Javier Milei

Javier Gerardo Milei (born 22 October 1970) is an Argentine politician and economist who has served as President of Argentina since 2023. Milei also served as a national deputy representing the City of Buenos Aires for the party La Libertad Avanza from 2021 until his resignation in 2023.

Born in Buenos Aires, he attended the University of Belgrano, where he obtained a degree in economics, and later obtained two master's degrees from both the Institute of Social and Economic Development and the private Torcuato di Tella University, respectively. Milei later became a professor of macroeconomics. He rose to public prominence in the 2010s by appearing as a pundit in various Argentine television programs, in which he was a vocal critic of the Argentine political establishment.

In the 2021 legislative election, Milei was elected to the Argentine Chamber of Deputies, representing the City of Buenos Aires for La Libertad Avanza. As a national deputy, he limited his legislative activities to voting, focusing instead on critiquing what he saw as Argentina's political elite and its propensity for high government spending. Milei pledged not to raise taxes and donated his national deputy salary through a monthly raffle. He defeated the incumbent economy minister, Sergio Massa, in the second round of the 2023 presidential election, on a platform that held the ideological dominance of Kirchnerism responsible for the ongoing Argentine monetary crisis.

Milei is known for his flamboyant personality, distinctive personal style, and strong media presence, including using his catchphrase "''¡Viva la libertad, carajo!''". He has been described politically as a right-wing populist and right-wing libertarian who supports ''laissez-faire'' economics, aligning specifically with minarchist and anarcho-capitalist principles. Milei has proposed a comprehensive overhaul of the country's fiscal and structural policies. On social issues, he opposes abortion and euthanasia and supports civilian ownership of firearms. He also supports freedom of choice on drug policy and sex work. In foreign policy, he advocates closer relations with the United States and Israel.

Early life and education

Javier Gerardo Milei was born on 22 October 1970 in Palermo, Buenos Aires, to Norberto Milei and Alicia Lucich. He grew up in the neighborhood of Villa Devoto and later moved to the Sáenz Peña district. Alicia worked as a homemaker, and Norberto was a bus driver who later became a successful businessman.

Milei is of paternal Italian descent, tracing his heritage to the municipalities of Cosenza and Rossano in the Calabria region of Southern Italy. His paternal grandfather, Francesco "Ciccio" Milei, migrated to Argentina from Calabria in 1926. On his maternal side, he is of Croatian and Italian descent; his mother's Italian ancestors came from the municipality of San Severino in the Marche region of Central Italy. Through his Croatian maternal grandfather, Nicolás Mariano Lucich Bosikovic, he is related to Uruguayan television presenter , who stated their ancestors migrated from Croatia and settled throughout Argentina and Uruguay.

Furthermore, Milei revealed in 2024 that his grandfather, a great influence in his life, discovered that he was a Jew from matrilineal descent shortly before his death. His grandfather's maternal grandfather had been a rabbi. His parents, according to Milei, beat and verbally abused him. When he moved out as an early adult, he did not speak to them for a decade. By 2018, he stopped talking to his parents entirely and disowned them; he regarded them as dead. Milei has said that his parental abuse contributed to his ability to handle adversity today, stating that "this was a great experience for me." He was supported by his maternal grandmother and his younger sister Karina, with whom he shares a close bond and whom he calls "the boss".

Javier Milei attended Catholic schools, including the Cardenal Copello secondary school. At school, he was nicknamed ''el Loco'' ("the Madman") for his outbursts and aggressive rhetoric. In his late teens and early adulthood, Milei sang in the cover band Everest, which mostly played Rolling Stones covers. He also played goalkeeper for the Chacarita Juniors football team until 1989, when Argentina suffered from hyperinflation, and he committed to a career in economics.

The collapse of Argentina's exchange rate led to Milei becoming interested in economics during the early 1980s. Milei studied introductory economics and the law of supply and demand, which he thought seemed at odds with the ongoing hyperinflation; he said he saw people "throwing themselves on top of the merchandise" in a supermarket and began to study economics in more detail to understand it. Milei obtained an economics degree ('' licentiate'') from the private University of Belgrano and two master's degrees from the and the private Torcuato di Tella University.

Economics career

For over 20 years, Milei was a professor of macroeconomics, the economics of growth, microeconomics, and mathematics for economists. He specializes in economic growth and has taught several economic subjects in Argentine universities and abroad. He had written more than 50 academic papers by 2016.

By 2016, Milei had been the chief economist at Máxima AFJP, a private pension company; a head economist at Estudio Broda, a financial advising company; head economist of Corporación América; and a government consultant at the International Centre for Settlement of Investment Disputes. He was also a senior economist at HSBC Argentina. He served as chief economist at several national and international government public bodies. Since 2012, Milei has led the Economic Studies division at Fundación Acordar, a national think tank. He is also a member of the B20 and a member of the Economic Policy Group of the International Chamber of Commerce, an advisor to the G20. For 15 years, he worked at the private company Corporación América as the chief economist and financial adviser to Eduardo Eurnekian.

Milei is the author of several books, including '' El camino del libertario''. He has a notable presence on television, with a 2018 ranking by Ejes showing him as the most interviewed economist on TV, at 235 interviews and 193,347 seconds. Milei also hosted his own radio show, ''Demoliendo mitos'' (''Demolishing Myths''), featuring regular appearances by Alberdian and right-wing libertarian personalities, including the economist and businessman Gustavo Lazzari, the lawyer Pablo Torres Barthe, and the political scientist María Zaldívar.

