Argentina's new elected leader reveals privatization strategies following election win

(MENAFN) Argentina's newly elected right-wing president, Javier Milei, a self-described "anarcho-capitalist" and libertarian economist, outlined his initial strategies on Monday to reshape South America's second-largest economy through a series of privatizations. Milei, who secured a resounding victory with 55.7 percent of the vote in the presidential runoff election, expressed his intention to expedite the privatization of state-owned media outlets and explore similar measures for other public enterprises. In an interview with Buenos Aires station Radio Mitre, Milei asserted that his approach involves transferring everything possible from the public to the private sector.

While experts raised questions about the feasibility of implementing such extensive privatizations without substantial support in Argentina's National Congress, where Milei's party holds a relatively small number of seats, some analysts noted that his decisive electoral win could provide him with leverage in navigating the political landscape. Mariano Machado, principal analyst for the Americas at Verisk Maplecroft, a global risk intelligence firm, emphasized that Milei's victory signals control over the transition and Cabinet formation.

Milei criticized state-owned media outlets as a "covert ministry of propaganda" and expressed dissatisfaction with their negative coverage during the presidential race. He revealed plans to privatize these outlets, emphasizing a commitment to reducing the size of the state and addressing Argentina's triple-digit inflation. Key proposals include halving the number of government ministries to eight.

Amid Milei's bold initiatives, he affirmed his desire to close the Central Bank of Argentina, describing it as a "moral decision." However, he appeared to postpone plans to replace the local currency, the peso, with the U.S. dollar. Milei's presidency is poised to bring significant economic changes, and his early declarations offer insights into his vision for transforming Argentina's economic landscape.


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