Argentina’s chainsaw-wielding, self-proclaimed “anarcho-capitalist” president who says he takes most of his political advice from his dogs has appeared to achieve what many political analysts and economists said his radical plans almost certainly wouldn’t: modest improvements to the country’s economy.
Javier Milei, 53, a former right-wing economist and television pundit whose combative style and embrace of conspiracy theories has drawn comparisons to Donald Trump, took power in December.
Five months since he was sworn in, Argentina still has one of the world’s highest annual inflation rates − a cumulative figure of 287% as of March, according to Bloomberg data − but Milei’s libertarian-laced austerity “shock” measures have translated into lower inflation rates every month for the last three months.
And when national inflation figures for April are released next week there are some indications that Argentina’s economy could see a return to a single digit monthly inflation rate for the first time since October 2023.
In his first weeks in charge, Milei made deep spending cuts to Argentina’s public sector, halted new infrastructure projects, reduced energy and transportation subsidies for residents and cut in half the number of Argentina’s federal ministries. He also devalued the nation’s peso currency by more than 50% against the U.S. dollar.
Advice from dogs:A chainsaw to the system. Javier Milei, far-right libertarian, is Argentina’s new leader
Ian Bremmer, the founder of…
