Argentina’s President Javier Milei delivers his speech at the Annual Meeting of World Economic Forum. Photograph: Markus Schreiber/AP
The wild politics and chainsaw made Argentina’s president an economic hero for the right. And now, with his nation’s finances in chaos: silence
So you really want to know how Prime Minister Farage would pan out? Well, speculate no longer. An excellent test case is unfolding right now, in a country that just so happens to be run by one of Nigel’s heroes. Javier Milei is “amazing”, said the CEO of the private company he calls Reform. “Cutting and slashing … doing all the things he’s done … that’s leadership.”
You may know some of this story, about how a political outsider took power in Argentina. You’ve seen photos of El Loco, the self-styled madman, in a black leather jacket, with sideburns like hedges and wielding a giant red chainsaw – all the better to slash the public sector with.
Taking over Latin America’s second-largest country made Milei the poster boy of the international hard right. Elon Musk: “I love Javier Milei.” Kemi Badenoch: “Javier Milei is the template.” Donald Trump: “My favourite president.” In office, he was lionised by Wall Street and the international commentariat. Milei’s economy was declared by no lesser sage than Niall Ferguson as a “man-made miracle”.
Donald Trump with Javier Milei at the UN general assembly in New York last month. Photograph: Evan Vucci/AP
Yet over the past few weeks, Argentina has gone into freefall. Investors have yanked billions out of the country, and the peso has dropped like a stone. A few days ago Trump was forced to pledge $20bn (£15bn) to prop up his friend, in addition to a rescue loan from the IMF. Later this month, Milei faces midterm elections that will serve as a referendum on his presidency and the results are expected to be bad. “We are seeing in real time how a government can melt in front of our eyes,” Alejandro Bercovich, a leading Argentine TV and radio journalist told me this week. “I never thought they would collapse this quickly.”
Axel Kicillof and other Peronist leaders in Buenos Aires celebrating their victory on Sunday, September 7. Photo: Fuerza Patria / X
Despite the president taking a front-line role in the election campaign and predicting victory for his party (“Buenos Aires will be painted purple,” Milei claimed), the figures speak for themselves. Voter turnout is estimated at almost 61%.
On September 7, 2025, the province of Buenos Aires dealt a crushing defeat to the right-wing libertarian project of President Javier Milei, who, after learning the results of the provincial elections, said: “Today we have suffered a clear defeat and we must accept it.”
The people of Buenos Aires province, which accounts for 38% of the country’s population, elected senators, deputies, and delegates of their municipalities. Peronism decided to join forces and form a large anti-Milei alliance called Fuerza Patria (Homeland Force), which, according to official data, obtained almost 47% of the valid votes. Meanwhile, La Libertad Avanza, Milei’s party that allied itself with the PRO (the party of former president Mauricio Macri), reached almost 34%. In third and fourth place were the centrist SOMOS and the Left Front, respectively, which each obtained almost 5%. The rest of the votes were divided among the other contenders.
In other words, Peronism won by more than 13 points over the far right, allowing it to take six of the eight electoral districts. La Libertad Avanza only managed to win the fifth and sixth districts. In addition, Peronism swept the municipal elections, winning 95 of the 135 municipalities in the province.
Milei says he will not back down
Despite the resounding defeat, Milei stated that while the necessary political mistakes must be corrected, he will not back down from his neoliberal project. “We will not back down one millimeter in the government’s policy; we will accelerate the course even more. If we have made political mistakes, we will process them and do better to win in October… We will continue to defend fiscal balance.”
He also took the opportunity to criticize his primary opposition, “They have put all the Peronist apparatus that they have been managing for 40 years into play, and this [result] is the floor for us and the ceiling for them.”
