It wasn’t the most uplifting of inaugural addresses. Rather, Argentina’s newly empowered President Javier Milei presented figures to lay bare the scope of the nation’s economic “emergency,” and sought to prepare the public for a shock adjustment with drastic public spending cuts.
Quick Read
- Inaugural Address of Argentina’s President: Javier Milei, Argentina’s new President, delivered a sobering inaugural speech, highlighting the nation’s economic emergency and the need for drastic public spending cuts.
- Milei’s Urgent Call for Action: Emphasizing the lack of time for debate, Milei called for immediate action to address Argentina’s severe economic crisis.
- Argentina’s Economic Woes: The country is grappling with 143% annual inflation, a plummeting currency, widespread poverty, and significant fiscal and trade deficits, including a substantial debt to the IMF.
- Milei’s Promise for State-focused Adjustment: Promising that the private sector would largely be spared, Milei indicated that the adjustment would primarily impact the state, aiming to lay a foundation for future growth.
- Milei’s Rise to Power: Known for his anti-establishment rhetoric, Milei, an economist and television personality, quickly rose from a congressional seat to the presidency, winning over voters disillusioned with the status quo.
- Challenges from Peronist Movement: Milei is expected to face strong opposition from Peronist lawmakers and unions.
- Milei’s Inauguration Ceremony: Sworn in at the National Congress, Milei chose to address supporters outside the building, turning his back on the legislature.
- Critique of Previous Governments: Milei criticized past administrations for economic mismanagement, leading to stagflation and a decline in GDP per capita.
- Public Reaction: His speech received attentive listening and occasional cheers from a crowd waving Argentine and Gadsden flags.
- Milei’s Governance Style: Questions linger about whether Milei will govern as the radical figure from his campaign or the more moderate president-elect.
- Policy Shifts and Appointments: Milei’s appointment of Luis Caputo as economy minister and other actions indicate a potential shift from his campaign promises.
- International Diplomacy: Milei engaged with various international figures, including former U.S. President Bill Clinton and leaders from the far-right spectrum.
- Inauguration Attendees: Notable figures such as Hungarian Prime Minister Viktor Orbán and Ukrainian President Volodymyr Zelenskyy attended Milei’s inauguration.
- Meeting with Zelenskyy: Milei and Zelenskyy had a bilateral meeting, marking Zelenskyy’s first visit to Latin America amid Ukraine’s conflict with Russia.
The Associated Press has the story:
In inaugural speech, Argentina’s Javier Milei prepares nation for painful shock adjustment
Newslooks- BUENOS AIRES, Argentina (AP)
It wasn’t the most uplifting of inaugural addresses. Rather, Argentina’s newly empowered President Javier Milei presented figures to lay bare the scope of the nation’s economic “emergency,” and sought to prepare the public for a shock adjustment with drastic public spending cuts.
Milei said in his address to thousands of supporters in the capital, Buenos Aires, that the country doesn’t have time to consider other alternatives.
“We don’t have margin for sterile discussions. Our country demands action, and immediate action,” “The political class left the country at the brink of its biggest crisis in history. We don’t desire the hard decisions that will need to be made in coming weeks, but lamentably they didn’t leave us any option.”
Argentina’s newly sworn-in President Javier Milei said.
South America’s second largest economy is suffering 143% annual inflation, the currency has plunged and four in 10 Argentines are impoverished. The nation has a yawning fiscal deficit, a trade deficit of $43 billion, plus a daunting $45 billion debt to the International Monetary Fund, with $10.6 billion due to the multilateral and private creditors by April.
is Milei’s common refrain.
He repeated it Sunday to explain why a gradualist approach to the situation, which would require financing, was not an option.
But he promised the adjustment would almost entirely affect the state rather than the private sector, and that it represented the first step toward regaining prosperity. “We know that in the short term the situation will worsen, but soon we will see the fruits of our effort, having created the base for solid and sustainable growth.”
Argentina’s newly sworn-in President Javier Milei said.
Milei, a 53-yearold economist, rose to fame on television with profanity-laden tirades against what he called the political caste. He parlayed his popularity into a congressional seat and then, just as swiftly, into a presidential run. The overwhelming victory of the self-declared “anarcho-capitalist” in the August primaries sent shock waves through the political landscape and upended the race.
Argentines disillusioned with the economic status quo proved receptive to an outsider’s outlandish ideas to remedy their woes and transform the nation. He won the election’s Nov. 19 second round decisively — and sent packing the Peronist political force that dominated Argentina for decades. Still, he is likely to encounter fierce opposition from the Peronist movement’s lawmakers and the unions it controls, whose members have said they refuse to lose wages.
