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Argentina’s New President Takes Office: Javier Milei

Manuel Beck

Senado de Argentina


Argentina’s new president Javier Milei was inaugurated on Sunday, December 10th of 2023. After winning 56% of the votes of Argentina, Milei takes on a 4 year presidency with several economic problems that have accumulated over the years. Milei's unconventional approach to politics and economics has captured the attention of both supporters and critics alike.


Milei is famously known for being an outspoken libertarian economist and a self-described “anarcho-capitalist.” His unique political rallies with chainsaws have both entertained and shocked voters. One of his most notable goals as president is to change the official currency of Argentina from the Argentine Peso to the American dollar. Facing a monthly inflation rate of 12.4%, Milei has a lot of work ahead of him to fix all of the controversial and problematic decisions that several years of a poor government caused. Milei successfully influenced societal dissatisfaction with traditional politicians while also using social media to captivate his voters. 


Yahoo Images


His presidency ends a 20 year run of “Kirchnerismo,” which is an Argentine political movement based on the ideals formed by the supporters of Néstor Kirchner and Cristina Kirchner, who both served as Presidents of Argentina. Kirchnerismo, in short, was mainly composed of center-left, anti-neoliberal policies that increased the social spending of the nation and increased protectionism. Nonetheless, the majority of people of Argentina have been fed up and are frustrated with the wasteful and corrupted government that has been reigned for several years. 


Javier Milei's appeal to the younger generation of Argentines can be attributed to the perception that his radical ideas represent a break from a pessimistic norm and offer a brighter future. The youth, disillusioned with years of economic instability and political corruption, see Milei's unorthodox approach as a departure from traditional politics and a bold departure towards change. The younger generation sees Milei as a breath of fresh air. They've grown up in times when the economy's been shaky, and the usual political games just haven't worked. Milei's way of talking about economic issues, even with a chainsaw in hand at his rallies, makes him relatable. It's not your usual politician-speak, and that's something the youth can understand and support.


Apart from the change of currency, Milei is looking to worsen political ties to Brazil and China, though maintaining commercial and strategic ties remains imperative. Milei is looking to liberalize trade, privatize state-owned companies, and pose significant cuts to government spending, taxes and the size of the state. His proposal of “dollarizing” the economy will lead to the extinction of Argentina’s Central Bank, which sparks controversy and several questions as to the future of the economy. 




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