"Dissent Erupts in Argentina": Thousands Rally Against Milei's Aggressive Economic Policies, Causing Nationwide Strikes
In the heart of Buenos Aires, thousands of protesters denounced President Javier Milei's plans to overhaul the government, privatise public industries, and slash spending. This marked the biggest show of resistance against Milei, who has been in office for less than seven weeks, an unprecedented event in modern Argentinian history.
Milei, the leader of the libertarian, conservative, and far-right coalition La Libertad Avanza, was elected President of Argentina two months ago. Since then, he has been implementing austerity measures, including a 54% devaluation of the Argentinian peso, which has accelerated inflation rates. Argentina ended 2023 with annual inflation of 211%, the steepest rate in Latin America, surpassing even Venezuela.
The President is preparing to consider a slimmed-down version of an "omnibus law," which, if passed, would hand broad legislative powers to his executive branch for an "emergency" period of one year. The original version of the bill contained 664 articles, seeking to reimagine the country's elections, restructure the lower chamber of Congress, and enact tough new restrictions on protests. However, the streamlined version of the bill still contains over 500 articles.
Political scientist Federico Zapata, the director general at Escenarios, credits Milei's success in building approval over his measures to his successful messaging to voters and his ability to lower expectations. A majority of respondents in a survey conducted by pollster Escenarios believe Milei's reform measures are necessary to improve the economy.
However, not everyone is optimistic. Alicia Pereyra, a retiree, voiced opposition to Milei's plans to deregulate the economy and ditch rent regulation, stating that he wants them to be slaves. Elizabeth Gutierrez, a nurse, attended the protest due to steep increases in food prices since Milei took office. Pereyra's retirement income is only 85,000 pesos per month, about $70, and she is unsure whether she will be able to access the medicine she needs for a chronic illness due to Milei's reforms.
Security Minister Patricia Bullrich, a member of Milei's administration, called the union groups that organized the strike "gangsters" and "guarantors of poverty." Milei dismissed Wednesday's strike as evidence of backward thinking, stating that there are two Argentinas: one wanting to stay in the past, and one wanting to move forward.
Economist Santiago Manoukian expects December's price increases to continue hitting consumers' pocketbooks for the next several months. Real wages are expected to fall, purchasing power is going to continue to go down, and this trend is expected to slow consumer spending, resulting in a recession and an uptick in unemployment and poverty. Four in 10 Argentines were already in poverty when Milei took office.
Historian and fascism scholar Federico Finchelstein compared Milei's authoritarian style of populism to that of Donald Trump, the former president of the United States. Some protesters called Milei a "traitor."
Luis Testa, a cab driver who voted for Milei, remains optimistic that the President will make good on his campaign promises, even as he makes cuts in his day-to-day expenses. The court has already invalidated a key component of Milei's "mega-decree," which had sought to cancel a host of worker protections.
As the debate over the omnibus law continues, it remains to be seen how Milei's administration will navigate this period of resistance and economic turmoil.
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