.
According to the report, the preliminary election results are seen as the vane of the general election, and Millet's lead shows that the long-term economic crisis has caused voters to lose confidence in the centre-left party, and Argentina is likely to "turn to the right" in the future.
This article is authorized by the Observer Network to reprint; Author: Liu Chenghui
(Editor ’ s note: The Argentine peso exchange rate plummeted by 17.9% to 350.05 pesos per dollar after Mirai ’ s “run out ” in the primary election.)
According to Reuters, France 24 TV reported that after Milai, Patricia Bullrich, the presidential candidate of Argentina ’ s main opposition coalition, the Alliance for Change, and former national security minister, came second with 28% of the vote, while Sergio Massa, the presidential candidate of the ruling coalition, received 27% of the vote.
In a speech after the election, Millet said, "We are the real opposition" and "the old things that have failed cannot bring about a different Argentina."
“Mirai ’ s (approval ratings) growth is surprising, ” said Mauricio Macri, a conservative former president of Argentina.“ It shows the discontent of the people in politics, ” said Marco Polo, 58, a businessman who said Argentina needs a path to the future, but no party has yet pointed it out.
Javier Milei, a far-right liberal economist and presidential candidate known as “the Argentine version of Trump, ” idolizes former U.S. President Donald Trump.
Trump speaks at the Bedminster Golf Club on June 13, 2023. (Reuters)
Millet is a "cult" of former US President Donald Trump and former Brazilian President Bolsonaro, who have called climate change a "lie" and have made clear his desire to abolish central banks, ban abortions, liberalize arms sales and even trade in human organs.
In a report before the primary vote, Goldman Sachs said that Mr. Millet supported “more radical ” economic policies, including replacing the peso with the U.S. dollar and slashing spending, but that since he had not built a mature“ political machine, ” which usually refers to political organizations and institutional arrangements at its core, this would create some uncertainty in local markets and could undermine confidence.
Millet still faces tough competition in the coming months, which will test his ability to win more voters.
In February 2023, Argentina ’ s inflation rate exceeded 100% for the first time since 1991.
(Reuters)
In recent years, Argentina has continued to face inflation and recession.
Argentina already has one of the highest inflation rates in the world, with annual inflation approaching 116%, Reuters said on the 11th.
Inflation in Argentina peaked at 8.4% in April so far this year, and although the data fell later, analysts believe it is likely to pick up to 7.1% in July.
Some experts predict that Argentina's gross domestic product will shrink by 3.1% this year, will shrink by 0.2% in 2024, and is expected to grow by 2.5% in 2025.
The Associated Press (AP) said that in order to maintain the economy, Argentina can only speed up the printing of money, leading to a vicious cycle of inflation.
Data show that Argentina ’ s recent foreign exchange reserves have been less than US $32 billion, and its foreign debt scale reached US $276.7 billion at the end of 2022.
On July 28, the International Monetary Fund (IMF) and the Argentine government reached a new agreement: the IMF technical team agreed to launch the fifth and sixth rounds of assessment of the Argentine economic situation, and if the results of the assessment are approved, Argentina will receive a total of about $7.5 billion of debt refinancing loans from the IMF in August and November this year to pay off old debts and stabilize the country ’ s financial market.
According to a Reuters analysis of the results, it is the long-term economic crisis that has disappointed many Argentinian voters with mainstream political parties. Juan Negri, a professor of political science at Torquato Dietra University, believes that Millet ’ s lead “reflects the disappointment of many voters in the lack of trust in the party. ” This may be the best option:“ You have to break what you have, and then regroup the pieces and start over. ”

Milei plans to slash spending and abolish central banks as part of his economic policies.

closing the central bank
criticism of government spending

Argentina has one of the world's highest inflation rates, and Milei's economic policies are considered radical by Goldman Sachs.

As of 2024, what are the statistics regarding poverty?

annual inflation rate of 211% is highest in 32 years

What economic issue did Milei want to address?

Milei won the Argentine general election on 19th November 2023, with policies including 15% cuts to public spending, privatization, and reduced fuel subsidies.

Title:

Content: International News

Who Is Javier Milei?

Alex Paszkowicz

Brandishing a chainsaw throughout his electoral campaign, the libertarian and self-proclaimed ‘anarcho-capitalist’ Javier Milei won the Argentine general election on 19th November 2023. Milei’s policies and personality cause controversy, so who is the television pundit turned politician?

Beating his rival Sergio Massa with 14.4 million votes to Massa’s 11.5 million, Milei will begin his 4-year mandate starting on 10th of December. After winning a majority of just 4 out of the twenty-four Argentine provinces, Massa conceded defeat at the Unión por la Patria‘s campaign house before the results were officially published.

The centre-left finance minister admits that “obviously these are not the results we hoped for, and I have spoken to Javier Milei to congratulate him because he’s the president that the majority of Argentines have chosen for the next four years”.

Massa has also hinted that he will retire from front-line politics.

The Peronist political movement has been pushed out of government

Milei’s victory has dismantled the left-wing political establishment, even ending Argentina’s 2-party political system. Created in the 1940s by Juan and Eva Perón, the Peronist political movement has been pushed out of government, despite ruling for sixteen out of the last twenty years. His campaign fell short despite Massa continuously appealing to voters’ fears surrounding Milei’s volatile character and risky economic policies.

Compared with Massa, and judging by the election result, Milei is seen as the lesser of two evils in Argentina, as the previous Peronist government could not provide economic stability.

The third-largest Latin American economy has almost reached inflation of 150%, and 40% of Argentina’s 45 million population is in poverty. Furthermore, the International Monetary Fund has rescued the Argentine state twenty-two times, with the most recent loan of $44 billion in 2018.

