Javier Gerardo Milei[b] (born 22 October 1970) is an Argentine politician and economist who has served as President of Argentina since 2023. He has taught university courses and written on various aspects of economics and politics and also hosted radio programmes on the subject.
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[es] 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 Argentinian television programs, in which he was a vocal critic of the Argentine political establishment.
Milei is of paternal Italian descent, tracing his heritage to the municipalities of Cosenza and Rossano in the Calabria region of Southern Italy.[9] His paternal grandfather, Francesco "Ciccio" Milei, migrated to Argentina from Calabria in 1926.[10] 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.[11] Through his Croatian maternal grandfather, Nicolás Mariano Lucich Bosikovic, he is related to Uruguayan television presenter Rodrigo Lussich[es], who stated their ancestors migrated from Croatia and settled throughout Argentina and Uruguay.[12]
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.[13] His parents, according to Milei, beat and verbally abused him.[14] When he moved out as an early adult, he did not speak to them for a decade.[5] By 2018, he stopped talking to his parents entirely and disowned them; he regarded them as dead.[15] He was supported by his maternal grandmother and his younger sister Karina,[1] with whom he shares a close bond[16] and whom he calls "the boss".[17]
Javier Milei attended Catholic schools,[1] including the Cardenal Copello secondary school.[4] At school, he was nicknamed el Loco ("the Madman") for his outbursts and aggressive rhetoric.[1] 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,[6][18] when Argentina suffered from hyperinflation, and he committed to a career in economics.[19]
For over 20 years,[when?] Milei was a professor of macroeconomics,[clarification needed] the economics of growth, microeconomics, and mathematics for economists.[4] 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.[21][22]
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.[21] He was also a senior economist at HSBC Argentina.[21] He served as chief economist at several national and international government public bodies.[4] Since 2012, Milei has led the Economic Studies division at Fundación Acordar, a national think tank.[21] 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,[when?] he worked at the private company Corporación América as the chief economist and financial adviser to Eduardo Eurnekian.[23]
Milei is the author of several books,[24] including El camino del libertario.[25] 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.[26] Milei also hosted his own radio show, Demoliendo mitos (Demolishing Myths),[27] 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.[28][29]
During the 2010s, Milei achieved significant notoriety and public exposure in debates featured on Argentine television programmes characterized by insults to his rivals,[30][31][32] foul language,[33][34] and aggressive rhetoric when expressing and debating his ideals and beliefs,[35][36] such as one with Buenos Aires chief of government Horacio Rodríguez Larreta.[37][38] This led many commentators to label him antipolitical or disruptive.[39]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.[40]
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.[41] 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".[42]
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.[43][44] 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.[45][46] 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.[4]
2021 legislative campaign
From 2020 to 2021, Milei was a member of Avanza Libertad (Advance, Freedom), a political party founded by José Luis Espert.[47] 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.[48] He pledged not to support any tax increases or new taxes.[49] 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,[50][51][52] which he said was composed of "useless, parasitic politicians who have never worked".[53] He called politicians "rats" and said they form "a parasitic caste" that thinks only about getting rich.[54] He used phrases like "I'm here to kick these criminals out"[1][55] and was especially supported by youth;[56] he promoted his political views on television, radio, and YouTube.[4] Additionally, Milei reconciled with his parents.[57]
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,[64][65] 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".[1] His monthly raffle for his salary has given away more than seven million pesos since his parliamentary election.[66] As a national deputy, as of April 2023, Milei had been present in the chamber 52 percent of the time.[67] As of August 2023, he had not proposed any laws or joined any parliamentary commissions.[68][66] 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.[69][70][71]
In July 2023, Milei faced an investigation into the alleged selling of candidacies within La Libertad Avanza.[72][73] 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".[74] 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[75] and demanded that Ramiro González be investigated, accusing him of damaging his image.[76] The case was closed in March 2024, as the prosecutor could not find enough evidence to make a formal accusation.[77]
