"We're backing him 100%, we think he's done a fantastic job. Like us, he inherited a mess. Donald Trump gave his enthusiastic endorsement to Javier Milei's radical economic experiment, when the pair met in New York last week. The US has declared itself ready to offer more than rhetorical support to the chainsaw-wielding Argentine president in the coming days, as Buenos Aires stands on the brink of a fresh financial crisis."
"Like the Thatcher governments in the UK, Milei sees slaying the dragon of inflation as an overriding priority. The challenge in Argentina is on a completely different scale to 1980s Britain: the inflation rate peaked at more than 25% a month soon after Milei came to power. But aspects of his approach, including a systematic onslaught on trade union rights, public spending cuts and a wave of privatisations, have echoes of Thatcherism."
Donald Trump endorsed Javier Milei and the US signalled willingness to provide financial support as Argentina faces a fresh crisis. US Treasury secretary Scott Bessent proposed options including a possible $20bn Federal Reserve dollar swap line or direct US purchases of Argentine bonds. The move follows past US interventions for Argentine governments. The US willingness appears aimed at propping up an ideological ally by deploying economic tools for political ends. Milei rose to power promising to dismantle the establishment and prioritize reducing hyperinflation. His policies mirror Thatcherism with attacks on trade union rights, public spending cuts and widespread privatisations. Inflation peaked above 25% monthly soon after he took office, and he lacks a parliamentary power base.
Read at www.theguardian.com
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