Javier Gerardo Milei[a] (born 22 October 1970) is an Argentine politician and economist who has served asPresident of Argentina since 2023. Milei also served as a national deputy representing theCity of Buenos Aires for the partyLa Libertad Avanza from 2021 until his resignation in 2023 due to him being elected President of Argentina that same year.
Born inBuenos Aires, Milei attended theUniversity of Belgrano, where he obtained a degree in economics, and later obtained a master's degree from the Institute of Social and Economic Development, and another one from the privateTorcuato di Tella University. Milei later became a professor of macroeconomics. He rose to public prominence in the 2010s by appearing as apundit on various television programmes in which he was a vocal critic of the Argentine political establishment.
In the2021 legislative election Milei was elected to theArgentine Chamber of Deputies, representing the City of Buenos Aires for La Libertad Avanza. As anational deputy, he limited his legislative activities to voting, focusing instead on critiquing 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 the2023 presidential election, on a platform that held the ideological dominance ofKirchnerism responsible for the ongoingArgentine monetary crisis.
Milei is of paternalItalian descent. His grandfather came fromRossano in theCalabria region ofSouthern Italy in 1926.[9][10] His father's maternal great-grandparents came from the municipalitiesFrancavilla in Sinni andPignola in theBasilicata region ofSouthern Italy. On his maternal side, he is ofCroatian and Italian descent. His mother's paternal grandparents and great-grandparents came fromJelsa on the island ofHvar and settled inSan Lorenzo, a department in the province ofSanta Fe in Argentina.[11] His mother's maternal grandparents came fromSan Severino in theMarche region ofCentral Italy and settled also in San Lorenzo.[12] Furthermore, Milei revealed in 2024 that his grandfather, a great influence in his life, discovered that hewas a Jew frommatrilineal descent shortly before his death. His grandfather's maternal grandfather had been arabbi.[13]
Milei says he was subject toabuse during his childhood, and after he moved away from home as a young adult, he did not speak to his parents for a decade.[14][5] By 2018 he had stopped talking to them entirely and regarded them as dead.[15] Milei has said the abuse he suffered contributed to his ability to handle adversity.[16] He was supported by his maternal grandmother and his younger sister,Karina,[1] with whom he shares a close bond[17] and whom he calls "the boss".[18] Milei attendedCatholic schools,[1] including the Cardenal Copello secondary school.[4] At school, he was nicknamedel Loco ("the Madman") for his outbursts and passionate rhetoric.[1] In his late teens and early adulthood, Milei sang in thecover band Everest, which mostly playedRolling Stones covers. He also playedgoalkeeper for theChacarita Juniors football team until 1989,[6][19] when Argentina suffered fromhyperinflation, and he committed to a career in economics.[20]
The collapse ofArgentina's exchange rate led to Milei's interest in economics in the early 1980s.[4][6] Milei studied introductory economics and the law ofsupply 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.[21]
He specializes ineconomic growth and has taught courses in economics at Argentine universities and abroad. He was the author of more than 50 academic papers by 2016.[22][23]By 2016, he became chief economist at Máxima AFJP, a private pension company, and served as head economist at Estudio Broda, a financial advising company, and Corporación América. Additionally, he was a government consultant at theInternational Centre for Settlement of Investment Disputes[22] and a senior economist atHSBC Argentina.[22] 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.[22] He is also a member of theB20 and a member of the Economic Policy Group of theInternational Chamber of Commerce, an advisor to theG20. For 15 years,[when?] he worked at the private company Corporación América as the chief economist and financial adviser toEduardo Eurnekian.[24]
Milei is the author of several books,[25] includingEl camino del libertario.[26] 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.[27] Milei also hosted his own radio show,Demoliendo mitos (Demolishing Myths),[28] featuring regular appearances byAlberdian andright-wing libertarian personalities, including the economist and businessman Gustavo Lazzari, the lawyer Pablo Torres Barthe, and the political scientist María Zaldívar.[29][30]
During the 2010s, Milei appeared frequently in televised debates where he often insulted his debate partners,[31][32][33] used foul language[34][35] and aggressive rhetoric when debating and when expressing ideals and beliefs,[36][37] such as in a debate with Buenos Aires chief of governmentHoracio Rodríguez Larreta.[38][39] This led many commentators to label him antipolitical or disruptive.[40]Ted Cruz, a United States senator, jokingly proposed inviting him to the2024 Republican Party presidential debates.[41]
In February 2017, Milei consideredDomingo 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.[42] In November 2017, he caused a stir by declaring that "the main producer of Argentina's economists is a Marxist indoctrination center", referring to theFaculty of Economic Sciences, University of Buenos Aires, leading to what he called "the ubiquitous proliferation ofKeynesian brutes".[43]
