Summary
Javier Milei, the President of Argentina, has implemented economic changes inspired by conservative policies, aiming to reduce state expenses. While his measures led to a fiscal surplus and lower inflation, they also triggered protests and concerns about their impact on public services and job security. President Donald Trump has praised Milei's approach, and they are scheduled to meet in Washington.
Key Facts
- Javier Milei is the President of Argentina, elected in December 2023.
- Argentina faced high inflation and debt issues, with inflation reaching 211% annually in 2023.
- Milei's economic reforms resulted in Argentina's first fiscal surplus in 14 years and reduced inflation to about 36%.
- President Donald Trump has expressed admiration for Milei's policies and plans to meet him.
- Milei's changes have triggered protests due to perceived negative effects on pensioners and public services.
- Critics claim that Milei's policies might lead to a recession and job losses.
- Some investors regained confidence in Argentina due to Milei's reforms, backed by an IMF-supported currency swap with Washington.
- Upcoming midterm elections are seen as a test of public support for Milei's economic approach.