Milei used his platform […] to circulate conspiracy theories

Economist Sergio Armella believes, “it is indisputable that a swift change from the failed economic policies of the past is imperative. The accumulated economic imbalances have grown too large and must be addressed promptly”.

Nicknamed ‘El Loco’ and before running for president, Milei used his platform on television to circulate conspiracy theories around election fraud and Argentina’s economic problems.

Combined with his extravagant personality and viral TikTok videos, he targeted a younger audience who had grown up through economic hardship and strict Coronavirus lockdowns. Milei’s camp is also known to question the national consensus, which has lasted four decades, over the crimes of its 1976 to 1983 dictatorship, which killed around 30,000 people.

“The reconstruction of Argentina begins” [Milei]

The man with five cloned dogs, each named after a different right-wing economist, claims that with his new mandate, ‘“the reconstruction of Argentina begins”. Calling the result a “miracle” in his victory speech, he says that the result “marks the end of decadence in Argentina”.

He believes Argentina will return to being a “global power”, while alluding to those conspiracies he supported in his past where previous governments, “shared the state amonpoliticians and their friends”.

Although he abandoned his chainsaw to improve his public image, the symbol refers to his promise to decrease inflation by cutting public spending by 15% and privatising state companies, while reducing fuel and electricity subsidies.

Milei wants to abolish the central bank and adopt the US dollar as its official currency, to stop the country from printing more money like previous governments. If the dollar’s value continues to devalue, then inflation could rise with a risk of hyperinflation, which could return after three decades.

Aims to sever ties with China

Milei has no interest in joining the BRICS alliance, and aims to sever ties with China to help move towards privatising state-led companies like the oil industry.

According to economist Elizabeth Bacigalupo, this includes an estimated $10 billion in annual savings on energy imports through a new gas pipeline in Vaca Muerta. Also, this year, the drought in Argentina reduced its agricultural exports from $39 billion in 2022 to $23 billion. But with next year’s predictions, exports could be up to $40 billion.

The problem Milei faces is how fragmented the Argentine Congress is. The coalition he formed with the conservatives after the first round only has 10% of the Senate and 15% of the lower house, meaning he will have to negotiate with his political rivals to push through his complicated reforms.

Any delay in economic progress could lead to more inflation and social unrest.

Despite insults hurled at Brazil’s President, Luiz Inácio Lula da Silva, by Milel throughout his campaign, he wished him support on social media, saying “democracy is the voice of the people and must always be respected”.

Donald Trump believes Milei will “Make Argentina Great Again”

Former US president Donald Trump believes Milei will ‘Make Argentina Great Again’. Businessman Elon Musk expressed a similar sentiment and posted, ‘prosperity is ahead for Argentina’.

Reactions from Milei supporters are varied, with voters desperate for change. A supporter named Michelle Chelsea in Buenos Aires says, “economic policies have led us to this situation. Today, more than half of the population has voted for a different option, and I hope that things will change a lot”.

A Food Service Worker, Alejandro Bravo, is hopeful for the future. “It’s an incredible joy. It’s the end of a never-ending decline, so to corrupt politicians, we say, “get lost”‘.

“We’ve had enough corruption, enough insecurity, enough inflation, enough poverty. We were very tired, we wanted something new, we wanted to see new faces”, states supporter Barbara Rubin.

Alex Paszkowicz

Featured image courtesy of Angelica Reyes via Unsplash. Image license found here. No changes were made to this image.

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Categories
International NewsNews

He aims to abolish the central bank, adopt the US dollar, and address Argentina's 150% inflation rate and 40% poverty rate through economic reforms.

As of 2024, what are the statistics regarding poverty?

dollarizing the Argentinian currency
closing the central bank

What economic issue did Milei want to address?

Milei launched 300 economic reforms in Argentina, including privatization and a 54% peso devaluation to 800 per US dollar.

Title:

