Argentina’s President, Javier Milei, rebuffs claims that everyday Argentinians bear the brunt of his radical austerity measures. Elected following years of extensive government spending and mounting debt, the right-wing economist faces criticism as inflation, although starting to decline from initial highs upon assuming office in December, remains the world’s highest annually.
Critics contend that millions of Argentinians are bearing the consequences of his austerity agenda. In his five months as president, Milei has executed cuts to public sector employment, energy and transportation subsidies, and devalued the currency, diminishing its purchasing power. During our interview at his presidential office, signs of his unconventional political journey as a celebrity TV economics commentator were evident: a Rolling Stones photograph (he was part of a tribute band), a bust of himself on his desk, a toy chainsaw model, and a water bottle adorned with his image—gifts from supporters, his team clarified.
His enthusiasm soared discussing his favorite Rolling Stones track, “Rip This Joint,” from an album he identified as having “libertarian components.” While maintaining his radical economic rhetoric as president, Milei has moderated his stance on other matters. He declined to reiterate past criticisms of China, a major trade partner, which he had labeled an “assassin” during his campaign.
Regarding economics, Milei has prioritized curbing inflation, currently at 287% annually, asserting that “inflation is the most regressive tax that burdens people.” However, many of his policies have initially spurred price hikes, exacerbating challenges for salaries and pensions lagging behind inflation. Julia, a 72-year-old retired chef surviving on a monthly pension of around US$190 (£150), epitomizes this struggle. She tearfully recounted her daily two-hour journey to sing in Buenos Aires to supplement her meager income, lamenting the suffering endured by ordinary people.