Milei takes office today as president of Argentina amid economic chaos

Economist Javier Milei takes office as president of Argentina this Sunday (10), after defeating government candidate Sergio Massa in this year’s elections.

A self-described libertarian, Milei reached the Presidency with controversial proposals – some considered radical –, such as the closure of the Central Bank and the dollarization of the country’s economy.

Milei’s agenda will begin in the morning, with a visit to the National Congress, where she will take the oath and give a speech. She will also visit Casa Rosada, the seat of the Argentine government; she will participate in a reception for foreign leaders; and will end with a cocktail and gala party.

The Brazilian government will send Chancellor Mauro Vieira as a representative at the inauguration, as reported by Caio Junqueira, Policy Analyst at CNN. Luiz Inácio Lula da Silva (PT) will not be present.

In addition to Lula, President Joe Biden, of the United States, will also not be present at the event.

See the schedule for Javier Milei’s inauguration, in Brasília time:

  • 10:30 — Departure from Hotel Libertador
  • 11:00 — Arrival at the National Congress
  • 11:10 — Signature of distinguished visitors’ book
  • 11:30 — Oath in Congress and speech in the room
  • 12:00 pm – Speech to supporters outside the steps of Congress
  • 12:30 — Return to Casa Rosada in a convertible vehicle
  • 13:00 — Mass at the Cathedral
  • 13:30 — Reception of foreign leaders and other authorities
  • 17:30 — Oath of ministers
  • 18:30 — Cocktail
  • 8:00 pm – Gala party at Teatro Colón

Meeting with Jair Bolsonaro

On Friday (8), Javier Milei met with former Brazilian president Jair Bolsonaro (PL), at a hotel in Buenos Aires. Bolsonaro is expected to attend his inauguration this Sunday.

Both had a private meeting and then met with the delegation of right-wing congressmen, as revealed by Gustavo Uribe and Leandro Magalhães, anchors of the CNN.

In a video obtained by CNN, Milei said it was a source of pride to receive Bolsonaro’s visit to Buenos Aires.

See some international leaders who will attend Milei’s inauguration

  • Luis Lacalle Pou, president of Uruguay;
  • Gabriel Boric, president of Chile;
  • Santiago Peña, president of Paraguay;
  • Deniel Noboa, president of Ecuador;
  • Viktor Orbán, President of Hungary
  • Renato Florentino Pineda, Vice President of Honduras
  • King Felipe VI of Spain

Milei’s Challenges

The new head of state’s party managed to expand its base in Congress in these elections, but is still behind the movements of Sergio Massa and Patricia Bullrich.

Even with Bullrich’s support during the second round, Milei will probably have to negotiate with the Macristas to pass his controversial economic agendas in Parliament, as explained by Leandro Consentino, specialist in International Relations and professor of Political Science at Insper.

Consentino considered that, unlike Bolsonaro’s election in Brazil, for example, the Argentine will not come to power with a consolidated party base in Congress.

“Milei will have difficulty, yes, and will need to negotiate with this center-right represented by Macrismo to get his agenda approved. It is clear that he will have to, in some way, moderate his speech to reach certain resolutions and transform the agenda into actual legislation”, says the expert.

When Milei was elected, Mauricio Macri stated that the new president will need “everyone’s support, trust and patience”. Furthermore, Macri’s support was fundamental to the libertarian’s victory.

This may indicate, at least, that Javier Milei may have an initial opening with the former president’s supporters.

Leandro Consentino highlights that the biggest obstacles will be the most radical economic measures, such as the closure of the Central Bank and the dollarization of the economy.

The expert assesses that the “dynamiting” of the Central Bank, as Milei announced during the campaign, is “practically impossible to happen”, as the institution is “recognized as something important to maintain monetary policy by any countries even minimally within the political game, of the democratic game and even countries that are not necessarily democratic”.

On the other hand, the privatization agenda may have an easier time passing through the new Argentine Congress. Milei previously indicated that he wants to privatize the state oil company, airline and TV network.

Consentino warns, however, that there will be resistance from social movements and unions regarding this latest agenda, which will put “all the political load on the streets against these measures”.

Source: CNN Brasil

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