Argentina’s Milei marks one year in office. Here's how his shock measures are reshaping the economy
When libertarian President Javier Milei assumed office one year ago, Argentine supermarkets were marking price increases almost daily
BUENOS AIRES, Argentina (AP) — When libertarian President Javier Milei assumed office one year ago, Argentine supermarkets were marking price increases on an almost daily basis. Middle-class families tried to spend their rapidly depreciating pesos as quickly as they got them, and economists warned the country was teetering on the brink of hyperinflation.
It was popular outrage over this upside-down economy that fueled the rise of Milei, a self-declared “anarcho-capitalist” and former TV pundit who rode to power on vows to “blow up” the central bank, take an axe to the bloated government and kill sky-high inflation.
It was an almost impossible job, and Milei's lack of government experience, unkempt hairdo, sexual boasts and missionary-like zeal for his dead dog, the Rolling Stones and the free market didn't inspire much confidence in a country with a history of failed economic reforms.
“It wasn’t a given that he could govern Argentina when he took office,” said Marcelo J. García, Americas director at geopolitical risk firm Horizon Engage. "He was Mr. Nobody."