Early political career

Rise to prominence

During the 2010s, Milei achieved significant notoriety and public exposure in debates featured on Argentine television programmes characterized by insults to his rivals, foul language, and aggressive rhetoric when expressing and debating his ideals and beliefs, such as one with Buenos Aires chief of government Horacio Rodríguez Larreta. This led many commentators to label him antipolitical or disruptive. Ted Cruz, a United States senator, shared an interview between Viviana Canosa and Milei on Twitter, jokingly proposing to invite him to the 2024 Republican Party presidential debates.

In February 2017, Milei considered Domingo Cavallo the best minister of the economy of Argentina because he had ended the 1989 hyperinflation and started reforms in the state. He blamed the 2001 crisis on the mistakes of the previous ministers of the economy - mistakes that Cavallo could not fix in time. In November 2017, he caused a stir by declaring that "the main producer of Argentina's economists is a Marxist indoctrination center", referring to the Faculty of Economic Sciences, University of Buenos Aires, leading to what he called "the ubiquitous proliferation of Keynesian brutes".

On 26 June 2018, Milei called journalist Teresita Frías a ''burro'' (literally "donkey", meaning "ignorant" or "uneducated" in Argentine slang) after she criticized his ideological views as totalitarian. As he refused to apologize, Milei was accused of exerting gender violence, and a local court mandated a psychological examination. Family and Gender Violence court judge Carmelo Paz forbade him from participating in public gatherings as a panelist or lecturer within the boundaries of the city of Metán, under the threat of legal action. In 2018, he made his acting debut in his play ''El consultorio de Milei'' with Claudio Rico and Diego Sucalesca. In 2019, '' Noticias'' named him one of the most influential people in Argentina. In 2020, he spoke in favor of protests against Alberto Fernández's government.

2021 legislative campaign

From 2020 to 2021, Milei was a member of Avanza Libertad (Advance, Freedom), a political party founded by José Luis Espert. During his campaign for the Argentine Chamber of Deputies, Milei focused on Buenos Aires neighborhoods, where he took strolls and had talks with ordinary people. He pledged not to support any tax increases or new taxes. He ran under the slogan "I didn't come here to lead lambs, but to awaken lions", denouncing what he saw as a political caste, which he said was composed of "useless, parasitic politicians who have never worked". He called politicians "rats" and said they form "a parasitic caste" that thinks only about getting rich. He used phrases like "I'm here to kick these criminals out" and was especially supported by youth; he promoted his political views on television, radio, and YouTube. Additionally, Milei reconciled with his parents.

In July 2021, Milei established the coalition La Libertad Avanza (Freedom Advances), which secured third place in primary elections with 13.66 percent of the vote and third in the 2021 Argentine legislative election with 17 percent, and the libertarian coalition entered the Argentine Congress. They performed best in Córdoba and Santa Fe, the second- and third-most populated districts in the country. They performed well in Peronist strongholds in North Tucumán, Salta, La Rioja, San Juan, and Santa Cruz in Patagonia, which is considered the cradle of Kirchnerism.

National deputyship

Upon assuming office as a deputy, Milei fulfilled one of his campaign promises by raffling off his salary to a random person each month, aiming to "return money to the citizens". He described this monthly raffle, which is open to anyone, as a way to get rid of what he considered dirty money, saying: "The state is a criminal organization that finances itself through taxes levied on people by force. We are returning the money that the political caste stole". His monthly raffle for his salary has given away more than seven million pesos since his parliamentary election. As a national deputy, as of April 2023, Milei had been present in the chamber 52 percent of the time. As of August 2023, he had not proposed any laws or joined any parliamentary commissions. One of his absences was particularly criticized by the Juntos por el Cambio opposition because it allowed the national government to raise taxes on plane tickets by a single vote.

In July 2023, Milei faced an investigation into the alleged selling of candidacies within La Libertad Avanza. Businessman Juan Carlos Blumberg said that the coalition "made politics a business", which prompted Milei to deny that there were paid candidates. Milei was also accused of having been funded and supported by Peronism. Journalist Juan Luis González said that Milei "allowed himself to be financed by provincial governments, received technical, logistical, and monetary aid from the Peronism that he claims to fight, threatened all those who wanted to open their mouths". Statements by the prosecutor, Ramiro González, did not provide concrete data about the allegations. As of July 2023, while the investigation was still progressing, Milei dismissed it as a political operation to discredit him and demanded that Ramiro González be investigated, accusing him of damaging his image. The case was closed in March 2024, as the prosecutor could not find enough evidence to make a formal accusation.

Coinx World promotion

On 18 December 2021, Javier Milei promoted Coinx World on his Instagram account after touring their offices in Buenos Aires. “I had the pleasure of visiting Coinx's offices and meeting their team. They are revolutionizing the way people invest to help Argentines escape inflation. Starting now, you can simulate your investment in Argentine pesos, US dollars, or cryptocurrencies and earn a profit. Reach out to them on my behalf so they can give you the best advice!” he stated. Coinx World used Milei's visit to promote its financial services on social media and claimed to be the first Latin American fintech using high-performance algorithmic trading. Commenting on why they approached Javier Milei, Coinx World stated that the meeting with Milei was a “consultation on communication matters”. They also stated that their investments were backed by the legislation of El Salvador, where the company is headquartered.

Financial experts warned that CoinX's claims were unsustainable and compared its operation to a Ponzi scheme. At that time, neither Javier Milei was registered in Argentina's National Securities Commission to make invitations to the public to invest nor did Coinx World had the authorization to operate in the public offering, which led the National Securities Commission to declare it as an irregular public offering in 2022.