Content: More than 300 economic reform measures in Argentina rebounded, new president ignored: urged Congress to speed up deliberation
Written by external sources (international)
Published: Updated:
After becoming president of Argentina, Javier Milei, known as the “Trump of Argentina, ” launched a“ shock therapy ” and issued an economic decree with more than 300 reforms, including privatization of state-owned enterprises, an end to export restrictions and deregulation.
According to the US media "New York Times", Reuters and other foreign media reported on December 23, Argentina's national inflation has accelerated rapidly in the past two weeks, and more than a dozen provinces have declared a state of economic emergency.
In recent days, people across Argentina have taken to the streets to show their dissatisfaction with the Mirai government.
However, Millet remained unmoved and called for a special session of parliament to speed up the implementation of the reform policy.
“High inflation has become synonymous with Argentina, and people are used to rising prices.
But after Millet took office, people ’ s lives became more painful. ”
The New York Times reported on the 23rd that in the past two weeks since Millet became president, prices in Argentina have soared at a dazzling rate.
The owner of a bar in the Argentine capital Buenos Aires has seen the price of beef soar by 73% and the price of cucumber by 140%; a Uber driver says she now pays 60% more for filling the tank; and a father says he pays twice as much for diapers as he did last month.
The report quoted government data as saying that the price of gasoline has recently soared by 60%.
There are also analysts who predict that Argentine house prices will rise another 25% to 30% in the near future; from now until February next year, house prices will continue to rise 80%.
Argentine President Javier Milei announces economic measures in a televised speech in Buenos Aires on December 20, 2023.
This is a screenshot of a video released by the Argentine government.
(ARGENTINE GOVERNMENT TV / via REUTERS TV / Handout via REUTERS)
“We ’ ve been worried since Milai won, ” said Fernando Galli, 36, who was pessimistic about the situation.
He is a high school philosophy teacher in Buenos Aires and is raising two young daughters (one 6 years old and one 18 months old).
The New York Times said that most Argentines are struggling to figure out how to make ends meet, and every time they buy necessities, it is like taking a complicated economics course.
As President, Argentina is in the midst of a severe economic crisis, with a cumulative inflation rate of 142.7% and a poverty rate of more than 40% over the past 12 months.
Argentina is also facing a debt crisis, with more than $44 billion owed to the International Monetary Fund.
Since this year, Argentina ’ s inflation rate has peaked at 8.4% in April, and some experts predict that Argentina ’ s gross domestic product will shrink by 3.1% this year and another 0.2% in 2024.
During his presidential campaign, Millet made "astonishing remarks" and proposed a number of "surprising" policy proposals. He promised to cut the central government departments from 18 to 8 and cut them to 9 on his first day in office, and quickly fulfilled this campaign promise.
In addition, he has promised to adopt so-called “economic shock therapy, ” advocating the“ burning up ” of poorly managed central banks, abolishing the peso, shifting to “dollarization ” across the board, slashing spending, allowing open carry of firearms, legalizing organ trade, and restricting abortion.
Milley himself issued an early warning.
At his inauguration ceremony on Dec. 10, Mr. Millet said publicly that he would reduce the size of government and rebuild the economy, something that would hurt at first, but “I would rather tell people the uncomfortable truth than the comfortable lies. ”
In Buenos Aires, Argentina, on December 21, 2023, demonstrators protest against the new policies of Argentina ’ s new president, Mirai, outside the parliament building. (Reuters)
Two days after taking office (12), Millet began to engage in "shock therapy", taking a series of measures, including cutting government spending, reducing consumer subsidies, and stopping tenders for new public works, in an attempt to reduce the fiscal deficit and control inflation.
Argentina ’ s economy minister announced on the same day that the new government lowered the official exchange rate to 800 pesos per US dollar, a 54% devaluation.
On December 20, Millet signed an emergency economic decree announcing more than 300 reforms, including the privatization of state-owned enterprises, the end of export restrictions and the relaxation of regulations, in order to achieve the "liberalization" of the Argentine economy.
The New York Times quoted economists as saying that although Millet's measures are necessary to solve Argentina's long-term financial problems, they also cause short-term pain.
At the same time, some analysts question the lack of safeguards for the poorest people in Argentina.
One Argentinian put it bluntly: “It is impossible for people ’ s wages or incomes to adapt to this rate of inflation. ”
Thousands of people, led by representatives of the unemployed, took to the streets of Buenos Aires on Monday to stage the first mass protest since the Mirai government came to power against the new government ’ s “economic shock therapy ” and austerity policies, demanding more support for the poor.
Demonstrators hold flares outside the parliament building in Buenos Aires, Argentina, on December 21, 2023, to protest against the new policies announced by Argentina ’ s new president, Miguel Millay. (Reuters)
In the face of public dissatisfaction, the Milai government did not move.
On the day of the protests, the Argentine government deployed a large number of police to stop protesters from blocking roads.
The Millet government has also threatened to take tough action against any group of organisations trying to thwart its plans through disruptive protests, and those blocking roads could lose their right to state benefits.
Manuel Adorni, a spokesman for Millet, also responded that higher inflation is an inevitable process to repair Argentina ’ s “distorted economy. ”
"There are many difficult and unresolved problems in Argentina, and we have to start solving them," he said.
We will inevitably experience months of high inflation, "he said.
On the evening of the 22nd local time, Millet said that he had submitted the law to the Argentine parliament on the same day, and called on the parliament to convene a special session between December 26 and January 31 to discuss the relevant issues.
Reported that the current parliament is in recess, the next meeting is scheduled for March next year.
This article is authorized by the Observer Network

What economic issue did Milei want to address?

The president promised to cut government departments and dollarize the economy to reduce bureaucracy and combat inflation.

Title:

Content: “A chaotic capitalist. ”
Who was elected President of Argentina?
2023-11-20 | 06: 31
Alsumaria News – Dawliyat
A controversial television personality, he has long been likened to former US President Donald Trump, and indeed the latter was one of the first to congratulate him after his election as president of Argentina.
Who is Javier Milly?
Mili won about 56 percent of the vote in Argentina ’ s presidential election, according to partial official results reported by AFP.
His opponent, Economy Minister Sergio Massa, won about 44.2 percent after 95 percent of the vote was counted, and he already conceded defeat and congratulated Mili in a phone call.
One of the first commentators on the news of Millie ’ s election was Donald Trump, who wrote on his social media platform, Truth Social: “I ’ m proud of you.
It will change your country and make Argentina great again. ”
U.S. Secretary of State Anthony Blinken issued a statement on Monday saying the election was “a testament to Argentina ’ s electoral and democratic institutions, ” noting that Washington“ looks forward to working with President-elect Milley and his government on shared priorities. ”
Man of Economics and Music
Milley, 53, describes himself as a “chaotic capitalist, ” and the economist only entered politics two years ago.
His victory comes at a time when Argentina is trying to solve the problem of inflation, which has reached 143 percent, one of the highest in the world, poverty afflicting about 40 percent of the population, as well as the debt crisis and the devaluation of the local currency.
Videos of Milly went viral after he was sure to win the election in a state of great joy.
According to the Guardian, Millie “suffered as a child due to the mistreatment of his parents, as well as bullying at school during the 1980s. ”
Argentina ’ s president-elect loves music, has previously been a lead singer for a band and has always loved Bob Marley and Verdi.
Milley gained fame during his television appearance as an economic analyst, where he often talked about suffering due to inflation, as well as talking live about sexual topics.
The Guardian report noted that Millie ’ s character “was always meant to attract attention, which helped him enter the world of politics. ”
His friends and foes alike likened him to Trump and also to Brazil ’ s former and right-wing president, Jair Bolsonaro, whom he called “Trump Argentina. ”
"The lesser of two evils."
Mili was elected to Argentina ’ s parliament in 2021 for La Libertad Avanza, before taking office amid voter anger over corruption and mismanagement following the country ’ s worst economic crisis in two decades.
According to AFP, some Argentines described the vote as the choice of "the lesser of two evils", between fear of the painful economic solutions proposed by Mili and anger at the economic crisis.
Milley pledged to find a solution to the economic crisis in the country, beginning with the closure of the central bank and the disposal of the local currency (peso) and dollarization of the economy and reduce spending and get rid of the "parasitic class", which met with the approval of voters despite the difficulty of these measures.
But some experts believe that Milley "will retreat from his hard-line policies and will be forced to moderate as he takes the reins next month, because of the difficulty he may face in implementing his plans, with his party holding 38 seats in the upper legislative chamber of the country, out of 257 seats, while in the Senate it has 8 seats out of 72."
During his campaign, he made promises similar to what Trump has long talked about for America, and said he would “make Argentina great again, ” the slogan for Trump ’ s campaign,“ Make America great again. ”
“Today the end of decadence begins, and the reconstruction of Argentina begins, ” Argentina ’ s president-elect said on Sunday, warning that there would be“ no half-solutions. ”
Addressing thousands of supporters at his campaign headquarters in Buenos Aires, Milley said: “The poor class model is over, and today we are adopting the model of freedom to once again become a world power.
Today the way politics were practiced ends, and another way begins. ”
Milley will assume the presidency on December 10, succeeding President Alberto Fernandez.
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Milei's economic plans include solving the debt crisis and dollarizing the economy to combat inflation, which would require Congressional approval and constitutional change.