Earlier on Sunday, Milei was sworn in inside the National Congress building, and outgoing President Alberto Fernández placed the presidential sash upon him. Some of the assembled lawmakers chanted “Liberty!”
Afterward, he broke tradition by delivering his inaugural address not to assembled lawmakers but to his supporters gathered outside — with his back turned to the legislature. He blamed the outgoing government for putting Argentina on the path toward hyperinflation while the economy stagnated, saying the political class “has ruined our lives.”
“In the last 12 years, GDP per capita fell 15% in a context in which we accumulated 5,000% inflation. As such, for more than a decade we have lived in stagflation. This is the last rough patch before starting the reconstruction of Argentina,” he said. “It won’t be easy; 100 years of failure aren’t undone in a day. But it begins in a day, and today is that day.”
Given the general bleakness of Milei’s message, the crowd listened attentively and cheered only occasionally. Many waved Argentine flags and, to a lesser extent, the yellow Gadsden flag that is often associated with the U.S. libertarian right and which Milei and his supporters have adopted.
“Economically, we are just like every Argentine, trying to make it to the end of the month,” said Wenceslao Aguirre, one of Milei’s supporters. “It’s been a very complicated situation. We hope this will change once and for all.”
As Milei takes office, the nation wonders which version of him will govern: the chainsaw-wielding, anti-establishment crusader from the campaign trail, or the more moderate president-elect who emerged in recent weeks.
As a candidate, Milei pledged to purge the political establishment of corruption, eliminate the Central Bank he has accused of printing money and fueling inflation, and replace the rapidly depreciating peso with the U.S. dollar.
But after winning, he tapped Luis Caputo, a former Central Bank president, to be his economy minister and one of Caputo’s allies to helm the bank, appearing to have put his much-touted plans for dollarization on hold.
Milei had cast himself as a willing warrior against the creep of global socialism, much like former U.S. President Donald Trump, whom he openly admires. But when Milei traveled to the U.S. last week, he didn’t visit Mar-a-Lago; rather, he took lunch with another former U.S. leader, Bill Clinton.
He also dispatched a diplomat with a long history of work in climate negotiations to the ongoing COP28 conference in Dubai, Argentine newspaper La Nacion reported, despite having insistently rejected humanity’s involvement in global warming. And he backtracked on plans to scrap the nation’s health ministry.
And during his inaugural address, he directed some comments to the political class, saying that he has no intention to “persecute anyone or settle old vendettas,” and that any politician or union leader who wants to support his project will be “received with open arms.”
His moderation may stem from pragmatism, given the scope of the immense challenge before him, his political inexperience and need to sew up alliances with other parties to implement his agenda in Congress, where his party is a distant third in number of seats held.
He chose Patricia Bullrich, a longtime politician and first-round adversary from the coalition with the second most seats, to be his security minister, as well as her running mate, Luis Petri, as his defense minister.
Still, there are signs that Milei has not given up his radical plans to dismantle the state. Already he has said he will eliminate multiple ministries, including those of culture, environment, women, and science and technology. He wants to meld the ministries of social development, labor and education together under a single ministry of human capital.
Following his inaugural address, Milei traveled in a convertible to the presidential palace. Later on Sunday he is scheduled to swear in his ministers and meet with foreign dignitaries.
Prominent far-right figures will be among them: Hungarian Prime Minister Viktor Orbán; the head of Spain’s Vox party, Santiago Abascal; former Brazilian President Jair Bolsonaro and Bolsonaro-allied lawmakers, including his son.
Milei reportedly sent a letter inviting Brazil’s current president, Luiz Inácio Lula da Silva, after calling the leftist “obviously” corrupt last month during a televised interview and asserting that, if he became president, the two would not meet.
Lula dispatched his foreign minister to attend Milei’s inauguration.
Also joining was Ukrainian President Volodymyr Zelenskyy, who made his first visit to Latin America as Kyiv continues to court support among developing nations for its 21-month-old fight against Russia’s invading forces. Zelenskyy and Milei shared a close exchange just before the inaugural address and held a bilateral meeting later in the day.
Ukraine’s Zelenskyy visits Argentina in a bid to win support from developing nations
Quick Read
- Zelenskyy’s Visit to Argentina: Ukrainian President Volodymyr Zelenskyy attended the inauguration of Argentina’s new president, Javier Milei, marking his first official trip to Latin America.
- Support for Ukraine’s Fight Against Russia: The visit is part of Ukraine’s effort to garner support among developing nations in its ongoing conflict with Russia.