On 26 June 2018, Milei called journalist Teresita Frías dumb after she called his ideological views totalitarian.[44][45] 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 ofMetán, under the threat of legal action.[46][47] In 2018, he made his acting debut in his playEl 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 againstAlberto Fernández's government.[4]
From 2020 to 2021, Milei was a member ofAvanza Libertad (Advance, Freedom), a political party founded byJosé Luis Espert.[48] During his campaign for theArgentine Chamber of Deputies, Milei focused on Buenos Aires neighborhoods, where he took strolls and had talks with ordinary people.[49] He pledged not to support any tax increases or new taxes.[50] 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,[51][52][53] which he said was composed of "useless, parasitic politicians who have never worked".[54] He called politicians "rats" and said they form "a parasitic caste" that thinks only about getting rich.[55] He used phrases like "I'm here to kick these criminals out"[1][56] and was especially supported by youth;[57] he promoted his political views on television, radio, andYouTube.[4] Additionally, Milei reconciled with his parents.[58]
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,[65][66] 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.[67] As a national deputy, as of April 2023, Milei had been present in the chamber 52 percent of the time.[68] As of August 2023, he had not proposed any laws or joined any parliamentary commissions.[69][67] One of his absences was particularly criticized by theJuntos por el Cambio opposition because it allowed the national government to raise taxes on plane tickets by a single vote.[70][71][72]
In July 2023, Milei faced an investigation into the alleged selling ofcandidacies within La Libertad Avanza.[73][74] BusinessmanJuan 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 byPeronism. 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".[75] 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[76] and demanded that Ramiro González be investigated, accusing him of damaging his image.[77] The case was closed in March 2024, as the prosecutor could not find enough evidence to make a formal accusation.[78]
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.[79][80][81]
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.[82]
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.[83][84]
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."[84]
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 betweenAR$30,000,000 andAR$40,000,000 (approximatelyUS$300,000 at the time). According to its website, Coinx World operated in Argentina, Brazil, and El Salvador.[80][85]
A member of theLibertarian Party, Milei ran forpresident of Argentina as part ofLa Libertad Avanza, aright-wing political coalition. His running mate wasVictoria Villarruel.[86][87] His younger sister, Karina Milei, managed his campaign.[4] In May 2022, Milei was rising in the polls.[88] In June 2022, he officially launched his presidential campaign.[89] 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 the1998–2002 Argentine great depression and facing the still ongoingeconomic 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.[55] 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.[90][91][92][93]
As annual inflation rose above 100 percent in May 2023,[94] Milei's position in the polls rose.[95] In June 2023, the markets welcomedSergio Massa's presidential candidacy, as it polarized the election between the ruling party andJuntos por el Cambio, reducing the "Milei factor".[96] 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 saidafuera ("out"),[97] wielding achainsaw on stage,[98] smashing a piñata on air to symbolize his plans, callingPope Francis "a filthy leftist", and praising American gangsterAl Capone as "a hero".[99]
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,[100] Milei emerged as the leading candidate,[101][102][103] with 30 percent of the vote, ahead of the traditional Peronism–Kirchnerism andMacrism that dominated the country in the 2010s.[4] Milei's victory was celebrated by right-wing figures, includingJair Bolsonaro,[103]José Antonio Kast,[103]Ted Cruz,[41] and the Spanish conservative[104] political partyVox.[105] 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;[106] Milei polled at about 20 percent[4] and was seen as an outsider candidate.[107][108] Initially, for the first round of the general election, with the possibility of a runoff in November,[109] Peronists saw Milei as a possible ally who would divide the votes of theJuntos por el Cambio coalition.[110]
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 ofMauricio Macri and Alberto Fernández. On 22 October, Milei advanced to the runoff, facing Massa[111] in what polls showed as a tight race.[112] In the runoff on 19 November, Milei defeated Massa in a landslide[113][114][115] and a historic election.[116] It was the highest vote percentage sinceArgentina's transition to democracy. Observers generally saw Milei's win as a sign more of discontent with thestatus quo than support for his politics,[99] and his victory was likened toDonald Trump's in the United States andJair Bolsonaro's in Brazil.[117][118] Within the Argentine Congress, Milei's coalition achieved about 20% in the Chamber of Deputies and 10% in the Senate.[119] In his victory speech, Milei pledged a new political era,[120][121] vowing to begin "the reconstruction of Argentina" and end its economic decline.[121]
