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Weekly Report - 30 November 2023 (WR-23-48)

ARGENTINA: Maverick Milei or Macri’s Milei?

Considerable uncertainty remains but there are early indications that Argentina’s far-right president-elect Javier Milei is tacking towards more right-of-centre waters. Milei named Patricia Bullrich, who finished third in the presidential elections for the Juntos por el Cambio (JxC) coalition, as security minister in his incoming government on 23 November, reprising a role she held under former president Mauricio Macri (2015-2019). But the key announcement came five days later after a visit to the US for talks with a top adviser to President Joe Biden, the US Treasury, and the International Monetary Fund (IMF): Luis Caputo, the former Macrista finance minister who accompanied Milei on the trip, will serve as economy minister. Caputo will have a moderating influence, although Milei insists, for now, that “dynamiting” the central bank (BCRA) remains on the agenda.

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