Libertarian populist Javier Milei was sworn in as President of Argentina on Sunday, immediately following through on his “chainsaw strategy” to dramatically downsize the country’s government.
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In his inaugural address to the Argentinian people, Milei laid bare his plan for “immediate action” to solve the national economic crisis, warning citizens that eminent public spending cuts will likely make things more difficult in the short term.
“We don’t have margin for sterile discussions. Our country demands action, and immediate action,” President Milei told thousands of supporters outside the National Congress building in Buenos Aires. “The political class left the country at the brink of its biggest crisis in history. We don’t desire the hard decisions that will need to be made in the coming weeks, but lamentably they didn’t leave us any option.”
Symbolic of his rejection of the political class, Milei broke with tradition and delivered his inaugural speech directly to the people, with his back turned to lawmakers inside the capitol.
Javier Milei, a 53-year-old rock musician turned economist, built his anti-establishment campaign on a platform of economic reform and government accountability, primarily focused on reducing inflation. Under the seven-decade tenure of the Peronist government, Argentina, the second-largest economy in South America, suffered inflation rates as high as 3,000 percent in 1989 and currently has a pending $45 billion debt to the International Monetary Fund. Inflation has held at a comparatively lower 140 percent in 2023, and 40 percent of Argentina’s 45 million citizens live in poverty.
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In keeping with his frequent declaration that “There’s no money,” the new president explained why a gradual approach to resolving the economic crisis is simply impossible.
“We know that in the short term the situation will worsen, but soon we will see the fruits of our effort, having created the base for solid and sustainable growth,” he said, stressing that adjustments will be limited to the state without touching the private sector.
“This is the last rough patch before starting the reconstruction of Argentina,” Milei continued. “It won’t be easy; 100 years of failure aren’t undone in a day. But it begins in a day, and today is that day.”
After delivering his speech, Milei immediately set to work following through on his “Afuera!” plan to reduce the size of the Argentine government, reportedly eliminating 12 of the 21 federal ministries.
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