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Weekly Report - 14 December 2023 (WR-23-50)
Milei takes office, revving up chainsaw
As inaugural addresses go, Javier Milei’s must rank as one of the most downbeat. Milei took office on 10 December cautioning that things were about to get a lot worse in Argentina. Determined not to repeat the gradualism of former president Mauricio Macri (2015-2019), Milei promised shock therapy from the outset to overcome “an enormous challenge”. His economy minister, Luis Caputo, delivered a similarly bleak assessment in a much-anticipated recorded message on 12 December during which he announced, inter alia, a massive devaluation, which will spur inflation to new heights. It will not be long before the government faces protests on the streets if it fails to turn things around.
- Milei takes office, revving up chainsaw
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