How is Javier Miley’s libertarian experiment going in Argentina after 100 days in office?

“There is no money,” Miley said upon taking over as president on December 10, when he promised to tackle rampant inflation, dismantle “political castes” and cut the size of the state with a “chainsaw.” did.

He invites his followers to join the “armies of heaven” and rules maniacally from social networks: ultraliberal. xavier miley ordered an accounting of argentina The political and social atmosphere became tense due to a drastic adjustment at the beginning of his administration.

“There is no money,” Miley said upon taking over as president on December 10, when he promised to tackle rampant inflation, dismantle “political castes” and cut the size of the state with a “chainsaw.” did.

One hundred days later, how is your “liberal liberal” experiment going?

chainsaw on

Immediately after taking office, Miley turned on his “chainsaw”: he suspended public works, did not renew state contracts, reduced ministries by half, freed up prices and rental contracts, and devalued the peso by more than 50%, causing inflation. From 25.5% in December it came down to 13% in February.

With devaluation and a 276% annual price increase by February, Argentine purchasing power was destroyed, especially that of retirees.

The Economist The president’s goal – to reach zero deficit this year – is even more ambitious than what he himself wants from them. International Monetary Fund (IMF)With which Argentina has maintained a credit agreement of $ 44,000 million.

In These 100 Days, Miley Rebuilds Poor Gross Stock Central bank And achieved fiscal surpluses in January and February, unprecedented since the beginning of 2011.

“There is an order,” the independent economist said. Marina dal Poggetto In a recent television interview. “Stabilization is working better than originally imagined, but there are questions about governance.”

Miley is now trying to raise a fund of 15 billion dollars International Monetary Fund and private to eliminate exchange controls in the middle of the year, which has given rise to a variety of dollars.

“People are clear that we are going through very difficult times, but they are beginning to see a way out of it,” the president told Radio La Red.

Megadecrees and failures in Congress

heart of the plan miley Deregulation of Argentina’s economy in a megadecree that repeals or modifies more than 300 regulations and a omnibus law The original version of which had more than 600 articles.

But in these three months both projects faced setbacks in Congress, where Miley’s small party is in the minority: the omnibus law failed in a deputies’ debate in February, and the megadecree was rejected in the Senate on Thursday.

These defeats show that the President failed to convey the urgency of his reforms, which he believed was appropriate given the legacy he inherited from the previous government.

“Miley would like to accelerate his political and economic project at 100 kilometers per hour, but the government is too slow,” he told AFP. carlos malamudPrincipal researcher at the Elcano Royal Institute.

Its program is now in the hands of representatives, who must review the weakened version of the omnibus law and take a final decision on the megadecree, which will remain in force unless rejected. low camera,

But even if it is passed, its constitutionality will remain under question. Political consultant Carlos Fara told AFP that “in justice, a good part of the megadecree” has been mortally wounded.

social stress

There is another side to this “order” social stress The removal of subsidies led to layoffs, price increases, and increases in public service rates.

Medicines increased by 40 percentage points more than normal inflation, causing a sharp decline in sales. This led many people to abandon long-term treatment.

“Between eating and buying medicine, people choose eating,” pharmacist Marcela Lopez told AFP. Buenos Aires,

In February, while omnibus lawThousands of people protested in front of the Congress and were repressed by the police.

They also demonstrated when food deliveries to about 40,000 community kitchens were suspended, at a time when poverty affects about 60% of the population. purpose, according to GovernmentTo audit systems and provide direct assistance.

The cuts also affected the budget universitiesState support for cinema and research in science and technology.

The president is holding his own in opinion polls, which keep his popularity near 50%, and he has accustomed Argentina to his eccentric style: He rules and accuses his opponents of betrayal on the , he quotes the Bible’s Book of Maccabees and he talks about his team as “the forces of heaven.”

Premiere in Davos

As part of the adjustment, miley He flies on commercial lines with a small crew.

Thus it had its international premiere in Davos in January, where it alarmed the world’s economic elite by warning that “the West is in danger” and criticizing social justice and “radical feminism”.

Despite this the media embraces them Donald Trump Apart from suspending Argentina’s entry into the BRIC block, Pope Francis -whom he admires- and Pope Francis -whom he has reconciled with- have hardly been a priority for Miley externally.

The exception is Israel, where the president traveled to show his closeness to the Jewish state and his spiritual interest in Judaism.

diego giacominiThe singer, who co-wrote four economics books with Miley, told the radio that his now former friend “believes he has a divine mission” which includes “transforming Argentina and bringing it back to the philosophy of Number One, which is God, liberalism, And taking it out of Satan’s philosophy, which is socialism.”

(With information from AFP)