Peronism celebrates
For its part, the main opposition force, Peronism, celebrated the results. Former President Cristina Fernández, who is currently under house arrest, wrote on her X account: “Did you see that, Milei? Trivializing and vandalizing the ‘Never Again’ movement, which represents the darkest and most tragic period in Argentine history, does not come without a price. Neither is laughing at the death and pain of your opponents. But pointing fingers and stigmatizing the disabled, while your sister charges a 3% kickback on their medications, is lethal. And I’d better not even tell you how the rest (of those who still have jobs) are doing. Indebted for food, rent, expenses, or medications, and on top of that, with maxed-out credit cards. Get out of your bubble, brother.”
The Peronist governor of the province of Buenos Aires, Axel Kicillof, said to his supporters after learning the results: “The message from the polls is that you can’t govern for outsiders, for those who have the most. Milei: You have to govern for the people.” Furthermore, looking ahead to future elections, including the presidential election, Kicillof stated: “The elections have shown that there is another way, and today we are beginning to follow it.”
What is the reason for the crisis of ultraliberalism?
There are several elements which can help explain the defeat of Milei and his party on Sunday.
Other interpretations also point to an increasingly difficult management of the economy. The government has implemented a radical neoliberal policy that is in line with the demands of the International Monetary Fund (IMF). This has brought some stability to inflation, but it has also caused enormous social unrest, such as that of retirees who have taken to the streets every week to protest against government cuts to health care and freeze pensions.
In this regard, journalist Federico Rivas Molina wrote in El País: “The economic team is finding it increasingly difficult to maintain the value of the peso against the dollar. To prevent the dollarization of peso portfolios, it first raised rates to 80%, triple the inflation forecast for this year. Then it raised bank reserve requirements to 50% to reduce the amount of pesos in circulation. In the middle of last week, the floating bands it had agreed with the International Monetary Fund and sold dollars from the Treasury. Milei then blamed the turbulence on what he called ‘the kuka risk,’ that is, the fear of a Kirchnerist victory that had investors terrified. With the prophecy fulfilled, the scenario is now much more hostile than it was on Friday.”
Along these lines, Erika Gimenez, a journalist at ARG Medios, told Peoples Dispatch that Milei’s economic plan is not working and the people know it. She explained, “No one feels that their economic situation has improved under Milei’s government; quite the contrary: inflation is rising, salaries are insufficient, pensions for retirees and disabled people are being cut, among other cruel policies implemented by Milei. He is not convincing a sector that previously voted for him.”
She also expressed her opinion that Peronism, which has several internal tendencies (not always compatible), could sustain this alliance in the medium term thanks to the emergence of a figure who can bring together the different internal forces: “I think that Axel Kicillof’s leadership [in Peronism] is indisputable.”
Regarding the immediate future of Milei’s government, Gimenez said that a process of internal crisis is coming: “The figure of his sister is weighing on Milei, and despite this, he is not going to remove her. In addition, some ministers are going to resign or be fired, although it is not known which ones. There is a kind of political instability and instability in the Milei government’s economic project. It is most likely that between now and October, when there will be national legislative elections in which everyone in the country votes, political and economic stability will be at stake.”
Argentina president Javier Milei escapes election rally after being pelted with rocks – video
Argentinian president campaigning for midterm elections – the first big test of his popularity – when protesters threw bottles and rocks at his vehicle
The president of Argentina, Javier Milei, was pelted with stones while campaigning near the capital Buenos Aires on Wednesday by demonstrators protesting about a corruption scandal.
The far-right leader, who was whisked from the scene by his security detail, sustained no injuries after his motorcade was attacked, presidential spokesperson Manuel Adorni wrote on X.
Milei, who is campaigning for October midterm elections, was riding in the back of a pickup truck and greeting supporters in the city of Lomas de Zamora, 20km south of Buenos Aires, when protesters began throwing plants, rocks and bottles at his vehicle.
The vehicle carrying the president and his sister, Karina Milei, along with other officials, quickly left the scene.
Afterwards, scuffles broke out between supporters and opponents of the libertarian leader.