In an interview with journalist Ernesto Tenembaum, in June 2022, Javier Milei claimed that he was paid for that public support just like he is paid for “all his opinions,” and that the company “did not scam anyone.” He explained in that interview, that Coinx World “took money and used it to buy securities in US dollars. With the devaluation that occurred, they were able to pay significantly higher interest rates in Argentine pesos than those offered by Argentina's Central Bank, which allowed them to secure funding to invest in their crypto farms where they generated cryptocurrencies and had more money. The business model was well-structured.” Milei could not explain why he encouraged his followers to invest in Coinx World and did not apologize to the victims when asked to do so.

Javier Milei also defended the fintech on social media when some followers pointed out it could be a Pyramid scheme. “Coinx paid everyone”, he said. “Do not let yourselves be fooled by the paid hitmen of Juntos por el Cambio.”

In 2023, Coinx World was shut down by regulators after a criminal investigation for allegedly operating as a Ponzi scheme. Police raids were conducted on its offices in Buenos Aires and Santa Fe with four employees, including its CEO, being arrested. Investors, the majority of whom followed Javier Milei on social media, sued him for losses estimated between and (approximately at the time). According to its website, Coinx World operated in Argentina, Brazil, and El Salvador.

2023 Argentine general election

2023 presidential campaign

A member of the Libertarian Party, Milei ran for president of Argentina as part of La Libertad Avanza, a right-wing political coalition. His running mate was Victoria Villarruel. His younger sister, Karina Milei, managed his campaign. In May 2022, Milei was rising in the polls. In June 2022, he officially launched his presidential campaign. In March 2023, a poll showed that 17 percent of Argentines would vote for him and that his political coalition would become the third parliamentary force in the Argentine Congress. His rhetoric was attractive to under-30 voters born during the 1998–2002 Argentine great depression and facing the still ongoing economic stagnation. His supporters include those who once voted for Kirchnerism but would now vote for Milei as a protest even if they did not support his economic ideas. Lucas Romero, the head of Synopsis, a local political consulting firm and Andrei Roman, CEO of Brazil-based pollster Atlas Intel believe that Javier Milei's victory in the 2023 elections was not necessarily a result of popular approval of his ideas but rather stemmed from widespread dissatisfaction with the political establishment, which had been strongly left-wing in its economic approach. The people thus wanted change.

As annual inflation rose above 100 percent in May 2023, Milei's position in the polls rose. In June 2023, the markets welcomed Sergio Massa's presidential candidacy, as it polarized the election between the ruling party and Juntos por el Cambio, reducing the "Milei factor". Notable moments in Milei's campaign included a viral video of him tearing cards from a wallboard with the names of ministries that he wants to abolish and tossing them into the air as he said ''afuera'' ("out"), wielding a chainsaw on stage, smashing a piñata on air to symbolize his plans, calling Pope Francis "a filthy leftist", and praising American gangster Al Capone as "a hero".

Primary and general elections

In the August 2023 primary elections, which are seen as an indication of how citizens are likely to vote in the October 2023 general election, Milei emerged as the leading candidate, with 30 percent of the vote, ahead of the traditional Peronism–Kirchnerism and Macrism that dominated the country in the 2010s. Milei's victory was celebrated by right-wing figures, including Jair Bolsonaro, José Antonio Kast, Ted Cruz, and the Spanish conservative political party Vox. Polls had predicted that Massa would secure the most votes as a candidate in the primaries, with Juntos por el Cambio expected to be the most supported coalition overall; Milei polled at about 20 percent and was seen as an outsider candidate. Initially, for the first round of the general election, with the possibility of a runoff in November, Peronists saw Milei as a possible ally who would divide the votes of the ''Juntos por el Cambio'' coalition.

As a result of his strong performance in the primaries, Milei was considered the front-runner in the general election. His rise has been placed within the context of the last two presidencies of Mauricio Macri and Alberto Fernández. On 22 October, Milei advanced to the runoff, facing Massa in what polls showed as a tight race. In the runoff on 19 November, Milei defeated Massa in a landslide and a historic election. It was the highest vote percentage since Argentina's transition to democracy. Observers generally saw Milei's win as a sign more of discontent with the ''status quo'' than support for his politics, and his victory was likened to Donald Trump's in the United States and Jair Bolsonaro's in Brazil. Within the Argentine Congress, Milei's coalition achieved about 20% in the Chamber of Deputies and 10% in the Senate. In his victory speech, Milei pledged a new political era, vowing to begin "the reconstruction of Argentina" and end its economic decline.

Presidency (2023–present)

Early actions

Milei took office as president on 10 December 2023, amidst a lack of support in Congress, an annual inflation rate approaching 200%, rising poverty, and a polarized population as challenges for his presidency. His foreign minister, Diana Mondino, announced that Argentina would not join the BRICS bloc of developing economies, as had been planned for 2024. In his first speech as president, Milei warned of an economic shock, described as shock therapy in monetary terms, to be used to fix Argentina's financial woes. Following his inauguration, Milei saw his popularity rise. After the first governmental and economic reforms he and his ministers made, 53% of the Argentine people had a good or excellent opinion of him, according to a poll by Aresco on 15 December.

Milei's cabinet includes ministers from La Libertad Avanza and Juntos por el Cambio. In his first acts as president, Milei signed 13 decrees related to his cabinet members. He also lowered the number of ministries from 18 to 9. He appointed three secretariats with portfolio rank, including his sister, to the position of General Secretary of the Presidency, after modifying the anti-nepotism law prohibiting the appointment of family members.