As of 1pm, 23% of the electorate had voted by noon. This was notably lower than 2023, where voter turnout was 30.3% by noon.[122] At 9:25pm, results were published, with La Libertad Avanza in first place with 40.84% of the vote, much stronger than expected,[123] and the oppositionPeronist coalitionHomeland Force in second place with 31.63% of the vote.[124][125] Turnout was lower than usual, at 67.85 percent of the 36million eligible voters – the lowest tally for a national election since the return of democracy in1983. Prior polling forecasted La Libertad Avanza attaining 30 to 35% of the vote.[126] Several American media outlets reported the strong win as a renewed mandate for Milei’s policies.[127][128][123]
Milei took office as president on 10 December 2023, amidst a lack of support in Congress,[129] an annual inflation rate approaching 200%,[130] rising poverty, and a polarized population as challenges for his presidency.[131] His foreign minister,Diana Mondino, announced that Argentina would not join theBRICS bloc of developing economies, as had been planned for 2024.[132] In his first speech as president, Milei warned of aneconomic shock, described asshock therapy in monetary terms, to be used to fix Argentina's financial woes.[133][134][135] 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.[136]
Milei's cabinet includes ministers fromLa Libertad Avanza andJuntos por el Cambio.[137][138][139] 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.[140][141]
Milei signedDecree 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][142] As part of the measure, an estimated 5,000 public sector employees were expected to be affected.[143] An Argentine court halted the labor reforms that were part of the decree.[144] The CGT also organized ageneral 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.[145][146]
In March 2024, when Argentina submitted a complaint against Venezuela to theInternational Civil Aviation Organization for violating theConvention on International Civil Aviation, Milei and Venezuelan PresidentNicolás Maduro traded accusations.[147] That month, Milei approved the transfer of two militaryMi-171E helicopters to Ukraine, which it later received.[148] On 18 April, Argentina formally submitted a request to become aNATO global partner.[149] 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.[150] These protests occurred in the context of broad, general approval according to a poll published byClarín on 7 June 2024, where most Argentines had a positive image of their president and an optimistic view of future economic measures.[151] Under his watch, Argentina exited deficit for the first time in 123 years.[152] In a speech given to theWorld Economic Forum, Milei encouraged a worldwide push for libertarianism, claiming Argentina's was a successful example. He also stated that "radical feminism" was a "distortion" of equality.[153]
In 2024, legal scholarManuel García-Mansilla was nominated to fill the vacancy left by MinisterJuan Carlos Maqueda and Ariel Lijo was nominated to fill the vacancy left byElena Highton de Nolasco to theSupreme 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, andHuman 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".[154][155] 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,[156] in what was branded as a tactical alliance betweenUP andPRO. The primary reason was the majority of senators disapproval of appointment by decree to theSupreme Court which was described as a political defeat for Milei.[157]
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 restricted, 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 spokesmanManuel 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.[158]
On 18 May 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 since taking power in Buenos Aires two decades ago, with only 16%.[159] 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.[160]
On August 2025, Karina Milei, who holds the post of Secretary General of the Presidency and is a close adviser and sibling to President Javier Milei, had been implicated in a corruption scandal centering on alleged kickbacks from pharmaceutical contracts managed through Argentina's National Disability Agency (ANDIS). The allegations emerged after leaked audio recordings from Diego Spagnuolo, the former head of ANDIS and previously a lawyer for Milei, in which he claims that companies seeking disability-related contracts were pressured to pay an "8% commission" (kickback) on contracts, a portion of which would go to Karina Milei and her associate Eduardo "Lule" Menem.[161] The scandal has been politically damaging as it contradicts Milei's public image as an outsider committed to fighting corruption; it has provoked public outrage, especially given that the alleged misconduct involves contracts aimed at vulnerable populations; and it may have electoral consequences for his party (La Libertad Avanza) in forthcoming legislative elections.[162] Though there is no evidence that Javier Milei had a role in the scandal, it still affected his chances of winning the electoral vote in Buenos Aires, resulting in a Peronist victory.[163]