- Upcoming Meeting with Biden: Zelenskyy is scheduled to meet U.S. President Joe Biden in Washington to discuss continued support for Ukraine.
- Biden’s Funding Request for Ukraine: The U.S. President has requested Congress for significant wartime funding for Ukraine, entangled in debates over U.S. immigration policy.
- Focus of Washington Visit: The meeting aims to ensure global unity in backing Ukraine against Russian aggression.
- Milei and Zelenskyy’s Interaction: In Argentina, Milei greeted Zelenskyy warmly and presented him with a menorah, symbolizing a shared commitment to fighting against domination.
- Milei’s Pro-Western Stance: Milei, known for his anti-corruption and anti-establishment views, has shown distrust towards Moscow and Beijing, aligning with Western policies.
- Zelenskyy’s Diplomatic Efforts: He has been actively engaging with leaders of various nations, including Cape Verde, Paraguay, Ecuador, and Uruguay, to strengthen Ukraine’s global ties.
- Zelenskyy’s Appeal to Developing Countries: Ukraine’s conflict is framed as a fight against colonial aggression, resonating with nations that have historically faced foreign control.
- Defense Discussions with Macron: Zelenskyy discussed defense aid from France with President Emmanuel Macron, aiming to enhance Ukraine’s military capabilities.
- Casualties from Russian Shelling: Recent Russian attacks have resulted in civilian casualties in Ukraine’s Kharkiv and Kherson regions.
The Associated Press has the story
Ukraine’s Zelenskyy visits Argentina in a bid to win support from developing nations
Newslooks- KYIV, Ukraine (AP)
Ukrainian President Volodymyr Zelenskyy witnessed the swearing-in of Argentina’s new president, Javier Milei.
It was the Ukrainian leader’s first official trip to Latin America as Kyiv continues to court support among developing nations for its 21-month-old fight against Russia’s invading forces.
During Zelenskyy’s visit to Buenos Aires, his office and the White House announced he would travel to Washington to meet with President Joe Biden on Tuesday.
Biden has asked Congress for a $110 billion ($61.4 billion) package of wartime funding for Ukraine and Israel, along with other national security priorities. But the request is caught up in a debate over U.S. immigration policy and border security.
The visit to Washington would focus on “ensuring the unity of the U.S., Europe and the world” in supporting Ukraine in the war against Russia, Zelenskyy’s office said.
In Argentina, Milei welcomed Zelenskyy at the presidential palace after his inauguration. The two shared an extended hug, exchanged words and then Milei, who has said he intends to convert to Judaism, presented his Ukrainian counterpart with a menorah as a gift. They were expected to have a longer one-on-one meeting later on Sunday.
A political outsider who has railed against what he calls entrenched official corruption in Argentina and promised to uproot the political establishment, Milei ran on a pro-Western foreign policy platform, repeatedly expressing distrust of Moscow and Beijing.
Zelenskyy phoned Milei shortly after the Argentine’s electoral victory last month, thanking him for his “clear support for Ukraine.” In its readout of the call, Milei’s office said he had offered to host a summit between Ukraine and Latin American states, a potential boon to Kyiv’s monthslong effort to strengthen its relationships with countries of the global south.
Zelenskyy and other senior Ukrainian officials have repeatedly presented Ukraine’s war against Russia as resistance against colonial aggression, hoping to win support from Asian, African and Latin American states that in the past struggled to free themselves from foreign domination, sometimes turning to Moscow for support against Western powers.
Zelenskyy used the trip to Argentina to meet leaders of several developing countries. He met the prime minister of the West African country of Cape Verde, Ulisses Correia e Silva, on his way to Buenos Aires. Once in Argentina, Zelenskyy met separately with the presidents of Paraguay, Ecuador and Uruguay, his office said.
“The support and strong united voice of Latin American countries that stand with the people of Ukraine in the war for our freedom and democracy is very important for us.”
Zelenskyy said in a statement.
He also had a phone conversation with French President Emmanuel Macron, discussing “the details of the next defense package from the French Republic, which will significantly enhance Ukraine’s firepower, and the current needs of our country in armaments,” Zelenskyy’s office said.
In other developments:
— Russian shelling over the past 24 hours killed two elderly women and wounded two more civilians in Ukraine’s northeastern Kharkiv region, local Gov. Oleh Syniehubov reported on Sunday morning. In a Telegram update, Syniehubov said that both women died in the same attack in the province’s east, parts of which run close to the front line and have seen intense fighting in recent weeks.
In the Kherson region in the south, Russian shelling on Saturday and overnight killed one civilian and wounded four others, local Gov. Oleksandr Prokudin said on Telegram on Sunday.