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.[78][79][80]
On its website, Coinx World claimed that all its investments were “fine-tuned” using artificial intelligence, bots, and a group of “trading experts”. The fintech stated that its portfolio included “more than 5,000 assets on Wall Street” and “diversified” investments designed “to maximize profits and minimize risks”. Coinx World also promoted “hands-free investing”, promising to manage investors’ accounts on their behalf. The platform guaranteed a fixed monthly return of 5% for its “Standar” tier, which required a minimum investment of US$500 and up to 8% on its “Premium” tier, which required an investment of more than USD₮ (Tether stablecoin) 1,000. Investors were subjected to mandatory lock-in periods that ranged from 6 to 24 months, during which they could not withdraw their funds.[79] Coinx World never clearly disclosed how it achieved those returns or provided audits certifying the legitimacy of its operations. Additionally, it never clarified the types of assets it owned or their exact quantities.[80][81]
Financial experts warned that such rates 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.[82] Coinx World was never registered as a financial operator; instead, it was registered as a software brand with Argentina's National Institute of Intellectual Property. Its parent company, Proyecto RSS, was registered in 2018 as a provider of electrical installation services and had unpaid employee contributions, according to social security records.[83]
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 apologized to the victims when asked to do so.[84][85]
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.”[85]
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 AR$30,000,000 and AR$40,000,000 (approximately US$300,000 at the time). According to its website, Coinx World operated in Argentina, Brazil, and El Salvador.[79][86]
Vulcano token promotion
This section needs expansion. You can help by adding to it. (March 2025)
In February 2022, Milei publicly praised the digital asset of the video game company Vulcano on social media. According to a description on its website, Vulcano acted as a “multifaceted cryptocurrency” designed for the video gaming sector.
"Vulcano Game NFT Gaming is a very interesting project. It offers a sustainable economic model over time, unlike most others," Milei stated.
However, just weeks after his endorsement, Vulcano's token $VULC lost all its value. [87][88]
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.[89][90] His younger sister, Karina Milei, managed his campaign.[4] In May 2022, Milei was rising in the polls.[91] In June 2022, he officially launched his presidential campaign.[92] 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.[54]
As annual inflation rose above 100 percent in May 2023,[93] Milei's position in the polls rose.[94] 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".[95] 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"),[96] wielding a chainsaw on stage,[97] smashing a piñata on air to symbolize his plans, calling Pope Francis "a filthy leftist", and praising American gangster Al Capone as "a hero".[98]
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,[99] Milei emerged as the leading candidate,[100][101][102] with 30 percent of the vote, ahead of the traditional Peronism–Kirchnerism and Macrism that dominated the country in the 2010s.[4] Milei's victory was celebrated by right-wing figures, including Jair Bolsonaro,[102]José Antonio Kast,[102]Ted Cruz,[40] and the Spanish conservative[103] political party Vox.[104] 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;[105] Milei polled at about 20 percent[4] and was seen as an outsider candidate.[106][107] Initially, for the first round of the general election, with the possibility of a runoff in November,[108] Peronists saw Milei as a possible ally who would divide the votes of the Juntos por el Cambio coalition.[109]
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[110] in what polls showed as a tight race.[111] In the runoff on 19 November, Milei defeated Massa in a landslide[112][113][114] and a historic election.[115] 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,[98] and his victory was likened to Donald Trump's in the United States and Jair Bolsonaro's in Brazil.[116][117] Within the Argentine Congress, Milei's coalition achieved about 20% in the Chamber of Deputies and 10% in the Senate.[118] In his victory speech, Milei pledged a new political era,[119][120] vowing to begin "the reconstruction of Argentina" and end its economic decline.[120]
Milei took office as president on 10 December 2023, amidst a lack of support in Congress,[121] an annual inflation rate approaching 200%,[122] rising poverty, and a polarized population as challenges for his presidency.[123] His foreign minister, Diana Mondino, announced that Argentina would not join the BRICS bloc of developing economies, as had been planned for 2024.[124] 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.[125][126][127] 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.[128]
Milei's cabinet includes ministers from La Libertad Avanza and Juntos por el Cambio.[129][130][131] 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.[132][133]
