Argentina’s President Milei firmly advocates for a return to capitalism, asserting that there is no alternative plan
Highly conservative new Argentinian president Javier Milei stated bluntly, “Every single state company that I can sell I will do as soon as possible.”
Milei conducted an exclusive interview with Wall Street Journal Editor-in-Chief Emma Tucker, who asked, “I want to know how long you think the Argentine people can wait to see signs that your plan is working.”
“They understand that this process can take about two years,” Milei, who promised to change the currency from the peso to the U.S. dollar and close the Central Bank, answered. “And even if there’s a warning sign, saying it is hard to bear the austerity for more than a year, the truth is that when we begin to see the way in which the data is flowing and how inflation is moving, we ourselves are surprised at the speed with which we are achieving results.”
“You were just in Davos, and your speech in Davos generated a lot of attention,” Tucker noted. “I want to know, what else do you need from your supporters beyond words? Is, for example, Argentina receiving new investments?”
“It is true that we would need investments because one of the things that happens is that when you make fiscal adjustments, you increase savings. If those savings are not paired up with investments, economic activity drops, followed by employment rates, and finally real wages,” Milei replied.
“Privatization. How quickly do you plan to move forward with your agenda?” Tucker asked.
“As fast as I can,” Milei stated. “Every single state company that I can sell I will do as soon as possible. The thing is that there are institutional restrictions.”
“Where will you start? With Aerolineas Argentas? The trains?” Tucker pressed.
“Whatever we can we will privatize. I mean, it’s not a question of naming which companies; it’s just a matter of technical constraints in terms of time,” Milei said. “In the last month, we bought $5 billion and the monetary base in Argentina is close to $8 billion, around $7.5 billion, so that if we finished cleaning up all the interest-bearing liabilities of the Central Bank, we would be able to dollarize for very little money.”
“Are you still thinking about adopting the dollar?” Tucker queried.
“In reality, we have always talked about a free competition among currencies. It’s a matter of what Argentines choose, and it is likely that at an initial moment, they will choose the dollar,” Milei asserted.
“Do you have a plan B?” Tucker asked.
“No. there is no plan B. There is no plan B to do things right. You either do things right or you do them right. Because if plan B is to start doing things halfway or compromise, that’s the story of Argentina, and that’s where we are now,” Milei told her.
What concerns do critics have about the feasibility and sustainability of Milei’s proposed reforms
Mple, the ruling institutions supporting you?”
Milei explained that he needs the support of the Argentine people, not just verbally, but also in actions and decisions. He believes that the Argentine people have been held hostage by the state for too long and need to reclaim their individual liberties and economic freedom.
“I need people to start understanding that the state is not their friend,” Milei stated. “The state has only served to hinder their progress and limit their opportunities. It is time for us to break free from the shackles of the state and let the free market thrive.”
The proposed plan by Milei to sell state-owned companies and change the currency to the U.S. dollar has sparked both support and criticism. Some believe that these measures will help stabilize the economy and attract foreign investment. Others argue that it could lead to job losses and financial instability.
Milei remains confident in his plan and believes that by implementing these reforms, Argentina can become an economic powerhouse in the region. He points to countries such as Singapore and Hong Kong as examples of the success that can be achieved through free markets and limited government intervention.
“We have seen the failures of socialism and statism,” Milei emphasized. “It is time for us to embrace capitalism and individual freedoms. Only then can we truly unleash the potential of our people and our economy.”
Critics argue that the proposed reforms may not be feasible or sustainable in the long term. They worry about the potential social unrest and inequality that may arise from the rapid changes. Milei acknowledges these concerns but remains optimistic about the future.
“Change is never easy, but it is necessary,” Milei stated. “We cannot keep doing the same things and expecting different results. It is time for bold and decisive action. Argentina has the potential to be a leader in the global economy, but we must first liberate ourselves from the bondage of the state.”
The interview with Milei has sparked debate and discussion among economists, politicians, and the general public. The future of Argentina’s economy and the success of Milei’s proposed reforms remain uncertain. Only time will tell if his vision for a conservative and economically liberal Argentina will come to fruition or if it will face challenges and obstacles along the way.
" Conservative News Daily does not always share or support the views and opinions expressed here; they are just those of the writer."
*As an Amazon Associate I earn from qualifying purchases
Now loading...