Argentinian President Javier Milei was sworn into office on Dec. 10, 2023, after winning an election run on rhetoric that drew comparisons to former U.S. President Trump
Argentina’s newly elected president, Javier Milei, a self-described anarcho-capitalist whose sensational rhetoric drew comparisons to former U.S. President Donald Trump, was sworn into office on Sunday
During his inaugural address, Milei reportedly spoke about the nation’s economic emergency and sought to prepare the public for a major adjustment to public spending cuts.
„We don’t have alternatives and we don’t have time. We don’t have margin for sterile discussions. Our country demands action, and immediate action. The political class left the country at the brink of its biggest crisis in history,“ he said to thousands of supporters in the capital, Buenos Aires, according to the Associated Press. „We don’t desire the hard decisions that will be need to be made in coming weeks, but lamentably they didn’t leave us any option.“
Argentina has South America’s second-largest economy, but it is suffering 143% annual inflation, causing the country’s currency to plummet.
The country also has a trade deficit of $43 billion as well as $45 billion in debt to the International Monetary Fund, with $10.6 billion due to private and multilateral creditors by April.