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.[needs update][134] As part of the measure, an estimated 5,000 public sector employees will be affected.[135] An Argentine court halted the labor reforms that were part of the decree.[136] 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.[137][138]
In March 2024, Argentina announced a charge against Venezuela before the International Civil Aviation Organization for allegedly violating the Convention on International Civil Aviation. Venezuelan President Nicolás Maduro banned Argentine aircraft from its airspace earlier amid traded accusations with Milei.[139] In the same month, Milei approved the transfer of two military Mi-171E helicopters to Ukraine, which it later received.[140] On 18 April, Argentina formally submitted its request to NATO to become a global partner.[141] 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.[142] 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.[143] Under his watch, Argentina exited deficit for the first time in 123 years.[144] In a speech given to the World Economic Forum, Milei encouraged a worldwide push for libertarianism, citing Argentina's economic success.[145]
President Millei has appointed Justices to Argentina Supreme Court, bypassing Congress.[146]
Milei and other Mercosur leaders with European Commission President Ursula von der Leyen at the 65th Mercosur Summit in Montevideo, Uruguay, 5 December 2024
In 2024, under President Javier Milei, Argentina saw major economic changes, focusing on austerity, deregulation, and reducing government spending. Inflation dropped from 211% in December 2023 to 193% in October 2024, with monthly inflation hitting a three-year low of 2.7% in October. Milei cut government jobs by 20%, shut down the tax agency (AFIP), and replaced it with a smaller one, saving billions. While poverty rose to 57% early in 2024, government estimates later projected a decline to 38.9% by Q3, with homelessness also decreasing. 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 have mostly rebounded back to their November 2023 levels. 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, resulting in 2024 being a resounding economic success for Milei. Forecasts predict economic growth of 3.5%–5.5% in 2025 as inflation stabilizes and investments increase.[147]
Inflation
Annual inflation stood at 211% when Milei took office in December 2023,[148][149] and reached a peak of 289% in April 2024[150] before falling below 200% for the first time in a year in October 2024.[151] 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.[152] It reached a 3-year low of 2.7% in October 2024, with projections of further decreases.[153] This decrease in the rate of inflation was driven primarily by the Government's elimination of deficit spending, leading to a decrease in monetary expansion. Decreases in the prices of some key items in the consumer price index such as electricity and rent have contributed as well.
According to a February 2024 study by the Pontifical Catholic University of Argentina, the poverty rate in January 2024 climbed to 57%, partly attributed to Milei's relaxing of controls on the exchange rate of Argentina's currency as it decreased the reported purchasing power of Argentinians.[154] The move aligned the official and parallel exchange rates more closely. The official exchange rate is a government-set rate used in formal transactions and statistical calculations, such as trade and economic indicators. In contrast, the parallel exchange rate reflects market-driven values influenced by supply and demand and may differ due to factors like government controls or economic conditions. In March 2023, the parallel exchange rate of the peso was worth less than half of the official rate.[155][156][157][158]
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.[159]
In 2024, wages in Argentina 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%.[160][161][162]
Milei's reforms led to a decline in manufacturingsector activity in 2024, with a 9.4% overall contraction in the sector. The decline was most prominent in the construction sector, where activity reduced by 27.4%. The cuts are largely attributed to Milei cutting public works.[163]
Reforms
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 [6.4 million dollars] per 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".[164][165][166] Meanwhile, 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.[167] 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.[168] This led to 20% of federal employees being laid off, saving the government nearly 20 billion dollars in expenses.[169]
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.[170]
Argentina’s Vaca Muerta shale formation is driving a major energy boom, making the country a net energy exporter for the first time in 14 years. With the world’s fourth-largest shale oil reserves and second largest shale gas deposits, Argentina is set to overtake Colombia as South America’s third-largest crude producer in 2025. Estimates suggest that Argentina's production in 2030 will scale to 1 million barrels per day, as Milei increases efforts in the extraction of oil and gas and reduces existing capital controls, export taxes and regulations.[173]
Poverty
