Javier Milei implements shock therapy in Argentina
His government plans to cut spending by 3% of GDP. Will society tolerate it?
When Javier Milei was sworn in as Argentina’s president on December 10th he told the assembled crowd: “There is no alternative to austerity.” Instead of rosy promises, he warned that tough times lay ahead. Announcing austerity upon taking office is usually political suicide in Argentina. Yet Mr Milei’s sombre message was received with cheers. Fans raised chainsaws into the air, in reference to his promise to cut down the size of the state.
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This article appeared in the The Americas section of the print edition under the headline “The whirr of the chainsaw”
From the December 16th 2023 edition
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