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Until a year ago, it was hard to imagine Javier Milei, 53, would become president of Argentina. Known as a libertarian economist and a colorful character on television, he appealed to the angry working classes, who blamed the political elite for the dire economic situation they found themselves in, with inflation running over 200 percent. Preaching economic “shock therapy” and drastic budget cuts as the only cure to Argentina’s long-term economic ills, Milei was elected in November and has followed through by cutting the value of the peso in half, reducing government subsidies and eliminating thousands of public-sector jobs. Most analysts agree that Milei’s tough medicine is the only way out of Argentina’s economic troubles, but they wonder if he will be able to keep the population on his side as these measures take effect. Last week, Milei was in Miami and took time to talk with The Post’s Lally Weymouth. This interview has been edited for length and clarity. Excerpts:
Lally Weymouth: Reportedly, former president Alberto Fernández planned to increase Argentina’s dependence on Russia and its involvement with China only two years ago. But you have changed Argentina’s posture and brought Argentina closer to the United States and Israel.
Javier Milei: Absolutely. We have undertaken a radical change in our country’s international policy. We have decided to espouse the ideas of freedom, which are the foundation of the West and have brought so much prosperity to the world.
What do you mean by the West? The United States and Europe?
Yes, the United States and I also particularly mean the values of Israel as a cornerstone of the ideas of the West. Europe, too, but to a lesser extent given the great advance of the regulatory framework there.
Many wonder why you are so unabashedly supportive of Israel. In fact, you have actually discussed converting to Judaism. [Milei revealed at an event in Miami that his grandfather’s mother was Jewish.]
My first diplomatic trip as president was to Israel, and I went there to express my support not only to the country but to the people.
As you know, in the United States there is a strong political debate about Israel and its fight against Hamas. Why do you so strongly support Israel?
From my point of view, Israel is acting within international guidelines, and I think that the strategy they are pursuing is the correct one because you cannot possibly negotiate with terrorists. Right from the very first moment following the Oct. 7 terrorist attack committed by Hamas, I condemned the terrorist attack and supported the legitimate right of Israel to self-defense.
During your campaign for president, you warned people that it would be very difficult to get Argentina out of its current economic plight — that inflation was incredibly high and that you would have to make severe budget cuts. You presented to Congress an omnibus bill containing many of the fiscal reforms you would like to carry out, eliminating entire ministries. How are things going after your first 100 days?
We took office in December in the worst possible situation we could have inherited. The country was suffering from a deficit amounting to 17 percent of GDP, the combination of the fiscal deficit and the external deficit added together. At the same time, we had a serious monetary imbalance.
The Central Bank reserves were ... ?
Negative $11.5 billion. Inflation was above 200 percent. Faced with that situation, we decided to go for a 6 percent cut in public expenditures within a single month.
Did you achieve that?
Yes, we cut, leading to a 6 percent reduction in our fiscal deficit. It is the largest fiscal adjustment in history. Inflation for last December was 25 percent. Now it is 10 percent. We hope to be able to bring it down to the single-digit range between April and May.
What about life for the majority of the people? It must be very difficult.
Although 75 percent of the people admit that they are worse off today, 70 percent are convinced that we will be able to defeat inflation. Therefore, my approval ratings remain at the same levels as when I first took office. It seems that the Argentine people have finally decided to go on the right path after such a long time of populist darkness.
You’re talking about former presidents Néstor and Cristina Kirchner?
Not just the Kirchners. Argentina has experienced about 100 years of populism.
Your embrace of former president Donald Trump at the Conservative Political Action Conference in February caused quite a stir in the United States. What do you think of him?
From my point of view, Donald Trump has been able to understand that the key battle that needs to be waged is the battle against statists and socialists. Regardless, my alliance is with the United States irrespective of whether the president belongs to the ranks of the Democrats or the Republicans, aside from my own preference for the Republicans.
What is the biggest challenge you face now? You can’t get your bills through Congress, and you are fighting with the governors. How can you resolve this?
We are going to pursue our structural reform program all the same. If Congress blocks our reforms now, we will be able to push them through after Dec. 11, 2025, after we will have overwhelmingly won the midterm elections.
Long time to wait though, right?
At the beginning of our administration, we sent 1,000 structural reforms to Congress. After the midterms, we will send another 3,000 additional structural reforms.
To what aim?
That set of reforms would bring Argentina closer to Germany in terms of economic freedom.
Do you think you can do that?
Absolutely.
And the people will stick with you?
People support me because the Argentine people have understood that the other path is a road to misery.
Haven’t you had two big national strikes already?
The trade unions are increasingly unpopular as well as the politicians and the Congress. The Argentines know there is going to be light at the end of the tunnel.
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