Title:

Content: Argentina election: Javier Milei's radical proposals face test of reality

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Javier Milei, the anti-establishment politician who cruised to victory in the Argentine presidential election last week, has courted intense controversy with radical, provocative policy proposals and statements.

This led many detractors of the self-styled "anarcho-capitalist" to call his candidacy a "leap into the void".

Now, with the mop-haired president-elect only two weeks away from taking over Latin America's third-largest economy, many are asking, how will his policies and positions face the test of reality?

Taming inflation takes time

Javier Milei had proposed to dollarise the economy and eliminate the Argentine Central Bank as a strategy to "kill" hyper-inflation. This meant making the US dollar the national currency in place of the Argentine peso, whose value, Mr Milei said, had been "melting like blocks of ice in the Sahara".

One obstacle is that ditching the Central Bank and making the US dollar legal tender would need approval from the Argentina's Congress and could even require changing the constitution.

Although Mr Milei convincingly won the presidency, his Libertad Avanza (Freedom Advances) movement is barely the third largest political force in Congress. This suggests difficult negotiations might be in store.

Some economists have also questioned whether Mr Milei's plans are feasible, saying they would weaken his government's ability to manage domestic monetary policy.

Having the US dollar as the Argentine currency would effectively leave interest rate policy in the hands of the US Federal Reserve. Argentina's economy would be more vulnerable to external shocks involving the US dollar, for example sudden rises in prices for oil and fuel imports, which could make internal adjustments even more painful inside the country.

Sceptics also point out that Argentina would need to have in hand the US dollars to replace the pesos. Experts believe this could require anywhere between US $35bn to $50bn which indebted Argentina currently does not have and may not be able to borrow easily.

Mr Milei himself has admitted his "shock adjustment" economic stabilisation recipe could actually take up to two years to bring down inflation. "Saying anything else is lying," he said.

A climate sceptic?

Another topic that had made media headlines was Mr Milei's apparent declaration of himself as a climate change "sceptic", that is, someone who denies the role of humans in global warming.

"I do not deny climate change. What I am saying is that there is a temperature cycle in the history of the Earth... Therefore, all those policies that blame humans for climate change are false," Mr Milei said during a presidential debate last month, causing much commentary and criticism.

In his proposed government programme, one of the numerous ministries he had said he planned to axe would be the existing environment ministry.

Such apparent climate scepticism risked putting Mr Milei sharply out of tune with an international majority of governments and leaders who plan to gather at the COP28 climate conference in Dubai soon to seek urgent solutions to the problems of climate change and global warming.

Pragmatism and the Pope

Before he was elected, Mr Milei virulently attacked Argentine Pope Francis, calling him a "Jesuit who promotes communism", and even the "representative of the evil one [the Devil] on Earth".

Such statements caused frictions with the local Catholic Church and the Vatican.

However, this antagonism appeared to miraculously dissipate only days after his election win, when Mr Milei had what he called a "very friendly" phone call with the Pope, whom he addressed as "Your Holiness", inviting him to visit Argentina in 2024.

Asked in a TV interview about this change of heart, Mr Milei conceded that, when one is president, "there are some things that require greater doses of pragmatism".

No break with China and Brazil

Before his election, Milei had signalled he could freeze ties with Brazil and China, Argentina's two top trading partners, on the grounds that he did "not make pacts with communists".

"I am going to be aligned with the United States, Israel, and the free world," he said.

Not surprisingly, this assertion caused consternation in Beijing and Brasilia, as well as in Argentina.

A Chinese foreign ministry spokesperson was quoted as warning that it would be a "huge foreign policy mistake" for Argentina to cut ties with countries such as China and Brazil.

Mr Milei's predecessor, outgoing left-wing President Alberto Fernández, had carefully nurtured ties with Beijing and had welcomed an invitation to join Brics, the China-led group which also comprises Brazil, Russia, India, and South Africa.

Experts questioned the wisdom of dismantling a relationship that clearly brought benefits to Argentina, and not only by China being a top market for Argentina's soybean, meat and grains.

China was also helping to prop up Argentina's financial reserves with a major currency swap deal - significant support for a country already heavily indebted to the International Monetary Fund (IMF).

Days after the election, however, there seemed to be clear signs that no major break in relations was planned. The president-elect received a personal letter of "congratulations and good wishes" from Chinese President Xi Jinping and Mr Milei himself made a point of thanking Xi on social media.