Milei signed Decree 70/2023, deregulating the Argentine economy. Since such a move is subject to approval by Congress, it called for an extraordinary session, to be held in the first months of 2024. As part of the measure, an estimated 5,000 public sector employees will be affected. An Argentine court halted the labor reforms that were part of the decree. The CGT also organized a general strike against the proposed policies involving tens of thousands of Argentine workers on a 12-hour strike, which resulted in the cancellation of hundreds of flights.

In March 2024, Argentina submitted a complaint against Venezuela to the International Civil Aviation Organization claiming it had violated the Convention on International Civil Aviation. Venezuelan President Nicolás Maduro banned Argentine aircraft from its airspace earlier amid traded accusations with Milei. That month, Milei approved the transfer of two military Mi-171E helicopters to Ukraine, which it later received. On 18 April, Argentina formally submitted a request to become a NATO global partner. Meanwhile, various anti-government protests took place from January to June over e.g. not increasing university funds and cuts to subsidies and social programmes. These protests occurred in the context of broad, general approval according to a poll published by Clarín on 7 June 2024, where most Argentines had a positive image of their president and an optimistic view of future economic measures. Under his watch, Argentina exited deficit for the first time in 123 years. In a speech given to the World Economic Forum, Milei encouraged a worldwide push for libertarianism, claiming Argentina's was successful example. He also attacked feminism calling it a "distortion."

In 2024, legal scholar Manuel García-Mansilla was nominated to fill the vacancy left by Minister Juan Carlos Maqueda and Ariel Lijo was nominated to fill the vacancy left by Elena Highton de Nolasco to the Supreme Court by Milei. On 26 February 2025, Milei appointed both of them by presidential decrees after they failed to obtain clearance in the senate. Some lawmakers questioned Lijo's fitness to serve on the court over corruption concerns, and Human Rights Watch called Milei's appointments "one of the most serious attacks against the independence of the Supreme Court in Argentina since the return of democracy." On 4 April 2025 both were rejected by the Senate, with Mansilla receiving 51 votes against and 21 in favor and Lijo receiving 43 votes against and 27 in favour, in what was branded as a tactical alliance between UP and PRO. The primary reason was the majority of senators disapproval of appointment by decree to the Supreme Court which was described as a political defeat for Milei.

In May 2025, Milei signed a decree to tighten immigration laws in Argentina. Milei said that immigrants were bringing "chaos and abuse" to Argentina and ordered that the path to citizenship be stricted, with foreign nationals having to reside two years without interruption in Argentina and show proof of income or "sufficient means", plus a clean criminal record in their home countries. Presidential spokesman Manuel Adorni said that Milei's decree "honors history to Make Argentina Great Again", as the opposition likened Milei's move to Trump's similar immigration policies in the US.

On May 18, 2025, local elections were held in the capital of Argentina, Buenos Aires. Manuel Adorni, Milei's top presidential spokesman, attained victory with 30% of the votes, a larger margin than anticipated; while the center right opposition, PRO suffered its worst defeat with only 16% since taking power in Buenos Aires two decades ago. The peronist candidate Leandro Santoro lost with 27% of the votes. The voting turnout for the election was at a historic low of 53% despite compulsory voting.

Economy

In 2024, under President Javier Milei, Argentina saw major economic changes, focusing on austerity, deregulation, and reducing government spending. The most pressing issue for Milei was hyperinflation. Inflation dropped from 300% in May 2024 to 55.9% in March 2025, the lowest level in over three years, with monthly inflation hitting a two-year low of 2.2% in January.Javier Milei Slashes Argentina's Inflation in Just 1 Year "
From Reason MagazineÍndice de precios al consumidor (IPC)"
From Buenos Aires Times Milei cut government jobs by 20%, reduced salaries of high ranking officials, shut down the tax agency (AFIP), and replaced it with a smaller one, saving billions. While poverty rose to 57% early in 2024, it declined to 38.1% by Q3, with homelessness also decreasing."Argentina poverty levels slide, though many still feel the pinch"
from Reuters The economy shrank in early 2024, but grew 3.9% in Q4, helped by an 80.2% rebound in agriculture. The Argentine ''peso'' strengthened by 44.2% against the US dollar, boosting average wages in dollar terms to $990. Wages, along with purchasing power in Argentina began falling in October 2023, before Milei was elected and inaugurated as president. By the start of his presidency, real wages fell by more than 20%."Labor Monitor"
from UFM"Purchasing power loss in Argentina slumps to levels not seen since 2001 crisis"
from Buenos Aires Times They have mostly rebounded back to their November 2023 levels, ending the first year of his presidency as an economic success."El salario de los argentinos es mayor bajo Milei que bajo el kirchnerismo"
from UFM"Pobreza en Argentina bajó al 33.5% en enero 2025, según UTDT"
from La Derecha Diario"Argentina's Salaries Outpace Inflation with 145.5% Growth in 2024"
from The Rio Times Argentina paid off $4.3 billion in debt, and investor confidence soared, pushing bond prices higher. According to Gallup, the confidence in the economy by everyday people soared in end of 2024, reaching heights not seen since 2015. The country signed a free trade deal with the EU, and credit ratings improved. Forecasts predict economic growth of 3.5%–5.5% in 2025 as inflation stabilizes and investments increase.economy seen growing 4.5% in 2025, inflation cooling to double-digits"
from Reuters Argentina's market risk assessment fell below 500 points for the first time since 2018.

