One Year of Milei
Argentine President Javier Milei marks one year in office having implemented radical free-market reforms that have reshaped the country's economy and politics, with mixed results generating both domestic and international attention.
Key Reforms
Major policy changes:
Economic Measures
| Reform | Implementation |
|---|---|
| Devaluation | 50%+ peso drop |
| Spending cuts | Slashed subsidies |
| Ministries | Reduced from 18 to 8 |
| State employees | Thousands cut |
| Price controls | Eliminated |
Economic Results
Mixed indicators:
Positive Signs
| Metric | Change |
|---|---|
| Monthly inflation | Declining |
| Fiscal balance | Improved |
| Currency stability | Better |
| Country risk | Reduced |
Negative Indicators
| Metric | Status |
|---|---|
| Poverty | 50%+ |
| GDP | Recession |
| Employment | Job losses |
| Consumption | Collapsed |
"Chainsaw" Approach
Milei's governing style:
Characteristics
- Dramatic cuts
- Confrontational rhetoric
- Social media focus
- Veto heavy use
- Congress conflicts
Political Dynamics
Congressional challenges:
Legislative Status
| Aspect | Situation |
|---|---|
| Minority government | Yes |
| Coalition | Fragile |
| Key legislation | Mixed success |
| Vetoes | Unprecedented numbers |
Social Impact
Effects on population:
Hardship Indicators
| Area | Impact |
|---|---|
| Poverty | Dramatic increase |
| Healthcare | System strained |
| Education | Budget cuts |
| Pensions | Value eroded |
| Utilities | Prices soared |
Protests
Social mobilization:
Opposition
- Union strikes
- Student protests
- Pensioner demonstrations
- Teacher mobilization
- General discontent
International Attention
Global reaction:
External Views
| Actor | Perspective |
|---|---|
| IMF | Cautiously supportive |
| US (Trump) | Ally relationship |
| Markets | Generally positive |
| Progressive governments | Critical |
Dollarization Debate
Currency plans:
Status
| Aspect | Update |
|---|---|
| Full dollarization | Delayed |
| Parallel system | Emerging |
| Crawling peg | Current policy |
| End game | Unclear |
Libertarian Experiment
Ideological dimensions:
Policy Philosophy
- Minimal state
- Free markets
- Individual liberty
- Anti-collectivism
- Western alignment
Public Opinion
Citizen views:
Polling
| Question | Response |
|---|---|
| Approval | ~40-50% |
| Direction | Divided |
| Patience | Tested |
| Alternative | None clear |
Opposition
Political rivals:
Landscape
| Force | Status |
|---|---|
| Peronism | Fragmented |
| Kirchnerism | Discredited |
| Moderates | Positioning |
| Left | Mobilizing |
Looking Ahead
Year two expectations:
Challenges
- Sustaining reforms
- Managing poverty
- Political survival
- Economic recovery
- 2025 midterms
Argentina's experiment with radical free-market reform under Milei remains one of the world's most watched economic and political stories.
