“There’s no money,” proclaimed President Javier Milei during his presidential inauguration speech on Sunday. In the days that followed, Milei made good on his campaign promise to take a chainsaw to government spending. Later in the day, Economy Minister Luis Caputo posted an 18-minute video outlining the government’s idea of shock therapy. The economy minister also announced a sharp reduction in subsidies for utility, as well as for transport in Greater Buenos Aires, which is home to roughly a third of Argentina’s population. Given all of that, everyone — government and opposition alike — is asking themselves a few questions: how long will Milei maintain social legitimacy?

Source: Bueno Aires Herald December 16, 2023 05:18 UTC