TheLittleTwentieth – Renowned Papers Edition, AI Infused

Local sources from Argentina: EL PAÍS Argentina, LA NACION.
UK coverage: BBC.

On Sunday, Argentina inaugurated its first far-right president in 40 years, Javier Milei. In his speech to the crowd, Milei warned the country of a “shock treatment” to come, and he personalized the presidential baton with engravings of his five dogs. The new president has inherited a country in a critical state, with inflation nearly tripling and poverty increasing by five points since the last president, Alberto Fernández, took office.

Milei’s proposed solution to rebuild Argentina is a harsh cut in public spending of around $20 billion, which he believes is the only way to avoid hyperinflation. He also announced that he will eliminate subsidies for public transportation, gas, electricity, and water. The president’s speech was met with both cheers and protests, as his policies are reminiscent of the Peronist Carlos Menem in the 1990s, and many Argentinians remember the corralito crisis in 2001-2002.

In an article from EL PAÍS Argentina, Milei is quoted as saying, “No government has received a worse inheritance than what we are receiving.” He also warned that the austerity measures he is proposing will have a negative impact on activity, employment, and the number of poor and indigent people.

In an article from LA NACION, Milei is quoted as saying, “The only way to escape poverty is with more freedom.” He also made it clear that he will not stand idly by if protesters take to the streets, and he has appointed Patricia Bullrich, who held the position of Security Minister during Macri’s presidency, to implement a firm hand.

Milei faces four years of great challenges, but he is eager to get started. It remains to be seen what specific policies and actions the new president will implement as part of this “shock treatment,” and what the future holds for Argentina.