Javier Milei takes office in Argentina
A self-described anarcho-capitalist inherits 200% inflation and cuts the state by a third.
- When
- Known to
- ± 12 hours
- Era
- Contemporary, Holocene
- Where
- Buenos Aires, Argentina · 34.6037° S, 58.3816° W
Milei was inaugurated on 10 December 2023 having campaigned with a chainsaw as a prop. He devalued the peso by 54% in his first week, halved the number of ministries and ran the first fiscal surplus in over a decade. Inflation fell from about 25% a month to low single digits within eighteen months; poverty spiked sharply before falling back. It is the most radical liberalisation attempted by any democracy in decades.