Milei Warns of Painful Economic Fixes in Argentine Presidential Debut
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Argentina's new president, Javier Milei, gave an inaugural speech warning of painful economic adjustments ahead. He said there is no time for "sterile discussions" and immediate action is needed.
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Milei stated Argentina doesn't have the money or margin to take a gradualist approach. He promised the adjustments will mostly impact the state rather than private sector.
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Milei blamed previous governments for leaving Argentina on the brink of its biggest economic crisis ever, with high inflation, a weak currency, fiscal deficits, and large debts.
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Milei broke tradition by giving his inaugural address to supporters outside rather than to lawmakers inside congress, symbolizing his anti-establishment platform.
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As president, Milei has tapped mainstream economic experts for key posts, moderating some of his more radical campaign pledges like dollarization. But he still plans major state downsizing.