On September 7 2025, following weeks after Karina's scandal came to light, Milei's party had lost a key electoral election in Buenos Aires, with La Libertad Avanza attaining 33% of the votes while the Peronist opposition received 47%. President Milei conceded defeat and reflected on the reasons for the loss, but vowed to not repeat his mistakes and to accelerate his economic agenda ahead of schedule.[163][164]In 2023, Peronism got 4.3 million votes (about 45%) while LLA received 2.3 million. This time, it got 3.8 million vote while LLA attained 2.7 million votes. Voter turnout was only 61%.[165]
On 10 September 2025, Milei reorganized theSecretariat of the Interior into a ministry, reversing a downgrade in 2024 that he had made as part of his pledge to reduce public deficits and the size of the government. This occurred amid La Libertad Avanza losing heavily in the2025 Buenos Aires provincial election.[166] In October 2025, President Javier Milei's party, La Libertad Avanza, won a landslide victory inmidterm elections, making it easier for Milei to push ahead with his programme of radical spending cuts and free-market reforms.[167]
Javier Milei, following a strong showing in the recent mid-term elections where he tripled his presence in Congress, has embarked on a drive to solidify his reform agenda in Argentina. First, he convened governors and the Buenos Aires mayor at the Casa Rosada, gathering 20 out of 23 provinces (while excluding four Peronist leaders) to build consensus around his 2026 Budget and structural reforms focused on labour, tax and penal-code changes. Concurrently, he announced a sweeping “new economic roadmap” to be deployed once the new Congress seats in December, featuring major labour, tax and pension overhauls aimed at restoring fiscal balance, formalizing informal work, simplifying the tax burden and protecting private property — part of his broader vision of making Argentina “the freest country in the world.”[168][169]
In 2024, under President Javier Milei, Argentina saw major economic changes, focusing onausterity,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 five-year low of 2.2% in January.[170][171][172] Milei cut government positions by approximately 52,000, a reduction of between 9.6% and 15.7%; reduced salaries of high ranking officials; and shut down the tax agency (AFIP), replacing it with a smaller one, saving billions.[173][174][175][176][177] While poverty rose to 57% early in 2024, it declined to 38.1% by Q3, with homelessness also decreasing.[178][179]
The economy shrank in early 2024, but grew 3.9% in Q3, helped by an 80.2% rebound in agriculture. The Argentinepeso strengthened by 44.2% against the U.S. dollar, boosting average wages in dollar terms to $990.[180] 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%.[181][182] They have mostly rebounded back to their November 2023 levels, ending the first year of his presidency as an economic success.[183][184][181][185]
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.[186] 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.[187][188][189][190][191][192][180] Argentina's market risk assessment fell below 500 points for the first time since 2018.[193][194]
2025 was a turbulent year for Milei. Inflation had become 1.5% a month, and poverty had markedly fallen to 31.6%, the lowest it had been since 2018. In the first half of 2025, reports indicate that the middle class grew by 7.7 million, rebounding back to pre-pandemic levels of 39%[195][196][197] Moody's have increased Argentina's rating from 'Ca' to 'Caa3 as Argentina's economy demonstrates solid recovery progress. GDP is expected to grow 5.5% in 2025, and average wages increased 20.7% in the first half of 2025, outpacing the country's 15.1% inflation rate.[198] Milei has contended that a fiscal surplus remains non-negotiable, with a target of 1.6% for 2025.[199]
Karina's scandal and the subsequent loss of the legislative elections in Buenos Aires resulted in backlash from the markets, temporarily jeopardizing the macro-economic situation that Milei had dedicated his presidency to date, as the market feared that Milei losing the midterm elections would result in the stifling of his agenda.[163] The meltdown caused Argentina to blow through 1 billion dollars of reserves to uphold the peso. U.S. Secretary of the Treasury Scott Bessent's announcement that all options are available between the American treasury and Argentine government halted the gradual implosion.[200][201] The economic reforms and policies have had a significant impact on the average Argentine, as some common expenses such as private school tuition and health insurance plans have risen above CPI.[202]
Despite soaring disapproval ratings, Milei achieved victory in the legislative elections of 2025, attaining a larger than expected share of votes. The victory galvanized the economy, leading towards bonds increasing by 23% in a day, the Argentine stock market growing by 70% compared to last month and the peso briefly appreciating in value. The country risk index dropped by 40% after the elections.[203][204][205]