The opposition has criticised Milei's policies to reverse hyperinflation as leading to increased 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.[174] In response, his government pointed out that poverty rates were already rising under previous administrations.[175] According to a government report, poverty rates were projected at 38.9% during the third quarter of 2024. Furthermore, homelessness also seems to be declining, from being registered at 20.2% in the first quarter, 16% in the second, and projected at 8.6% in the third.[176] This figure has been calculated by the Argentine government agency, the National Institute of Statistics and Census of Argentina (INDEC). The IMF has significant influence within INDEC to avoid the fabrication of misleading statistics.[177][178] Conversely, the poverty rate in the third quarter is estimated at 49.9% by the Catholic University of Argentina, and 36.8% by the Torcuato Di Tella University, though their estimate has been revised to 33.5% at the end of January 2025.[179][180][181]
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.[182] An agreement on the free trade deal was announced on 6 December 2024.[183]
Under Milei's leadership, Argentina has successfully paid back $4.3 billion debts to bondholders.[184]
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.[185]
Milei's actions have led to Argentina regaining a favourable relation with the IMF, and may receive up to 20 billion dollars in a new deal. Argentina is the IMF's largest debtor country.[186]
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.[187][188][189][190][191][192]
Moody's have increased Argentina's rating from 'Ca' to 'Caa3' due to the reforms initiated by President Milei.[193]
Foreign policy
Milei shaking hands with Donald Trump in February 2025
Milei made a radical change to Argentina's traditional foreign policy,[194] aligning Argentina with the United States and Israel.[195][196] 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.[197][198]
Milei's views on the Russian invasion of Ukraine initially had distanced him from other right-wing figures.[199] He first supported Ukraine in its defense against Russia, and sent military helicopters to Ukraine during the first months of his presidency.[200] Milei also cooled relations with Russia, and has considered sending more lethal aid to Ukraine.[201] 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.[202]
During the Israel–Hamas war, Milei was a fierce supporter of Israel, vowing his "unwavering" support.[203] Among his measures in support of Israel, Milei declared Hamas as a terrorist organization in July 2024,[204] and ordered the Argentine delegation at the UN to vote against the incoporation of the State of Palestine into the United Nations.[205] 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,[206] and where he visited a kibbutz that had been attacked by Hamas militants during the October 7 attacks.[207] 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.[208]
In Latin America, Milei dismissed the results of the 2024 Venezuelan presidential election as "fraudulent" and called on Nicolás Maduro to resign.[209] On 7 August 2024, Argentina became one of the first nations to recognize Edmundo González as the legitimate President of Venezuela.[210] 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.[211] As a result of the ensuing tensions, Venezuela ordered Milei's arrest and Argentina ordered Maduro's arrest.[212]
Milei is also a strong opponent of the Cuban goverment, calling President Miguel Díaz-Canel "despicable" and referring to Cuba as a "prison island".[213] 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".[214] Milei has also condemned other leftist leaders in the region, calling Colombian President Gustavo Petro a "murderous terrorist"[215] and Brazilian President Lula da Silva "corrupt" and "communist".[216] 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.[217]
Milei enjoys a friendly personal relationship with former Brazilian president Jair Bolsonaro and U.S. president Donald Trump,[218] 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.[219] Argentina subsequently announced, on 5 February, that it would withdraw from WHO, citing "deep differences" with the organization.[220]
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.[221][222] The resulting controversy was dubbed Cryptogate by the media.[223][224][225]The Economist called it the "first big scandal" of Milei's presidency.[226]
In response, opposition politicians in Congress called for Milei's impeachment, and a group led by Claudio Lozano[es], the leader of the opposition Popular Unity party, filed charges of fraud against Milei.[227][228][229] However, the initiative does not have enough supporters in the Impeachment Commission to proceed with the proposal.[230] Milei conceded that promoting the coin was a mistake on his part, noting that he did not participate in its development.[231] 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.[232] 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.[233] 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.[234][235][236] 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 it's director was placed in office by Milei. [237] Milei's lawyer stated that Milei's behaviour "does not constitute any crime, due to the lack of intention."[231] 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.[238] However, he also argued that the "volatility traders" who lost funds understood the risks involved.[236]
Milei and Ukrainian President Volodymyr Zelenskyy in Buenos Aires, 10 December 2023Milei and Israeli President Isaac Herzog shake hands in Beit HaNassi in Jerusalem on 6 February 2024.