Inflation

Inflation was the foremost largest issue dominating contemporary Argentinian politics, as it began spiralling out of control during and some time after the elections of 2023. Milei, convinced that the peronist establishment largely caused the economic crisis, made it his main objective during the first year of his presidency to stop the situation from getting worse through anti-inflationary economic policies, and to diminish the influence of peronism. Annual inflation stood at 254.2% in the first month of Milei's term, and reached a peak of 300% in May 2024 before falling 94 points. It continued to fall to 43.5%, its lowest level in 3 years, by May 2025."Argentina Inflation Hits Lowest Since Covid in Win for Milei"
From Bloomberg Monthly inflation slowed in February 2024 for a second consecutive month as Milei continued to push austerity and deregulation measures to revive the country's struggling economy. Argentina's monthly inflation slowed to 13.2% in February, compared to 20.6% in January and 25.5% in December. It reached a 4-year low of 1.5% since 2020.

In 2024, the Argentinian ''peso'' appreciated by 44.2% against the dollar, outperforming all other currencies. In contrast, the second best performing currency against the dollar is the ''lira'', which gained 21.2%, less than half of the pesos increase. These actions aimed to stabilize an economy teetering on the brink of hyperinflation. The pesos strengthening doubled average wages in dollar terms, up to $990.

Wages, along with purchasing power in Argentina began falling in October 2023, before Milei was elected and inaugurated as president. By the start of his presidency, real wages fell by more than 20%. In 2024, wages rose by 145.5%, outpacing the 117.8% inflation rate, according to INDEC. According to Nowcast, the year-over-year increase in total family income (ITF) reached 185.7%. However, wage growth varied by sector. Formal private sector salaries increased by 147.5%, slightly above inflation, while public sector wages rose by only 119.3%. The biggest jump was in the informal sector, where incomes surged 196.7%. Despite wage increases, real income recovery has been uneven. In October 2024, CEPA reported that private sector wages had nearly returned to November 2023 levels. However, public sector incomes remained 14.8% lower, and informal workers were still down 21.3%.

Reforms

During his campaign and throughout his presidency, Javier Milei has said several times that the reforms he plans to enact are "painful", but "necessary", contending that its the only way. "There is no alternative to a shock adjustment,” Milei said during his inauguration. “There is no money.” In June 2024, Milei was able to pass his tax and 'omnibus' bill. The bill, aimed at deregulating and reforming several sectors and state owned enterprises in Argentina, also included reforms concerning labour, commerce and real estate and various social programmes such as healthcare.

In October 2024, Milei announced the shutting down of 'Administración Federal de Ingresos Públicos' (AFIP), the Argentine tax agency. According to Bloomberg Línea, 80 percent of AFIP's 2024 budget was allocated for salary payments. With the restructuring, a significant reduction in staff is anticipated, including the termination of over 3,000 AFIP agents who were "irregularly hired" by the previous administration. The changes will also slash "higher-level positions by 45 percent and lower-level positions by 30 percent," reducing senior officials' salaries. Overall, the measures are expected to "result in budgetary savings of around .4 million dollarsper year," the statement added. ''Reason'' magazine says, "It will be replaced by a newly formed agency, the Agencia de Recaudación y Control Aduanero (ARCA), which will assume some of its functions".

Starting in 2011, the country consistently ran a budget deficit, averaging 4.03% of GDP. Milei achieved a budget surplus within the first few months in office by gutting chunks of the government structure and downsizing it drastically and reducing the salaries of high ranking authorities, leading to a reduction of government spending by 30%. This led to 20% of federal employees being laid off, saving the government nearly 20 billion dollars in expenses.

Rent has "dropped by 40 percent in real term, and the supply of rental properties in Buenos Aires has increased by over 300 percent..." as a result of Milei abolishing all forms of rent control.

In July 2024, Milei set up the Ministry of Deregulation and State Transformation, to assist the government in matters related to deregulation, reform, and modernization of the Argentine state. It is headed by Federico Sturzenegger.

Poverty

During the first six months of his presidency, poverty rates increased by over 11 percentage points, from 41.7% to 52.9%, briefly peaking at 57.4% at the end of January 2024. In response, his government pointed out that poverty rates were already rising under previous administrations. According to INDEC, poverty rates plummeted to 38.1% during the third quarter of 2024. Furthermore, extreme poverty also seems to be declining, from being registered at 20.2% in the first quarter, 16% in the second, and 8.6% in the third. Conversely, the Catholic University of Argentina estimated poverty for the same quarter as 41.6%, adjusted for the reduced consumption rates as well as rising healthcare costs. Torcuato Di Tella University measured poverty at 36.8%, though their estimate has been revised to 33.5% at the end of January 2025. According to the UFM, poverty in the 4th trimester 2024 is down 37.9%, whilst extreme poverty is down 7.2%, both lower than the T3 2022 measure.

International trade and payments

In June, during a meeting in Berlin, Milei and German chancellor Olaf Scholz expressed support for a free trade agreement between the EU and Mercosur. An agreement on the free trade deal was announced on 6 December 2024.

Argentina's dollar-denominated international bonds reached new highs in March, with the 2029 and 2030 issues close to or at record-high prices. The bonds have rallied from lows that took the 2030 issue to 18.125 cents in July 2022, fueled by investor bets that the cabinet of Milei will be able to transform the Argentine economy successfully. Under Milei's leadership, Argentina has successfully paid back $4.3 billion debts to bondholders.

Milei has admitted to shipping some portion of Argentina's gold reserves abroad, though his government has resisted specifying the quantity or location they were sent to. This decision has been criticized for exposing the overseas portion of the Argentine gold reserve to seizure by foreign creditors, if the government is unable to pay its debts while the gold is abroad.