Inflation was the foremost largest issue dominating contemporary Argentine politics, as it spiraled out of control during and for some time after the elections of 2023.[206] The issue had been a consistent phenomenon throughout the history of Argentina, a country whose economy had been mismanaged for decades.[207] Milei, convinced that the Peronist establishment largely caused the economic crisis, made it his main objective during the first and second year of his presidency to stop the situation from getting worse through anti-inflationary economic policies, and to diminish the influence of Peronism.[208][209] Annual inflation stood at 254.2% in the first month of Milei's term,[210][211] and reached a peak of 300% in May 2024.[197] Monthly inflation slowed in 2024 as Milei continued to push austerity and deregulation measures to revive the country's struggling economy.[212] Annual inflation rate came in at 39.4% in July 2025.[213] On the same month, monthly inflation reached a 5-year low of 1.5%.[197]
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%.[181][182] In 2024, wages rose by 145.5%, outpacing the 117.8% inflation rate for the first time since 2021, according to INDEC. According to Nowcast, the year-over-year increase in total family income (ITF) reached 185.7%. 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%.[184][181][185] Continuing this trend, wages have risen by 20.7% in the first half of 2025, above an inflation rate of 15.1%.[214]
The defeat in the local elections in Buenos Aires scared the market, with investors afraid that Milei will not be able to maintain his free market agenda in his presidential term.[215] Victory in the legislative elections caused the Peso to rally temporarily before stabilizing again.[216]
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 it is "the only way". "There is no alternative to a shock adjustment", Milei said during his inauguration. "There is no money."[217] In June 2024, Milei was able to pass his tax and 'omnibus' bill. The bill, watered down significantly from its original form, 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.[218]
President Javier 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 has resulted in a financial surplus for 6 consecutive months for the first time since 2008.[219] The reforms have led to 9.6% of all federal employees (approximately 52,000) being laid off, saving the government nearly 2.1 billion in taxes.[176][177]
Milei's repealing of rent controls in December 2023 has caused rental unit supply to increase by 190%. This resulted in a 40% decline in real price of rental properties when adjusted for inflation.[220][221][222] Inflation-adjusted rents have remained relatively stable since. From January to May 2025 rents have increased by 1.6% after adjusting for inflation.[223][224]
Real (inflation-adjusted) rents declined by around 40% after rent control was abolished, using data from Zonaprop and INDEC
"He has done more good than many people expected", said Alejandro Werner, a former official with the International Monetary Fund. "Maybe I would choose to do it a different way. But, sometimes, to change things, you need somebody that’s a little bit of a fanatic to really move the needle. And he has done it." Though the macroeconomic side had become stabilized, the societal consequences were palpable. Patience towards president Milei's reforms runs thin as his economic reforms cuts into salaries and pushes up the cost of living.[207]
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.[225] In response, his government pointed out that poverty rates were already rising under previous administrations. According to INDEC, poverty rates fell to 38.1% during the third quarter of 2024.[178][179] Conversely, the Catholic University of Argentina (UCA) estimated poverty for the same quarter as 41.6%, adjusted for the reduced consumption rates as well as rising healthcare costs.[226][227]
The Ministry of Human Capital estimated a drop in poverty during the first quarter of 2025 from 38.1% to 31.7%. An economist working for CEDLAS (Center for distributive, Labour and Social Studies), estimates that between October 2024 and March 2025, the poverty rate dropped to 34.4%.[228] A report published in July 2025 largely confirmed these predictions, finding that Argentina's urban poverty rate dropped to 31.6% in the first half of 2025, its lowest level since 2018. Extreme poverty also decreased from 18.2% to 7.4% annually.[229]
INDEC reported the official poverty rate to be 31.6% of the general population in the first half of 2025, with household poverty coming in at 24.1%. The UCA disputes the magnitude of the reduction, arguing that INDEC uses a faulty methodology (though not with the intention to commit fraud) but concurs that poverty has indeed notably decreased.[230][231]
In June, during a meeting in Berlin, Milei and German chancellorOlaf Scholz expressed support for afree trade agreement between the EU andMercosur.[232] An agreement on the free trade deal was announced on 6 December 2024.[233]
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.[194][234][235][236][237] The possibility of a peronist victory led towards the market reacting with fear, resulting in the peso depreciating and the central bank having to spend a billion dollars to maintain the currency in its bandwith. The market risk index surged due to this reaction.[201][200]
By June 2025 foreign inflows of cash grew constrained in Argentina falling 54% in 2024, and as of April 2025 stands at a $3 billion deficit.[238][239]
On September 2025, the possibility of Milei losing the midterm elections sent shockwaves throughout the Argentine market, leading towards intervention by the central bank.[240][200] U.S Secretary Scott Bessent's announcement that a 20 billion dollar swap line for Argentina was ready, which halted the market meltdown, leaving it in a fragile state.[241] Milei's attempt on stabilizing the currency has lead towards an increase in purchasing power, which Argentines have exploited by travelling abroad. This has cost the government billions.[242] Mr. Milei is testing the patience of ordinary Argentines, as his economic reforms cuts into salaries and pushes up the cost of living.[207]