Economically, Milei is influenced by the Austrian school, and admires former President Carlos Menem's policies.[259] He supports capitalism, viewing socialism as embodying envy and coercion.[255] Milei proposes reducing government ministries and addressing economic challenges through spending cuts and fiscal reforms, criticizing previous administrations for excessive spending.[4][260] He has praised the monetary policies of former British prime minister Margaret Thatcher and called her "a great leader".[261][262][263]
Milei advocates for dialogue with the United Kingdom over the Falkland Islands sovereignty dispute.[55] 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 [our] sovereignty" over the islands, Milei said he would not "seek conflict with the United Kingdom", preferring to resolve the dispute "within the framework of peace".[280]
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.[54][55] His rise to prominence during the 2023 presidential campaign, fueled by his primary win, sparked widespread attention,[100][101][102] as did his central bank abolition and dollarization proposals.[281]
Milei is known for his flamboyant personality, distinctive personal style, and strong media presence, which sometimes causes controversy, and his embrace of conspiracy theories,[282] including the Cultural Marxism conspiracy theory.[283] 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",[284][272] as are those related to the attempts to overturn the 2020 United States presidential election.[285] Echoing Donald Trump, he also claimed electoral fraud ahead of the 2023 presidential runoff.[286][287] Like other right-wing populists, his rhetoric focuses on opposing what he calls "the political caste".[288] Milei's party was criticized for including among his candidates alleged neo-Nazis and apologists for the National Reorganization Process.[74] 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.[39]
Milei is a cosplayer with a superhero persona called "General AnCap".[289] He also champions free love.[290][291][292] In addition to being nicknamed el Peluca ("The Wig") for his eccentric hair,[293][294][295] which has been compared to that of Trump and fellow right-wing populists Boris Johnson and Geert Wilders,[296] Milei is known as el Loco ("The Madman").[297] News outlets have called him a "rock singer and tantric sex instructor",[298] a "former tantric sex coach",[102] and a "mixture of a messianic preacher and a rock star",[97] and have likened him to both Trump and Wolverine.[299] 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).[300][301] In 2024, Time named him one of the 100 most influential people in the world, stating that "with Milei in office, there will be no going back for Argentina".[302]
Milei with Elon Musk holding a chainsaw; the chainsaw has become a popular symbol associated with Milei.
The chainsaw has become an enduring and popular symbol associated with Milei[303] (he has been called the "chainsaw candidate"[304]), specifically symbolizing his "cutting" of regulations, bureaucracy, and red tape in Argentina.[305] Some commentators have called Milei's economic policy of cutting regulations "chainsaw economics".[306] Milei's supporters often carry chainsaws at rallies, symbolizing "his promise to cut down the size of the state".[307] 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.[308]
Job approval
In a Gallup poll on 10 December 2024, the approval ratings for Milei still hold to 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, challenges still remain, and 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 Fernandez.[309]
Awards
Milei was awarded the 2025 Genesis Prize in recognition of his support of Israel.[310]
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.[288] However, in December 2023, after winning the presidency, he announced that his government would not have a first lady.[311] He called the role "anachronic" and declared that this decision was taken after discussions with both his sister and his girlfriend, actress Fátima Flórez.[311] Milei originally announced he was dating Fátima Florez in August 2023.[312] Previously, he dated singer Daniela Mori[es].[313]
Milei owns five cloned English Mastiffs, their progenitor being Conan, who died in 2017 after suffering from spinal cancer.[74][297][326] 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,[327] Milton (in honor of Milton Friedman), Murray (in honor of Murray Rothbard), Robert, and Lucas (both named after Robert Lucas Jr.).[328][329] Milei said that he cloned Conan because he understands cloning as "a way of approaching eternity".[326] To do this, he went to a clinic in the United States: the process cost him about $50,000.[326] He has called his dogs his "four-legged children", and thanked them after his electoral win.[4][330] 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.[331]
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?"[332] However, he has expressed criticism of the presidency of Juan Román Riquelme at the club since 2023, stating that his "management at Boca is a disaster" and referred to Riquelme as "a Kirchnerist running the club".[333] Milei is a huge fan of the English rock band The Rolling Stones.[334]
— (2014). Lecturas de Economía en tiempos de Kirchnerismo[Economic Readings in Times of Kirchnerism] (in Spanish). Grupo Unión. ISBN978-987-3773-00-6.