Milei's actions have led to Argentina regaining a favourable relation with the IMF after having been in a precarious position for almost 2 years, securing a 20 billion dollar loan. Since July 2022, the country has consistently kept a risk assessment of over 2000 points, well above the continental average of 250 points, marking significant volatility and lack of trust in the market. Since Milei's victory, the risk assessment trended downward, falling below 500 points for the first time since 2018. The loan is set to be used to disintegrate the remaining capital controls on the peso, as well as aiding the government in building up reserves, which had been exhausted prior to his presidency. J. P. Morgan has commented that "The policy advancements represent a significant step forward, enabling the country to unlock a potential that has been stifled for decades due to poor policy-making.". Argentina is the IMF's largest debtor country.

GDP

In the first and second quarter of 2024, Argentina's GDP contracted by 2.1% and 1.8%. However, in the last quarter, it expanded 3.9%, despite the significant austerity implemented by the President. Conversely, agriculture rebounded dramatically from a severe drought, achieving an impressive growth rate of 80.2% as conditions improved. The economy of Argentina is projected by the BBVA to grow by 5.5% in 2025, and by Goldman Sachs by 3.5% and 4.5% by the Argentinian central bank, as inflation stabilizes and investment starts pouring in, due to Milei's liberalisation of the economy. The financial improvements seen in the 3rd quarter of 2024 are complemented by society's renewed confidence in the government, creating a positive outlook for 2025. Economic activity during January 2025 returned to levels not seen since July 2022, trended to increase. The volume of real loans towards the private sector is at an all time high in both dollar and peso denominations. The IMF forecasts a near 10% growth of Argentina's GDP for the year 2025.

Moody's have increased Argentina's rating from 'Ca' to 'Caa3' due to the reforms initiated by President Milei.

Foreign policy

Milei made a radical change to Argentina's traditional foreign policy, aligning Argentina with the United States and Israel. Some analysts, like Ayelén Oliva of the BBC News or Walter Schmidt of Clarín, have compared his rapprochement to these countries to President Menem's similar policies in the 1990s. Milei's views on the Russian invasion of Ukraine initially had distanced him from other right-wing figures. He first supported Ukraine in its defense against Russia, and sent military helicopters to Ukraine during the first months of his presidency. Milei also cooled relations with Russia, and has considered sending more lethal aid to Ukraine. However, since the change in U.S. administration in 2025, Milei's government has shifted away from its previous firmly pro-Ukrainian stance, backing U.S.-led peace efforts. During the Gaza war, Milei was a fierce supporter of Israel, vowing his "unwavering" support. Among his measures in support of Israel, Milei declared Hamas as a terrorist organization in July 2024, and ordered the Argentine delegation at the UN to vote against the incoporation of the State of Palestine into the United Nations. Milei also made a state visit to Israel on 6 February 2024, in which he announced plans to relocate the Argentine embassy in Israel from Tel Aviv to Jerusalem, and where he visited a kibbutz that had been attacked by Hamas militants during the October 7 attacks. Milei declared two days of national mourning over the return of the bodies of the Bibas family (who were Argentine citizens) on February 21, 2025. On 11 June 2025, while addressing the Knesset, Milei confirmed that Argentina will effectively move its embassy to Jerusalem. In Latin America, Milei dismissed the results of the 2024 Venezuelan presidential election as "fraudulent" and called on Nicolás Maduro to resign. On 7 August 2024, Argentina became one of the first nations to recognize Edmundo González as the legitimate President of Venezuela. Milei also met with US Secretary of State Marco Rubio during the second inauguration of Donald Trump, and reaffirmed the intention to continue to pressure Maduro to exit power. As a result of the ensuing tensions, Venezuela ordered Milei's arrest and Argentina ordered Maduro's arrest.

Milei has expressed discontent or strong ideological differences with China, even threatening to cut ties with China during his presidential campaign. In the immediate aftermath of Milei's electoral victory, the Government of Taiwan congratulated Milei and that Taiwan would seek to strangthen ties with Argentina. Moreover, it was rumored in December 2023, that then Foreign Minister Diana Mondino had held a meeting with a Taiwanese official, even raising suspicions of Taiwanese financement of Milei's presidential campaign. In response to these allegations, China'a ambassador to Argentina Wang Wei, issued a statement reaffirming the principle of a One-China, adding that Taiwan is an "inalienable part of China" and a internal affair as well. The Argentine government later clarified that there were no contact between Argentine and Taiwanese officials, as the Chinese government threatened to stop buying soy and meat to Argentina as a response to this approachment to Taiwan.

Milei is also a strong opponent of the Cuban government, calling President Miguel Díaz-Canel "despicable" and referring to Cuba as a "prison island". In October 2024, Milei fired foreign minister Diana Mondino after she failed to vote for the US embargo on Cuba at the UN, later assuring that Argentina condemns the "Cuban dictatorship". Milei has also condemned other leftist leaders in the region, calling Colombian President Gustavo Petro a "murderous terrorist" and Brazilian President Lula da Silva "corrupt" and "communist". In July 2024, Milei had a diplomatic confrontation with Bolivian President Luis Arce over the 2024 Bolivian coup attempt, which Milei dismissed as "false" and orchestrated by Arce himself.