Mr Milei's pick for foreign minister, Diana Mondino, also dismissed as "nonsense" any suggestion that there would be a rupture in "commercial relations" with China or Brazil.

In Brazil, Mr Milei's invitation for former President Jair Bolsonaro to attend his 10 December inauguration was interpreted as "unfriendly" towards Brazil's current left-wing President Luiz Inácio Lula da Silva.

But Milei has since said Lula would be "well-received", if he wanted to come.

Dictatorship denial

Mr Milei and his vice-presidential running-mate Victoria Villarruel also ignited intense controversy during the campaign with their position regarding Argentina's 1976-83 military dictatorship.

Defying traditional positions held by Argentina's government and society for the last 40 years, Mr Milei caused outrage by contesting the generally accepted estimate of those abducted and "disappeared" in the dictatorship - 30,000 - asserting the actual number was closer to 9,000.

The candidate argued that the political violence of the 1970s in Argentina was a two-sided "war" in which "the forces of the state committed excesses but the terrorists [anti-government guerrillas] ... [also] committed crimes against humanity".

This equivalence of presentation of the two sides raised howls of protest from groups like the Plaza de Mayo mothers and grandmothers of disappeared persons.

This was just another striking way in which the Milei-Villarruel duo were trying to shake up the political status quo in Argentina. The next four years will show if they can do it.

What economic issue did Milei want to address?

What issue did Milei want to address without printing money?

Milei's economic policy, based on radical free-market liberalism, aims to spur growth and reduce poverty, while criticizing socialist governments for causing economic chaos.

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Argentina presidential election: A runoff of economic ideals

Tobias Käufer
November 17, 2023

Argentina's Economic Minister Sergio Massa and libertarian Javier Milei face off in a nail-biting presidential runoff. The two candidates have radically different solutions to Argentina's economic woes.

https://p.dw.com/p/4YuiH

Economic policy is the key issue in Argentina's runoff election on Sunday, as voters decide between the economic policy of current Economy Minister Sergio Massa and his rival Javier Milei, a far-right libertarian economist known for his radical free-market liberalism.

Argentina's dire economic figures recently reported by the National Statistics Institute (INDEC) may speak for a change after the depressed Latin American country's cost of living surged a staggering 142.7% over the year. The poverty rate in September stood at 38.9%, according to the Buenos Aires-based Pontificia Universidad Catolica (UCA).

Argentina unveils new 2,000-peso bill as inflation bites

Milei's radical ideas for Argentina's economy

Argentina has for decades been plagued by financial chaos and weak economic growth which opposition candidate Javier Milei says is the result of successive left-leaning governments and their failed socialist economic policy.

"Those who have led us into inflation and poverty are now trying to instigate fear [among the population]. Argentina was a world power at the end of the 19th century, then came the decline under the socialist governments," Milei said this week at a campaign event in Rosario in the province of Santa Fe.

He's repeatedly accused his center-left rival of running a fear campaign that would denounce him as an ultra-right hardliner who would seek to undo basic rights and democracy in Argentina. In his campaign, Milei is styling himself as the defender of the country against populism as he aims to "reduce privileges, not rights."

Milei has attracted a lot of attention for his promises to radically overhaul the Argentine government and economy with a plan to eliminate the nation's central bank and replace its currency with the US dollar. He wants to significantly reduce the state apparatus, lift laws and regulations on the economy, and privatize state services. Other controversial proposals from his camp include liberalizing organ trade and privatizing Argentina's territorial waters.

With his radical free-market orthodoxy, Milei hopes to spur economic growth and subsequently lift more Argentines out of widespread poverty.

Massa's gentler economic reforms for Argentina

Sergio Massa is a veteran of Argentine politics and the new leader of the Peronist political movement which is based on the left-wing ideas of former President Juan Peron, who ruled Argentina several times between the 1940s and 1970s. The so-called Peronists have won nine of the last 12 free and fair presidential elections.

Massa has replaced Alberto Fernandez as the Peronist frontrunner after the hapless president voluntarily resigned in April this year. He was the winner of the first round of voting in October after making a surprise comeback from poor pre-election polls capturing nearly 37% of the vote, compared with 30% for Milei.

Massa, who has led Argentina's economy for more than a year, pushed through several policies in support of his candidacy, including programs that return sales tax to certain workers and eliminate income tax for others. He has promised to maintain some economic policies that conservative economists criticize, such as large subsidies for Argentines' energy costs.

In addition, he hopes to generate enough tax and trade surpluses to help negotiations with the International Monetary Fund (IMF) on restructuring Argentina's massive debt.

Argentina's untapped economic potential

Argentina has much to offer to the rest of the world but has yet to leverage it for the benefit of the entire population. This includes large lithium deposits crucial for the transition to e-mobility, as well as offshore oil reserves and abundant natural gas reserves. Moreover, it has the potential to produce green hydrogen, its farming sector is competitive, and the country has a young, well-educated population.

"The biggest challenge for the next government is to develop an initial stabilization plan and then push through a series of structural reforms to profoundly change the economic system," Agustin Etchebarne, director of the Libertad y Progreso Foundation in Buenos Aires, told DW.

Etchebarne is part of a group of economists who condone radical structural changes to the economy to lift Argentina out of its current crisis. Others, including about 100 renowned international economic experts, are more skeptical.

In an open letter recently, some high-profile economists the likes of Thomas Piketty from France, Jayati Ghosh from India, and the former Finance Minister of Colombia, Jose Antonio Ocampo, have warned Milei's proposals are "full of risks that could potentially be very harmful to the Argentine economy and the Argentine people."

This article was originally written in German.

The president's government has introduced a decree to repeal over 300 laws and an omnibus bill granting the government 1,000 extraordinary powers.