Shortly after Milei's strong performance and victory in the 2025 legislative elections, the Argentinian bond market surged, with dollar notes due in 2035 having increased by 23% in one day.[243] Argentina's risk index plummeted by 40% (1081 to 652) in the same day.[244][245]
Seeing the relative stability of Argentina's economy post elections, US banks revisited the deal for a 20 billion dollar swap, downsizing it to 5 billion dollars.[246]
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 Argentine central bank, as inflation stabilizes and investment starts pouring in, due to Milei's liberalization 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] 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.[183] GDP has proven difficult to increase under austerity, with economists revisioning their 2025 forecast for growth to 5% as the economy shrank by 0.1% in May of the same year.[247]
Moody's have increased Argentina's rating from 'Ca' to 'Caa3' due to the reforms initiated by President Milei.[248]
According to CNN, Argentina's stock index MERVAL soared by 22% one day after Milei's victory in the legislative elections of 2025, indicating significant trust in the Argentine government's ability to continue its liberalizing reforms.[249]
Milei shaking hands withDonald Trump in February 2025Milei with Indian prime ministerNarendra Modi in July 2025
Milei made a radical change to Argentina's traditional foreign policy,[250] aligning Argentina with the United States and Israel.[251][252] Some analysts, like Ayelén Oliva of theBBC News or Walter Schmidt ofClarín, have compared his rapprochement to these countries toPresident Menem's similar policies in the 1990s.[253][254]
Milei's views on theRussian invasion of Ukraine had distanced him from other right-wing figures.[255] He first supported Ukraine in its defense against Russia, andsent military helicopters to Ukraine during the first months of his presidency.[256] Milei also cooled relations with Russia, and has considered sending more lethal aid to Ukraine.[257] However, since the change in U.S. administration in 2025, Milei's government started backing U.S.-ledpeace efforts.[258]
During theGaza war, Milei was a fierce supporter of Israel, vowing his "unwavering" support.[259] Among his measures in support of Israel, Milei declaredHamas as a terrorist organization in July 2024,[260] and ordered the Argentine delegation at the UN tovote against the incoporation of theState of Palestine into the United Nations.[261] Milei also made a state visit to Israel on 6 February 2024, in which he announced plans to relocate the Argentine embassy in Israel fromTel Aviv toJerusalem,[262] and where he visited akibbutz that had been attacked by Hamas militants during theOctober 7 attacks.[263] Milei declared two days of national mourning over the return of the bodies of theBibas family (who were Argentine citizens) on 21 February 2025.[264] On 11 June 2025, while addressing theKnesset, Milei confirmed that Argentina will effectively move its embassy to Jerusalem.[265] On 20 June 2025, while giving an interview, Milei stated thatIran is an enemy of Argentina, citing past terrorist attacks on Argentine soil allegedly supported by the Iranian regime.[266] Milei celebratedIsraeli strikes on Iran, stating that "today is a great day for Western civilization".[267]
In Latin America, Milei dismissed the results of the2024 Venezuelan presidential election as "fraudulent" and called onNicolás Maduro to resign.[268] On 7 August 2024, Argentina became one of the first nations to recognizeEdmundo González as the legitimate President of Venezuela.[269] Milei also met with U.S. Secretary of StateMarco Rubio during thesecond inauguration of Donald Trump and reaffirmed the intention to continue to pressure Maduro to exit power.[270] As a result of the ensuing tensions, Venezuela ordered Milei's arrest and Argentina ordered Maduro's arrest.[271]
Milei and Israeli PresidentIsaac Herzog shake hands inBeit HaNassi in Jerusalem on 6 February 2024
Milei has expressed discontent or strong ideological differences with China,[272] even threatening to cut ties with China during his presidential campaign.[273] In the immediate aftermath of Milei's electoral victory, thegovernment of Taiwan congratulated Milei and said that Taiwan would seek to strengthen ties with Argentina.[273] Moreover, it was rumored in December 2023, that then Foreign MinisterDiana Mondino had held a meeting with a Taiwanese official, raising suspicions of Taiwanese financing of Milei's presidential campaign.[274] In response to these allegations, China's ambassador to Argentina Wang Wei issued a statement reaffirming the principle of aOne-China, adding that Taiwan is an "inalienable part of China" and an internal affair as well.[275] Following threats by the Chinese government to stop buying soy and meat from Argentina in response to perceived ties between the two governments, the Argentine government clarified that there were no official contacts between Argentine and Taiwanese officials.[274][275]
Javier Milei and Salvadoran PresidentNayib Bukele.
