Under siege: Argentina's president drops his chainsaw -Then #Trump give him $20B in credit!!

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Argentina's President Javier Milei waves next to his sister, Secretary General of the Presidency Karina Milei



Under siege: Argentina’s president drops his chainsaw

The self-proclaimed ‘first anarcho-capitalist president in world history’ faces mounting troubles

By The Week UK published yesterday

For a few months, our president was “the ‘golden boy’ of global politics”, said Agustino Fontevecchia in the Buenos Aires Times. An eccentric former TV pundit and devotee of the free market who owns five cloned dogs named after monetarist economists, Javier Milei is beloved by right-wingers for taking a “chainsaw” to government spending and regulation.

Scenting blood

Elon Musk has lauded him as a “beacon of hope”; Kemi Badenoch has held him up as the “template” for all conservative leaders. And for a while, his highly controversial economic blueprint “appeared to be working”: since his election in 2023, Argentina’s inflation has dropped from 211% to 43%, and in January, the country posted a fiscal surplus for the first time in 14 years.

But now “the first anarcho-capitalist president in world history”, as he proclaims himself to be, is “under siege”. His administration has been embroiled in an explosive corruption scandal involving his sister; and early last month, his party, Liberty Advances, suffered a shock defeat in local elections in Buenos Aires. The markets then went haywire – forcing the central bank to spend $1 billion propping up the peso. The Peronist opposition is now scenting blood.

Cue Donald Trump, said Claudio Jacquelin in La Nación (Buenos Aires). Last week his administration stepped in with a “game-changer” – $20 billion in emergency credit to get Milei through the next few months. It’s an “extraordinary” payment for what are essentially junk bonds, said The Economist. Trump is offering this lifeline solely because he doesn’t want his libertarian pal’s wild economic project to fail. Uncle Sam is now “underwriting Milei’s laboratory”...............