Milei enjoys a friendly personal relationship with former Brazilian president Jair Bolsonaro and U.S. president Donald Trump, and attended Trump's second inauguration as President in January 2025 in Washington. Similar to Trump's first measures, Milei expressed intention to withdraw Argentina from the Paris Accord and the World Health Organization, saying that the government is studying the possibilities of suspending Argentina's memberships. Argentina subsequently announced, on 5 February, that it would withdraw from WHO, citing "deep differences" with the organization. On 27 May 2025, during a meeting with American official Robert F. Kennedy, Jr. in Buenos Aires, Milei ratified Argentina's withdrawal from WHO, accusing the organization of basing its positions on political interests and bureaucratic structures while refusing to review what he claimed were mistakes.

Cryptogate

In February 2025, Milei publicly promoted the cryptocurrency $LIBRA, a meme coin, on his X account; the coin suffered a disastrous price drop shortly afterwards. Commentators have said that it could have been a rug pull. The resulting controversy was dubbed Cryptogate by the media. ''The Economist'' called it the "first big scandal" of Milei's presidency.

In response, opposition politicians in Congress called for Milei's impeachment, and a group led by , the leader of the opposition Popular Unity party, filed charges of fraud against Milei. However, the initiative does not have enough supporters in the Impeachment Commission to proceed with the proposal. Milei conceded that promoting the coin was a mistake on his part, noting that he did not participate in its development. However, reports suggest close associates of Milei, Mauricio Novelli and Manuel Terrones Godoy, were in touch with LIBRA's creator Hayden Davis, who was responsible for the launch of the token. Novelli was reported to have accepted bribes in exchange for providing access to the president and having facilitated the president's promotion of the token; although there is no evidence that Milei was aware of this. Milei and his government have defended him and said that he regularly promotes private Argentine ventures and projects online on his X account to attract investments and create jobs; and will continue to do so. One government official described Milei as the scam's biggest victim and said that he was cheated. Because of the rug pull, Milei ordered the Anti-Corruption office to determine whether any improper conduct occurred by any member of the national government, including himself. However, this office is part of the executive branch, and its director was placed in office by Milei. Milei's lawyer stated that Milei's behaviour "does not constitute any crime, due to the lack of intention." Milei also stated in an interview that he would seek legal advice from Mariano Cúneo Libarona, the minister of justice, an action seen as an acknowledgement that the promotion was an official action as president. However, he also argued that the "volatility traders" who lost funds understood the risks involved.

Political positions

Milei's stances have been described in many different ways. He has been variously described as right-wing libertarian, ultraconservative, far-right, right-wing populist, and ultra-liberal. He has described himself as a philosophical anarcho-capitalist who is, for practical purposes, a minarchist. Milei advocates minimal government, focusing on justice and security, with a philosophy rooted in life, liberty, and property, and free market principles. He criticizes socialism and communism, advocating economic liberalization and restructuring government ministries. He opposes Argentina's Central Bank and current taxation policies.

Economically, Milei is influenced by the Austrian school, and admires former President Carlos Menem's policies. He supports capitalism, viewing socialism as embodying envy and coercion. Milei proposes reducing government ministries and addressing economic challenges through spending cuts and fiscal reforms, criticizing previous administrations for excessive spending. He has praised the monetary policies of former British prime minister Margaret Thatcher and called her "a great leader".

Milei opposes abortion and euthanasia, is indifferent to same-sex marriage, and supports privatization in education and healthcare. He opposes mandatory vaccination and supports drug legalization and the legalization of prostitution. As a supporter of the right to keep and bear arms, Milei advocates for the deregulation of firearm ownership and proposes immigration restrictions for criminals. In foreign policy, Milei criticizes the IMF, opposes trade unions, aligns with anti-socialist figures of the Americas like Donald Trump and Jair Bolsonaro, and prioritizes alliances with the United States and Israel. He is cautious about relations with China and supports Ukraine against Russia in the latter's ongoing invasion. He opposes the transgender rights movement and what he calls a "cult of gender ideology". He scrapped labor quotas designed to hire more transgender people in the government but has not criminalized transgender identity or gender clinics.

Milei advocates for dialogue with the United Kingdom over the Falkland Islands sovereignty dispute. In May 2024, he indicated, for the time being, his general acceptance of the Falkland Islands' status as a British Overseas Territory, accepting that it could take decades for Argentina to regain control of them. Though asserting that Argentina would not "relinquish ursovereignty" over the islands, Milei said he would not "seek conflict with the United Kingdom", preferring to resolve the dispute "within the framework of peace".Wells,Ione; South America correspondent
"Falklands dispute may last decades – Argentina president,"
May 6, 2024, BBC News, retrieved May 7, 2024

Public image

Milei has cultivated a complex and controversial public image marked by a blend of populist, right-wing libertarian, and conservative ideologies. Known for his ultra-liberal economic views and right-wing populist rhetoric, Milei's political stance has been subject to various interpretations by international media and political commentators. His rise to prominence during the 2023 presidential campaign, fueled by his primary win, sparked widespread attention, as did his central bank abolition and dollarization proposals.

Milei is known for his flamboyant personality, distinctive personal style, and strong media presence, which sometimes causes controversy, and his embrace of conspiracy theories, including the Cultural Marxism conspiracy theory. He has also called the idea of climate change as an anthropogenic phenomenon "a socialist lie" and said that concerns about it are nothing more than "deceptions promoted by the neo-Marxists", as are those related to the attempts to overturn the 2020 United States presidential election. Echoing Donald Trump, he also claimed electoral fraud ahead of the 2023 presidential runoff. Like other right-wing populists, his rhetoric focuses on opposing what he calls "the political caste". Milei's party was criticized for including among his candidates apologists for the National Reorganization Process. During his political career, Milei has also been involved in several investigations and has been accused of having a violent attitude toward journalists and critics, as well as of misogynistic behavior, including toward women in journalism.

