How Javier Milei is turning Argentina's economy around | Ian Bremmer | Quick Take

We've had a first budget surplus that Argentina has enjoyed in over a decade. And monthly inflation, which has been significant highs and impossible for the people, is actually slowing down. After several administrations in Argentina doing their damnedest to destroy the economy, Milei is turning the place around. And by the way, this was not what I expected when the elections were happening.

Check in the comments to watch Ian's initial prediction on Milei's approach to saving Argentina's economy.

Subscribe to GZERO on YouTube and turn on notifications (🔔):    / @gzeromedia  
Sign up for GZERO Daily (free newsletter on global politics): https://rebrand.ly/gzeronewsletter

Ian Bremmer's Quick Take: A Quick Take to kick off your week. And today, I want to take us to Argentina, where newly elected President Javier Milei deserves a round of applause, at least for where we see the country so far in his administration.

We've had a first budget surplus that Argentina has enjoyed in over a decade. And monthly inflation, which has been significant highs and impossible for the people, is actually slowing down. Now, that's a really big deal. After several administrations in Argentina doing their damnedest to destroy the economy, Milei is turning the place around. He's succeeding. And by the way, this was not what I expected when the elections were happening. When he was first elected, I wrote, “expect more economic collapse imminently. ” And clearly that didn't happen. And that's a great thing. for the Argentinean people. I'm happy to be wrong about this. And by the way, I'll be very happy if I could be wrong about Ukraine getting partition, that seems like a tougher one. But nonetheless, what happened and why has he been more successful than I expected? It's worth thinking about.

Well, first of all, what the challenges were. Milei’s party has a thin minority in Congress, so he's had to use presidential decrees to push most of his ambitious economic reforms. He's the weakest president in institutional terms that Argentina has had in modern times. So he's swimming against a really strong current. And the Peronists who control a lot of power in Congress and among mayors and governors and the trade unions. I mean, these are people that would love to see Milei fail. So, first of all, my expectation was that no matter how smart well-thought through his economic policies were likely to be, the desire of the kleptocracy that's been in place for such a long time in having this guy fail and come back to power themselves, would be so strong that he wouldn't have any chance to get anything through.

#argentina @MILEIPRESIDENTE #javiermilei

Want to know more about global news and why it matters? Follow us on:
Instagram:   / gzeromedia  
Twitter:   / gzeromedia  
TikTok:   / gzeromedia  
Facebook:   / gzeromedia  
LinkedIn:   / gzeromedia  
Threads: https://threads.net/@gzeromedia

Subscribe to our YouTube channel and turn on notifications (🔔):    / @gzeromedia  
Sign up for GZERO Daily (free newsletter on global politics): https://rebrand.ly/gzeronewsletter
Subscribe to the GZERO podcast: https://podcasts.apple.com/us/podcast...

GZERO Media is a multimedia publisher providing news, insights and commentary on the events shaping our world. Our properties include GZERO World with Ian Bremmer, our newsletter GZERO Daily, Puppet Regime, the GZERO World Podcast, In 60 Seconds and GZEROMedia.com

#QuickTake #Milei #Argentina