In brief
One year into his presidency, Javier Milei of Argentina has managed to reduce inflation rates, garnering approval from both citizens and global leaders like Donald Trump. However, his drastic economic reforms have resulted in increased poverty and suffering for millions.
In Milei’s Argentina, Economic Albatross Is Tamed but Life Is Much Harder. A year after becoming president, Javier Milei has been praised inside and outside Argentina for reining in galloping inflation. But his economic policies have inflicted widespread hardship. At home and abroad, Argentina’s president, Javier Milei, is a man with plenty of fans. And not just any fans. Mr. Milei, a right-wing libertarian, may not have been an obvious choice as the first world leader to meet President-elect Donald J. Trump after his election victory. Yet there he was, at Mar-a-Lago in Florida last month, being showered with praise by Mr. Trump. “The job you’ve done is incredible,” Mr. Trump told Mr. Milei at a gala for a right-wing research institute. “You’ve done a fantastic job in a very short period of time.”Many Argentines seem to agree. A year after taking office, Mr. Milei is viewed favorably by about 56 percent of Argentines, according to a recent poll, making him one of the most popular presidents in the country’s recent history. “This is the president that God brought for the Argentines,” said Marcelo Capobianco, 54, a butcher in Buenos Aires. “He brought back hope.”While a cascade of brutal cuts to everything from soup kitchens to bus fare subsidies have pushed more than five million Argentines into poverty, they have also helped Mr. Milei make remarkable progress on a daunting task: reining in the world’s highest inflation rate. The balance between managing inflation and the welfare of the populace remains a pressing challenge for Milei.