Milei enjoys a friendly personal relationship with former Brazilian presidentJair Bolsonaro and U.S. presidentDonald Trump,[281][282] and attended Trump'ssecond inauguration as President in January 2025 in Washington. Similar to Trump's first measures, Milei expressed intention to withdraw Argentina from theParis Accord and theWorld Health Organization, saying that the government is studying the possibilities of suspending Argentina's memberships.[283] Argentina subsequently announced, on 5 February, that it would withdraw from WHO, citing "deep differences" with the organization.[284] On 27 May 2025, during a meeting withUS Secretary of Health and Human ServicesRobert 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.[285]
That same month, Milei ordered to vote in favor of the US embargo on Cuba. It was the first time in history that Argentina supported the blockade, voting along six other countries: the US, Israel, Hungary,Paraguay,North Macedonia, and Ukraine.[288][289]
In response, opposition politicians inCongress called for Milei's impeachment, and a group led byClaudio Lozano [es], the leader of the oppositionPopular Unity party, filed charges of fraud against Milei.[296][297][298] However, the initiative does not have enough supporters in the Impeachment Commission to proceed with the proposal.[299] Milei conceded that promoting the coin was a mistake on his part, noting that he did not participate in its development.[300] However, reports suggest close associates of Milei, Mauricio Novelli and Manuel Terrones Godoy, were in touch with LIBRA's creatorHayden Davis, who was responsible for the launch of the token.[301] 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.[302] 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.[303][304][305] 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.[306] Milei's lawyer stated that Milei's behaviour "does not constitute any crime, due to the lack of intention".[300] Milei also stated in an interview that he would seek legal advice fromMariano Cúneo Libarona, theminister of justice, an action seen as an acknowledgement that the promotion was an official action as president.[307] However, he also argued that the "volatility traders" who lost funds understood the risks involved.[305]
In aGallup 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 Argentines 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 Argentines believe that 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.[186]
Through 2024 in to March 2025, Milei'sapproval rating declined from 49% to 47% with his disapproval numbers rising from 48% to 49%. His two predecessors,Alberto Fernández andMauricio 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 negotiations and the handling of the Bahia Blanca natural disaster.[308][309]
The corruption scandal revealed in August 2025 had a profound impact on Milei's approval rating, shifting from a steady 48% just a month before to 39%. In late August, local outlets released audio recordings that allegedly captured a high-ranking government official talking about bribes and implying that Karina Milei, the president's sister and chief of staff, was receiving kickback payments. Javier Milei has rejected the claims as false, while Karina has not publicly addressed them. His supporters have claimed that his opponents, the Peronists and Kirchnerists have framed or otherwise.[310] Despite the scandal Milei's party, La Libertad Avanza remains as one of the most popular parties in Argentina.[311]
On September 25, 2025, the approval rating for Javier Milei was at an all-time low of 32.1%, largely due to the Jose Espert's - La Libertad Avanza's lead candidate for the Chamber of Deputies in Buenos Aires Province - ties to drug traffickers being exposed as well as the economic crisis of September 2025.[312][313] Despite disapproval ratings soaring, Milei's party - La Libertad Avanza - attained a larger than expected victory in the legislative elections of 2025, with 40.66% of votes going to LLA. In Comparison, The Peronist coalition Fuerza Patria orHomeland Force finished in second place with 31.7% of the vote.[314] According to political scientist Carlos Fara, the rejection of Peronism “carried more weight” than the recent political and corruption scandals surrounding Milei’s government, the run on the peso and “the fatigue with the President’s leadership style." This was reflected in the low turnout of 67 percent, the lowest figure since 1983 in a country with compulsory voting.[315]
Economically, Milei is influenced by theAustrian school, and admires former PresidentCarlos Menem's policies.[320] He supportscapitalism, viewing socialism as embodying envy and coercion.[316] Milei proposes reducing government ministries and addressing economic challenges through spending cuts and fiscal reforms, criticizing previous administrations for excessive spending.[4][321] He has praised the monetary policies of former British prime ministerMargaret Thatcher and called her "a great leader".[322][323][324]
Milei advocates for dialogue with theUnited Kingdom over theFalkland Islands sovereignty dispute.[56] In May 2024, he indicated, for the time being, his general acceptance of theFalkland Islands' status as aBritish 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".[343]
Milei has cultivated a complex and controversial public image marked by a blend ofpopulist, right-wing libertarian, andconservative ideologies. Known for hisultra-liberal economic views andright-wing populist rhetoric, Milei's political stance has been subject to various interpretations by international media and political commentators.[55][56] His rise to prominence during the 2023 presidential campaign, fueled by his primary win, sparked widespread attention,[101][102][103] as did hiscentral bank abolition anddollarization proposals.[344]
Milei is known for his flamboyant personality, distinctive personal style, and strong media presence, which sometimes causes controversy, and his embrace ofconspiracy theories,[345] including theCultural Marxism conspiracy theory.[346] He has also called the idea ofclimate change as an anthropogenic phenomenon "a socialist lie" and said that concerns about it are nothing more than "deceptions promoted by the neo-Marxists",[347][333] as are those related to theattempts to overturn the 2020 United States presidential election.[348] EchoingDonald Trump, he also claimed electoral fraud ahead of the 2023 presidential runoff.[349][350] Like other right-wing populists, his rhetoric focuses on opposing what he calls "the political caste".[351] Milei's party was criticized for including among his candidates apologists for theNational Reorganization Process.[75] 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.[40]
Milei withElon Musk holding a chainsaw; the chainsaw has become a popular symbol associated with Milei.