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Content: Argentina’s Javier Milei’s “Instant Democracy” and Neoliberalism

Javier Milei, YouTube screen grab.

Self-described “anarcho-capitalist,” Javier Milei became the president of Argentina in December 2023 promising “drastic” measures to temper the inflation crisis that has gripped the country. In the weeks since his election, Milei has brought forward an ambitious neoliberal restructuring program encompassing almost every aspect of the government.

Milei’s agenda confronts considerable opposition in Congress, where his governing coalition, Libertad Avanza, holds only a fraction of the seats. To adjust to these circumstances, Milei has cultivated a strategy of “turbo-politics,” bypassing legislative processes that risk delaying the implementation of his state reorganization plans.

Milei’s approach to Congress is symbolic of a decades-old strategy I have elsewhere called “neoliberal parliamentarism.” This concept describes a pattern of deliberate efforts to reform or subvert legislative institutions as a means of facilitating neoliberal reforms that do not have sufficient popular support to be actualized through usual democratic channels. These changes, even when temporary, often leave long-term scars on institutions by weakening norms of institutional forbearance.

The Emergency Decree and the Omnibus Bill

Milei has followed this blueprint, insulating the core elements of his agenda from democratic influence. The dismantling of the Argentine state began in earnest in mid-December when the executive branch presented an 83 page Necessity and Urgency Decree (NDU) aimed at repealing over 300 various laws and regulations, facilitating the privatization of core public assets.

This “mega-decree,” Milei claimed, was necessary to “start to undo the huge number of regulations that have held back and prevented economic growth”. It includes sweeping economic deregulation, such as the elimination of regulations on Argentina’s supermarket laws, which required the guarantee of low prices on basic products. It also includes measures to eliminate rent controls. Suggested labour reforms to cut pregnancy leave and increase the job probation period were suspended by the courts in January 2024.

Less than a week after issuing the NDU, the executive branch sent a massive omnibus bill titled Foundations and Starting Points for the Freedom of the Argentine People to Congress for consideration. The bill bundles the major elements of Milei’s neoliberal restructuring initiatives under the heading of a single piece of legislation with 664 articles. It will enable the government to carry out, in a matter of weeks, what would normally take years to achieve if these reforms were considered independently and subjected to the usual legislative scrutiny.

Reforms from the 351 page bill include an extraordinary provision declaring a state of public emergency on matters related to the economy, fiscal balance, social security, defence, health, and administration.

The emergency declaration delegates more than 1,000 extraordinary powers from the legislative to the executive until December 31, 2025, with the possibility of a two-year extension. This provision would enable Milei to make major reforms without having to consult Congress, thus eliminating a major hurdle to the implementation of neoliberal reforms.

Authors of the bill are attempting to facilitate the privatization of 41 state-owned companies across various sectors including energy, aviation, port administration, and agriculture. They also enable the reorganization of public administration, including embedding regulatory cuts from the NDU into law.

Additionally, the omnibus legislation proposes substantial reforms to environmental protection laws. These changes include the weakening of the Glacier Protection Law, allowing the mining of sensitive “periglacial” areas. The bill is presently being rushed through the legislative process by way of Extraordinary sessions of Congress, leading to marathon sittings during Argentina’s usual summer recess period.

“It’s impossible for people to have an idea of the enormous number of proposals Milei has sent,” said Ricardo Gil Laverda, a constitutional lawyer and former Argentine Justice Minister. “They cover dozens and dozens and dozens of laws, often on deep topics.”

To influence negotiations, Milei has threatened to put forward a non-binding referendum if the opposition parties do not agree to the main terms of his restructuring plan. Milei has also threatened to take away social welfare rights from protesters who block streets.

Despite these efforts, however, the reality of Milei’s lack of Congressional support has led him to compromise on some elements of his agenda as it makes its way through the legislative process. Although the structure of the bill remains, opposition politicians have made more than 100 changes to it, including curtailing the scope of the President’s emergency powers to one year rather than two, and retaining YPF, the national oil and gas company, in public hands, despite allowing most other state-owned companies to remain subject to privatization.

Neoliberalism and the Decline of the Legislature

Argentina is not unique. This most recent example of legislative subversion is a familiar tactic used to accommodate neoliberal restructuring, that has been utilized repeatedly by neoliberal reformers in recent decades, including the IMF-sanctioned omnibus bill rammed through Greece’s parliament in 2014.

This approach to the legislature is the consequence of the political limitations of neoliberal policy, which is opposed by considerable segments of society. A blueprint for this strategy is spelled out by former New Zealand Minister of Finance Roger Douglas in his 1993 book, Unfinished Business. The book recalls lessons from his experience implementing a neoliberal agenda dubbed ‘Rogernomics’ in the 1980s against the headwinds of widespread social and political opposition.

Douglas claimed it is “uncertainty, not speed, that endangers the success of structural reform programmes.” Neoliberal reforms should not be passed incrementally, but as a rupture, moving in “quantum leaps” to overcome popular opposition.

Democratic processes are typically slow and deliberate, designed to enable the legislative body to scrutinize the executive, foster compromise, and encourage debate. It was necessary, therefore, to streamline the democratic process to ensure that politicians could neither interfere with, nor demand meaningful changes to, neoliberal reorganization efforts.

Neoliberal governments should confront the legislature, not as an essential element of the process of democracy, but an instrument used by politicians and vested interests to interfere with the operations of the marketplace. “Speed is essential. It is almost impossible to go too fast,” Douglas said. “Once the programme begins to be implemented, don’t stop until you have completed it.”

This tactic did not occur in a vacuum, but emerged intrinsically from the content of a neoliberal theoretical framework that views democratic institutions as an additional layer of state administration to be overcome. Neoliberal thought is deeply skeptical in the capabilities of reason to infer or predict causality. Given the limitations of the mind, society should be governed, not by conscious modelling and careful planning, but according to spontaneous or “invisible hand” forms of social organization, which are the outcome of independent, unplanned individual decisions.

