In November 2023, Javier Milei was elected President of Argentina inheriting a country in deep economic turmoil. Hyperinflation had reached 211%, the economy was in recession, with majority of Argentinians living in poverty. Milei’s radical libertarian economic agenda, marked by aggressive spending cuts, deregulation and privatization was met with deep scepticism.
Now, a year into his presidency, Argentina’s economy has defied expectations. For the first time in 123 years, the country has eliminated its fiscal deficit. Inflation has dropped to around 100% annually. The peso has stabilized against the US dollar, with Argentina emerging from a deep recession. In addition, despite concerns over the president’s inflexibility the government passed a large reform package intended to attract investment. Supporters deem these developments as an economic miracle. Critics, however, warn that Milei’s austerity measures will deepen social inequality, hollow out the industrial sector and the government continues to intervene in currency markets.
The session will cover:
- How are Milei’s reforms shaping Argentina’s political and economic landscape?
- How likely is it that Argentina will return to international capital markets in 2025 and renegotiate the country’s defaulted debt?
- How are Milei’s policies affecting the Argentinian population, particularly in terms of economic stability and social welfare?
- What are the wider political and economic implications of Milei’s reforms for the broader region, especially in light of Donald Trump’s victory?
A drinks reception will follow this session.
Please contact the events team if you would like to be added to the wait list for the event.
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