Buenos Aires march on Saturday, August 9. Photo: Argentine Committee for Solidarity with the Palestinian People
Protesters on Saturday also denounced the very close relationship between the governments of Milei and Netanyah
On August 9, thousands of Argentines took to the streets of the capital, Buenos Aires, demanding an end to the genocide being committed in Gaza, Palestine Israel. The slogan of the march was “We are all children of Gaza”.
The protesters denounced the indiscriminate attacks and forced starvation that, they claimed, Israeli forces are perpetrating against the civilian population.
The demonstration ended at Plaza de Mayo, where, according to some media outlets, more than 10,000 people demanded an end to the repressive actions in Palestine: “ Gaza is starving, time is up!” and “Palestine will prevail from the river to the sea” were some of the slogans chanted by the protesters as they waved Palestinian flags.
The march brought together human rights organizations, left-wing political parties, and various social movements, which declared that the only solution to any conflict in Palestine is peace, respect for sovereignty, and a dignified life for those who live there.
“We are facing genocide, which is confirmed by Israeli leaders themselves when they openly say that it is lawful to starve and dehydrate the entire population of Gaza, including its children. This genocide must be denounced relentlessly,” said Gabriel Solano, one of the leaders of the Left Front, during the mobilization.
For its part, the Palestinian Embassy in Argentina posted on X: “THANK YOU ARGENTINA, WE WILL NEVER FORGET! An impressive demonstration took place on Saturday, August 9, in Buenos Aires to denounce the genocide being carried out by the state of Israel against the Palestinian people.”
A close relationship between the governments of Argentina and Israel?
The demonstration also criticized the close ties between the Argentine and Israeli governments, which Argentine President Javier Milei (who recently traveled to the occupied Palestinian territories) has never denied. One of the slogans heard at the march was: “Milei, Zionist, you are the terrorist”.
Milei has announced that in 2026, he will relocate the Argentine embassy in Israel from Tel Aviv to Jerusalem, a move that Palestinians and several governments around the world have heavily criticized. For his part, Israeli Prime Minister Benjamin Netanyahu confirmed that he will soon come to Argentina on an official visit, a move that various Argentine political movements and parties have strongly denounced.
In addition to Buenos Aires, demonstrations against the genocide in Palestine took place in other Argentine cities, such as San Carlos de Bariloche, El Bolsón, Trelew, Comodoro Rivadavia, Ushuaia, Río Grande, San Salvador de Jujuy, Salta, San Miguel de Tucumán, San Juan, La Rioja, Catamarca, Mendoza, Santa Fe, Concepción del Uruguay, Córdoba, Cosquín, Alta Gracia, Villa Dolores, La Plata, Bahía Blanca, Mar del Plata, Neuquén, and Viedma.
Solidarity with Palestine continues to grow
“The last three demonstrations have grown due to the news about the genocide taking place in Gaza,” Gabriela B., an activist with Nuestramérica and member of the Argentine Committee for Solidarity with the Palestinian People, told Peoples Dispatch. For her, there is a significant increase in support for the cause, “If there was ever a belief that people could ignore the situation in Palestine without it affecting their humanity or without their stance being noticed, that idea has been shattered.”
She also pointed out the importance of Israel in Argentina: “In Argentina, the situation is very difficult. As a colleague mentioned, Argentina is considered the capital of Zionism [in Latin America], which means that the mainstream media only broadcasts voices that cover up the genocide. Furthermore, any action or complaint related to Palestine is framed within the concept of anti-Semitism, making solidarity and questioning of the situation even more difficult. The silence is already unsustainable, and Netanyahu’s possible visit, as well as the famine in Gaza, have triggered acts of repudiation. This resulted in posts on the accounts of famous artists during the week and in the large march that took place not only in Buenos Aires but in 30 other locations throughout the country, including cities and provinces.”
