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Javier Milei's Economic Balancing Act in Argentina

A year into Milei’s presidency, inflation is down but hardships have risen.

By Daniel Politi, Lucía Cholakian Herrera and Ana IonovaSource: nytimes.com1 min read
Javier Milei's Economic Balancing Act in Argentina
Image via nytimes.com

In brief

Argentina’s leader faces mixed reactions as he slashes spending to fight inflation.

In the spotlight of global politics, Argentina's President Javier Milei is both celebrated and criticized for his radical economic choices. Since his swearing-in, he has tamed some of the most severe inflation rates worldwide. Recent polls show that he enjoys a favorability rating of 56%, placing him among Argentina's top modern leaders.Milei's right-wing approach has garnered attention internationally, notably for his recent meeting with former President Donald Trump, who praised his swift actions. While some Argentinians herald him as a savior—like butcher Marcelo Capobianco, who feels "hope" has returned—many are grappling with the fallout from Milei's drastic austerity measures. These sweeping cuts to social programs have pushed over five million Argentinians into poverty, highlighting the stark reality of balancing fiscal responsibility with citizens' welfare. As Argentina walks a tightrope between economic recovery and social stability, the future remains uncertain.

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