Thechainsaw has become an enduring and popular symbol associated with Milei[366] (he has been called the "chainsaw candidate"[367]), specifically symbolizing his "cutting" of regulations, bureaucracy, andred tape in Argentina. Some commentators have called Milei's economic policy of cutting regulations "chainsaw economics".[368] Milei's supporters often carry chainsaws at rallies, symbolizing "his promise to cut down the size of the state".[369] 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.[370]
Milei is unmarried and, while he was a presidential candidate, said that, if elected, he would havehis sister take the role ofFirst Lady of Argentina.[351] However, in December 2023, after winning the presidency, he announced that his government would not have a first lady.[374] He called the role "anachronistic" and declared that this decision was taken after discussions with both his sister and his girlfriend, actressFátima Flórez.[374] Milei originally announced he was dating Fátima Florez in August 2023.[375] Previously, he dated singerDaniela Mori [es].[376]
While raisedCatholic,[377][378][379] Milei had been critical of theCatholic Church underPope Francis,[380][381] and his disparaging comments about Francis attracted criticism from Catholics.[382][383] Conversely, Milei would later embrace Francis after meeting him, stating in aRetequattro interview, "I had to reconsider some positions, and starting from that moment, we began to build a positive relationship."[384][385] Milei also reads theTorah daily and has visitedthe grave of Orthodox rabbiMenachem Mendel Schneerson.[386][387][388] Before November 2023, Milei said he had contemplatedconverting to Judaism but that observing theJewish Sabbath could pose challenges if he became president.[344][389][390] Upon being elected president, it was reported that Milei intended to convert to Judaism.[379] Milei has confessed that he professes a "fanaticism" forJudaism.[13]
Milei owns five clonedEnglish Mastiffs, their progenitor beingConan, who died in 2017 after suffering fromspinal cancer.[75][360][391] He considers Conan his son (a form ofpet humanization), and has named four of Conan's sixclones, including one named after the original and another named Angelito,[392] Milton (in honor ofMilton Friedman), Murray (in honor ofMurray Rothbard), Robert, and Lucas (both named afterRobert Lucas Jr.).[393][394] Milei said that he cloned Conan because he understands cloning as "a way of approaching eternity".[391] To do this, he went to a clinic in the United States: the process cost him about $50,000.[391] He has called his dogs his "four-legged children", and thanked them after his electoral win.[4][395] 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 ofcyanosis.[396]
Milei is an avid fan ofassociation football. Albeit having played forChacarita Juniors in his early adulthood, he has stated to be a supporter ofBoca Juniors; in a 2024 interview withRadio 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?"[397] However, he has expressed criticism of the presidency ofJuan Román Riquelme at the club since 2023, stating that his "management at Boca is a disaster" and referred to Riquelme as "aKirchnerist running the club".[398] Milei is a huge fan of the English rock bandThe Rolling Stones.[399]
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— (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.
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^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. Retrieved23 November 2023.
^"Javier Milei claims extreme gender ideology is 'child abuse'". UnHerd. 2025. Retrieved29 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. Retrieved29 November 2023.
^"Elecciones 2021".Argentina.gob.ar (in Spanish). Dirección Nacional Electoral. 2021.Archived from the original on 16 August 2023. Retrieved16 August 2023.