Javier Milei implements shock therapy in Argentina
His government plans to cut spending by 3% of GDP. Will society tolerate it?
When Javier Milei was sworn in as Argentina’s president on December 10th he told the assembled crowd: “There is no alternative to austerity.” Instead of rosy promises, he warned that tough times lay ahead. Announcing austerity upon taking office is usually political suicide in Argentina. Yet Mr Milei’s sombre message was received with cheers. Fans raised chainsaws into the air, in reference to his promise to cut down the size of the state.
Explore more
This article appeared in the The Americas section of the print edition under the headline “The whirr of the chainsaw”
From the December 16th 2023 edition
Discover stories from this section and more in the list of contents
Explore the editionMore from The Americas
Does made in Mexico mean made by China?
Donald Trump believes Mexico is a trojan horse for Chinese mercantilism
Failure to prepare for climate change is costing Honduras dear
Weeks after the most recent storm, the country is still in emergency mode
Venezuela’s Nicolás Maduro looks set to take the throne
Relying on a fabricated election victory, the incumbent will be sworn in again
Why Spanish firms have cooled towards Latin America
Slow growth and messy politics are largely to blame
Latin Americans are worryingly relaxed about authoritarianism
The Latinobarómetro poll shows a region that is happier with its democracies, but at ease with illiberalism
A crushing blow for the Justin Trudeau show
His most powerful minister, Chrystia Freeland, quits