This position is most clearly expressed by Friedrich Hayek, who claimed that parliamentary sovereignty was in fact the “root of the evil” in modern society, since it facilitated the growth of the state. Legislatures constituted one limb of what Milton Friedman called the “iron triangle” of politicians, bureaucrats, as well as corporate and individual special interests that were perpetually reliant upon the government for rents, and therefore had an interest in obstructing market reforms.

‘Instant Democracy’ and the Rise of ‘Neoliberal Populism’

What should we make of Milei’s approach to Congress, then? Is it reflective of a new pattern in neoliberal governance, or merely the extension of an old one? The answer is both. While Milei’s approach clearly shares categorial similarities with the neoliberal legislative blueprint built for speed, his blending of these ideas with a coarse, populist rhetoric grounded in anti-statism, signifies an intensification of these patterns.

Milei’s populist neoliberal worldview contributes to a rising trend among far-right governments around the world to use this rhetoric to rationalize the subversion of democracy. This kind of “neoliberal populism” conflates democratic institutions with political actors, claiming that they are instruments of obstruction for self-serving politicians and bureaucrats.

This is a view Milei has proudly declared. “For me, the state is an enemy, as are the politicians who live off it,” he said. “We will put an end to the parasitic, stupid, useless political caste that is sinking this country.”

Grounded in the same logic as neoliberalism’s conventional demand for freedom from the state, democratic institutions increasingly appear as impediments to the logic of the marketplace. The elimination of cumbersome legislative processes, then, removes the obstacles that restrain market forces, generating popular economic independence, and restoring common-sense. This inverts the logic of democracy, making it appear as though executive rule is necessary to protect the interests of “the People” from Friedman’s “iron triangle.”

The anti-parliamentarism at the core of the neoliberal theoretical outlook has increasingly transformed into a populist program that mobilizes a general dissatisfaction with politicians against democratic institutions as such. Neoliberal politicians, such as Milei, use this reasoning to manufacture the conditions for the ongoing use of emergency powers and the concentration of authority in the executive branch.

The global elite, sensing “the smell of a big privatization wave coming,” are said to be “infatuated” with his take-no-prisoners approach to Congress. Thus, although not a new phenomenon, Milei’s brand of “instant democracy,” which conceives of speed and flexibility as the essence of legislative governance, has the support of both the financial elite as well as a growing populist dimension, giving it the hallmarks of a burgeoning political movement of the most regressive kind.

As the institutional forbearance that restrained most neoliberal governments to stay within the confines of liberal democratic constitutional structures continues to give way to a logic that sees the legislature as subordinate to the market, it is likely that we will continue to see the erosion of democratic standards.

Tom McDowell is a Lecturer in the Department of Politics and Public Administration at Toronto Metropolitan University. He is the author of Neoliberal Parliamentarism: The Decline of Parliament at the Ontario Legislature (University of Toronto Press, 2021).

Milei's plan has raised concerns about the democratic process and has significant implications for Argentina's governance, society, economy, politics, and institutions.