Milei is a cosplayer with a superhero persona called "General AnCap". He also champions free love. In addition to being nicknamed ''el Peluca'' ("The Wig") for his eccentric hair, which has been compared to that of Trump and fellow right-wing populists Boris Johnson and Geert Wilders, Milei is known as ''el Loco'' ("The Madman"). News outlets have called him a "rock singer and tantric sex instructor", a "former tantric sex coach", and a "mixture of a messianic preacher and a rock star", and have likened him to both Trump and Wolverine. His admirers also call him "The Lion" because of the lyrics of the song "Panic Show" by rock band La Renga, which he sings in his public acts, coupled with his looks (in particular, his long hair). ''Time'' named him one of the 100 most influential people in the world in 2024 and 2025.

The chainsaw has become an enduring and popular symbol associated with Milei (he has been called the "chainsaw candidate"), specifically symbolizing his "cutting" of regulations, bureaucracy, and red tape in Argentina. Some commentators have called Milei's economic policy of cutting regulations "chainsaw economics". Milei's supporters often carry chainsaws at rallies, symbolizing "his promise to cut down the size of the state". Milei is also well known for his phrase "¡Viva la libertad, carajo!", which is uttered most especially at the end of various speeches given by him.

Job approval

In a Gallup poll on 10 December 2024, the approval ratings for Milei were still over 50%, with trust in the government having doubled since 2023. The perception of the economic situation and the standard of living has also improved, with 53% of Argentinians believing that their standard of living is now better, reaching the same high as 2015. 41% believe the economy of their city is also improving, reflecting a more optimistic view of Argentina. However, 69% of Argentinians believe it is a bad time to look for a job in this economy, while 35% do not have enough money for food, although these figures are a modest decrease from their two-decade high, in 2019. 59% of the richest 20%, but only 39% of the poorest 20% approve of Milei's governance, though the ratings are still higher across the socioeconomic board when compared to Milei's predecessor, Alberto Fernández.

Through 2024 in to March 2025, Milei's approval rating declined from 49% to 47% with his disapproval numbers rising from 48% to 49%. His two predecessors, Alberto Fernández and Mauricio Macri saw a 50% to 28% and 72% to 45% drop during the same periods in office. The issues cited most commonly by respondents were the current IMF negotations and the handling of the Bahia Blanca natural disaster.

Honours and awards

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*** International Medal of the Community of Madrid (20 June 2024)
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** Order of Liberty (25 June 2024)

Other

Milei was awarded the 2025 Genesis Prize in recognition of his support of Israel. ''Time'' named him one of the 100 most influential people in the world in 2024 and 2025.

Personal life

Milei is unmarried and, while he was a presidential candidate, said that, if elected, he would have his sister take the role of First Lady of Argentina. However, in December 2023, after winning the presidency, he announced that his government would not have a first lady. He called the role "anachronistic" and declared that this decision was taken after discussions with both his sister and his girlfriend, actress Fátima Flórez. Milei originally announced he was dating Fátima Florez in August 2023. Previously, he dated singer .

While raised Catholic, Milei had been critical of the Catholic Church under Pope Francis, and his disparaging comments about Francis attracted criticism from Catholics. Conversely, Milei would later embrace Francis after meeting him, stating in a Retequattro interview, “I had to reconsider some positions, and starting from that moment, we began to build a positive relationship.” Milei also reads the Torah daily and has visited the grave of Orthodox rabbi Menachem Mendel Schneerson. Before November 2023, Milei said he had contemplated converting to Judaism but that observing the Jewish Sabbath could pose challenges if he became president. Upon being elected president, it was reported that Milei intended to convert to Judaism. Milei has confessed that he professes a "fanaticism" for Judaism.

Milei owns five cloned English Mastiffs, their progenitor being Conan, who died in 2017 after suffering from spinal cancer. He considers Conan his son (a form of pet humanization), and has named four of Conan's six clones, including one named after the original and another named Angelito, Milton (in honor of Milton Friedman), Murray (in honor of Murray Rothbard), Robert, and Lucas (both named after Robert Lucas Jr.). Milei said that he cloned Conan because he understands cloning as "a way of approaching eternity". To do this, he went to a clinic in the United States: the process cost him about $50,000. He has called his dogs his "four-legged children", and thanked them after his electoral win. Milei commented that one day there was a fire at his building while he was watching TV, which he realized because Conan made for the balcony. He escaped with him using the emergency ladder, and took him to the vet, who gave oxygen to Milei because he was developing symptoms of cyanosis.

Milei is an avid fan of association football. Albeit having played for Chacarita Juniors in his early adulthood, he has stated to be a supporter of Boca Juniors; in a 2024 interview with Radio Mitre, Milei said, "I am a member and fan of Boca. If investment groups come and put a fortune for us to win all the time, where do I sign?" However, he has expressed criticism of the presidency of Juan Román Riquelme running the club". Milei is a huge fan of the English rock band The Rolling Stones.

In December 2024, while holding the office of Head of State, Milei applied for and was granted Italian citizenship via ''jus sanguinis'', under the government of Prime Minister Giorgia Meloni.

Electoral history

Executive

Legislative

Radio

Publications

Books

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Journal articles

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References

Further reading

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External links

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Javier Milei's Government Plan Unveiled


Bases de acción política y plataform electoral nacionale 2023


Javier Milei
– biography by the Barcelona Centre for International Affairs

{{DEFAULTSORT:Milei, Javier

1970 births
Living people
20th-century Argentine people
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