— (2014). Política Económica Contrarreloj[Economic Politics Against the Clock] (in Spanish). Ediciones Barbarroja. ISBN978-987-45133-2-8.
— (2015). El retorno al sendero de la decadencia Argentina[The Return to the Road of Argentine Decadence] (in Spanish). Grupo Unión. ISBN978-987-3677-18-2.
—; Giacomini, Diego (2016). Maquinita, Infleta y Devaluta[Money Printer, Inflation and Devaluation] (in Spanish). Grupo Unión. ISBN978-987-3677-44-1.
— (2017). Otra vez sopa: maquinita, infleta y devaluta: ensayos de economía monetaria para el caso argentino[Soup Again: Money Printer, Inflation, and Devaluation. Monetary Economy Essays for the Argentine Case] (in Spanish). Ediciones B, Grupo Zeta. ISBN978-987-627-814-0.
— (2018). Desenmascarando la mentira Keynesiana. Keynes, Friedman y el triunfo de la Escuela Austriaca[Unmasking the Keynesian Lie: Keynes, Friedman, and the Triumph of the Austrian School] (in Spanish). Grupo Unión. ISBN978-84-7209-727-8.
—; Giacomini, Diego (2019). Libertad, libertad, libertad[Liberty, Liberty, Liberty] (in Spanish). Galerna. ISBN978-950-556-739-3.
— (2020). Pandenomics. La economía que viene en tiempos de megarrecesión, inflación y crisis global[Pandenomics: The Coming Economy in Times of Mega Recession, Inflation, and Global Crisis] (in Spanish). Galerna. ISBN978-950-556-779-9.
— (2023). El fin de la inflación. Eliminar el Banco Central, terminar con la estafa del impuesto inflacionario y volver a ser un país en serio[The End of Inflation: Eliminate the Central Bank, End the Inflation Tax Scam, and Return to Being a Serious Country] (in Spanish). Planeta Argentina. ISBN978-950-498-171-8.
— (2014). "De los picapiedras a los supersónicos. Maravillas del progreso tecnológico con convergencia" [From the Flintstones to the Jetsons: Wonders of Technological Progress with Convergence]. Revista Actualidad Económica (in Spanish) (83). National University of Córdoba, Faculty of Economic Sciences, Institute of Economics and Finance: 5–18.
—; with Diego Giacomini (2017). "Ensayos monetarios para economías Abiertas. El caso argentino" [Monetary Essays for Open Economies: The Argentine Case]. Revista Actualidad Económica (in Spanish) (91). National University of Córdoba, Faculty of Economic Sciences, Institute of Economics and Finance: 5–24.
↑ Castrillón, Mayra Castillo; Amancio, Nelly Luna; De Masi, Victoria; Scofield, Laura; Correia y Rute Pina, Mariama; Velázquez, Kennia; Arbeláez, Natalia; Echeverry y Elisa, María José (16 November 2021). "La ultraderecha arma nuevas alianzas para crecer en América Latina". elDiarioAR.com (in Spanish). Archived from the original on 16 November 2021. Retrieved 17 August 2023.
↑ Chivvis, Christopher; Stuenkel, Oliver; Geaghan‑Breiner, Beatrix (22 November 2023). "Argentina In the Emerging World Order". Carnegie Endowment for International Peace. Archived from the original on 27 January 2024. Retrieved 23 November 2023.
↑ "Javier Milei claims extreme gender ideology is 'child abuse'". UnHerd. 2025. Retrieved 29 January 2025. Javier Milei ... said that a "victimhood narrative" underpinned the "criminal ideology". ... Milei referred to the recent case in which two gay men in America ... were jailed for sexually abusing their adopted children. "In its most extreme forms," he went on, "gender ideology is outright child abuse. They are paedophiles."
↑ "Elecciones 2023". Argentina.gob.ar (in Spanish). Dirección Nacional Electoral. 2023. Archived from the original on 29 November 2023. Retrieved 29 November 2023.
↑ "Elecciones 2021". Argentina.gob.ar (in Spanish). Dirección Nacional Electoral. 2021. Archived from the original on 16 August 2023. Retrieved 16 August 2023.
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