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Content: Areas of instability: what is happening in South America today
Problems in the US Backyard
“Depending on how you call these disputed territories, you can understand whose side you are on in this long-standing dispute, ” the experts joked.
In 1883, the Falkland Islands were occupied by the United Kingdom.
Their inhabitants, by the way, in the referendum of 2013 wished to remain subjects of the then Her Majesty.
Argentina, in turn, tried in 1982 to regain control of its Malvinas Islands.
The fighting lasted 74 days.
Nearly 1,000 soldiers were killed.
The victory of London.
And now, after almost 40 years, Buenos Aires seems to be ripe for revenge.
All this new Argentine President to begin with politely offered to discuss the British.
They say that Hong Kong was transferred to China in 1997.
In response, however, he received a strong refusal.
But neighbors in the region - in particular, Venezuela - with both hands for the triumph of historical justice.
In general, the words “bluff ” and“ outrageous ” can describe everything that Javier Miley, who took office a month ago, does.
The first under the administrative saw were employees of the state apparatus.
By his order, Miley dismissed all officials who came to work in 2023.
Who will implement the "great reforms" of the Argentine president, and there are about 300 of them, even experts do not really understand.
In the "basket" went the majority of benefits, social payments and government contracts.
The state will not build kindergartens, schools, hospitals and roads.
And we don ’ t need all this in a country of “victorious libertarianism. ”
It was with this program that Miley went to the elections.
Maximum of freedom.
minimum of regulation.
As they say, get it, sign it.
“First of all, he is referring to economic freedoms on the principle of“ the market will regulate everything. ”
But we know well even on the example of our country, when this slogan sounded in the early 90s, that the market can not regulate everything, ” said Lazar Heifetz, Doctor of Historical Sciences.
The main instrument of Miley ’ s economic program is artificial devaluation.
54% immediately.
That is, the already weak national currency was literally thrown into the abyss.
Argentina ’ s pride, its national treasure and its people ’ s favorite product, meat, is the most visible indicator of economic change.
“I have two dogs, and I usually bring them meat cuts.
They both ate a kilogram each day.
It's over now.
Two weeks ago, I was paying 2,300 pesos per kilo.
Last Friday it was 3000 and today it is 4000!
In a short time, meat has risen by 65%.
I ’ ve been working for 25 years and I ’ ve never seen it, ” says butcher Sergio Gomez.
According to Miley himself, his program will bring results at best in 10 years.
It's not guaranteed.
During this time, Argentina may lose not only what is left of the national economy, but also natural resources.
No wonder there are so many people dissatisfied with this policy.
However, on them the supporters of "universal freedom" the government was found.
And this is not self-regulation, but old-fashioned administrative measures.
We started an audit in foreign policy.
Here, the pace is more modest.
The UN Miley called it a “useless thing. ”
With China and Brazil, contrary to election promises, did not break economic and trade relations.
The refusal to join BRICS, he argued that the country simply does not have the money to do so.
Finally, the fiery alliance with the United States did not happen either.
Washington is clearly not eager to take another dependant.
"During the election campaign, he said loudly - blow up the Central Bank!
We look at the composition of the government and see that he has appointed the chairman of the Central Bank.
However, this position was not assigned to the author of the idea of dollarization, but another person.
This indicates that Miley and his economic team will not insist on dollarization in the near future.
“Electoral promises, especially from populists like Javier Miley, are one thing, and real politics, including foreign policy, is a little different, ” Heifetz said.
Here and observes the world for what is happening as a fascinating Latin American series.
The eternal antagonists Batman and Joker were seen on the streets of the capital of Ecuador.
It also reminds me of a blockbuster.
In this case, a thriller.
A state of emergency has been declared in the country.
In front of a multi-million audience, armed thugs burst into the studio of the final program.
Shot at one of the cameramen.
The other has a broken arm.
Through the leading intruders put forward their demands to the authorities.
The hostages were eventually released, but several prisons remain seized.
The prisoners revolted.
It all began with the escape from custody of the leader of one of the criminal groups “Los Choneros ”.
Jose Adolfo Macias, nicknamed Fito.
And if the military managed to take control of the situation in the capital, the residents of port cities are still afraid to go out.
In fact, the Mafia has declared war on the government.
The dead, including police officers, are more than 10.
"Unfortunately, Ecuador has recently held a record for the number of murders.
It is a country where there is a lot of violence.
And even if you remember the last presidential election, a presidential candidate and another parliamentary candidate were killed.
So, basically, it all came together.
It is also a big blow to the government.
Because President Daniel Noboa came in with a crime-fighting program.
A very tough fight.
Creation of mega-prisons, ” said Dmitry Rozental, acting director of the Institute of Latin America of the Russian Academy of Sciences.
Like the Argentine president, Noboa has been in power for less than a hundred days.
But already managed to make a lot of management mistakes, experts emphasize.
The security services were not ready for the mutiny.
While the mafia all long and carefully planned.
And now, instead of throwing all his strength to solve domestic problems, Noboa is trying to flirt with the United States.
Quito will give Washington allegedly “old ” Russian equipment worth $200 million.
The United States, in turn, will send it to Kiev.
Moscow has already called such actions of the Ecuadorian authorities unfriendly.
According to Colombia, it was the US policy that provoked the unrest in Ecuador.
On the turn and other countries of the continent, experts are sure.
Problems, like a snowball, will only increase.
“I think that Latin America is already a hotbed of instability, given that the domestic political situation in many countries is very difficult.
For the US, control of Latin America is key in terms of ensuring its own national security, and the Americans, of course, seek to influence the countries of Latin America.
They try to put pressure on them.
Remove non-regional actors from the region.
Like China and Russia.
Another question is how well they do it.
The world has changed, it is not the same as it was in the 80s of the 20th century, ” concluded Rosenthal.
Old methods like color revolutions or puppet governments no longer work.
And while Washington is busy with Ukraine and the Middle East, the sparks of a big geopolitical fire are burning brightly in its backyard.
Matvey Shestakov, TV Center
All the most interesting - in our channel "Zen"
The main thing today
Protests in Argentina
Javier Miley
Anti-terrorist operation in Ecuador
Anti-terrorist operation in Ecuador
Anti-terrorist operation in Ecuador
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Milei's policies, including privatization of health and environment sectors, may lead to mass scientist emigration and have significant social and environmental implications.

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Content: Javier Milei’s Radical Agenda Threatens Argentina’s Scientific Community

As the 22 October presidential election in Argentina draws near, scientists in the country are growing increasingly concerned about the potential implications of front runner Javier Milei’s radical agenda. One of his most controversial proposals is the complete shutdown of the National Scientific and Technical Research Council (CONICET), the country’s main science agency and a critical source of funding for over 12,000 researchers across 300 institutions.

Milei, a libertarian candidate often compared to former US President Donald Trump and former Brazilian President Jair Bolsonaro, argues that shutting down CONICET and relying on private investment for scientific research could alleviate Argentina’s ongoing fiscal crisis. He has also proposed privatizing other sectors, including health and the environment, and even suggested allowing individuals to sell their organs for profit.

The scientific community in Argentina, home to Latin America’s third-largest economy, is deeply alarmed by the potential consequences of Milei’s presidency. The National Academy of Exact, Physical and Natural Sciences in Buenos Aires has stressed the importance of state investment in science, highlighting that leading developed countries heavily invest in scientific research as a means to drive economic development and tackle poverty.

Milei’s rise to prominence has been fueled by Argentina’s economic turmoil, with high inflation rates, escalating debt to international creditors, and significant levels of poverty. While he may currently be leading in the polls, experts remain skeptical of the figures, and his opponents are still actively campaigning to garner support.

If Milei were to become president, many fear a massive brain drain as talented researchers seek opportunities abroad. Argentina has a long history of struggling with brain drain during times of economic crises, with previous instances leading to mass emigration of scientists to Europe and the United States. While Argentina still maintains a relatively high number of researchers per capita in Latin America, the loss of these talented individuals would undoubtedly hinder the country’s scientific progress.

As the election date approaches, the fate of Argentina’s scientific community hangs in the balance. The outcome will determine not only the future of CONICET but also the country’s ability to sustain scientific advancements and retain its brightest minds. It is a critical moment for the scientific community as they await the decision that could shape Argentina’s trajectory in the years to come.

What does Milei promote in terms of healthcare and education?

Individuals to pay for their own services