Regarding the demands made by the protesters, Gabriela said: “The main demand was a call to stop the genocide and famine, and to reject the possible visit to Argentina by Israeli Prime Minister Benjamin Netanyahu.” Other demands included:
The withdrawal of Israeli troops from Palestine, Syria, and Lebanon.
Ending diplomatic relations with Israel. Cancelling the Mercosur-Israel agreement (a Free Trade Agreement between Israel and a bloc of South American countries).
Stop the persecution of those who show solidarity with the Palestinian people.
In Argentina, two prominent political figures are currently being persecuted for tweeting about the genocide in Gaza: Vanina Biasi and Alejandro Bodart.
When asked about the criticisms raised during the march against Milei’s close relationship with Netanyahu, Gabriela B. said that in the last month, key political and progressive movements have begun to join the movement in support of Palestine and rejecting Israel’s actions. After Saturday’s march, momentum has continued to build, “various complaints were filed after Saturday by trade unions and human rights organizations, demanding Netanyahu’s arrest if he visits Argentina. The same complaint alleges that Netanyahu committed ‘genocide and war crimes’ against the Palestinians (presented by the secretary general of ATE Buenos Aires, Daniel ‘Tano’ Catalano, and the representative of the H.I.J.O.S. group, Verónica Castelli).”
She added: “However, as far as Milei and the ruling party are concerned, nothing has happened. No media outlet, except for alternative ones, has reported on the large march. The only news that managed to break through the media blockade and name Israel as a murderer was the news of the six journalists who were killed on Sunday. This march has served to denounce the Zionist alliance that the government maintains and to continue raising awareness among our people.”
Genocide denier and Current UK Prime Minister Keir Starmer is quoted that he supports Zionism without qualification. He also confirms that UK air force support has been essential in Israel’s mass-murdering genocide. Includes URLs https://www.declassifieduk.org/keir-starmers-100-spy-flights-over-gaza-in-support-of-israel/ and https://youtu.be/O74hZCKKdpAKeir Starmer objects to criticism of the IDF. He asks how could anyone object to them starving people to death, forced marches like the Nazis did, bombing Gaza’s hospitals and universities,mass-murdering journalists, healthworkers and starving people queuing for food, killing and raping prisoners and murdering children. He calls for people to stop obstructing his genocide for Israel.
Argentina’s President Javier Milei (C) attends Donald Trump’s inauguration as the next President of the United States in the rotunda of the United States Capitol on January 20, 2025 in Washington, D.C. (Photo: Shawn Thew – Pool/Getty Images)
“Look where you brought us with your madness! You turned Argentina into a casino where the croupier is the president himself,” one opposition politician said.
Argentina’s far-right libertarian President Javier Milei faces legal challenges and calls for impeachment after a cryptocurrency he touted on social media over the weekend rapidly rose and then tanked in value.
Milei first promoted the $LIBRA coin from his personal account on X Friday night, which then skyrocketed in value to $5 apiece, according to Reuters. Within hours, however, the coin’s value plummeted to under $1. Milei deleted his initial tweet five hours after he first posted it, The New York Times reported, writing in a new post that he was “not familiar with the details of the project.”
“We just witnessed one of the fastest and largest destructions of wealth in retail trading history,” noted The Kobeissi Letter, which tracks capital markets, in a social media post. “Argentina’s memecoin, $LIBRA, erased -$4.5 billion of retail capital in seven hours. Truly destructive.”
In the first 40 minutes after Milei first tweeted boosting the coin, its value rose by more than 2,000%, CoinDesk reported. However, it then began to fall as early investors sold their shares, eventually plummeting 95% from a maximum value of $4.4 billion.
Crypto experts warned the $LIBRA coin, which was developed by KIP Protocol and Hayden Davis, could be a “rug pull,” a scam in which a crypto developer launches and inflates a coin only to pull out and leave investors hanging.
“Milei’s participation in the crime of crypto fraud is extremely serious,” the Lower House bloc of the Peronist Unión por la Patria, a center-left opposition group, wrote on social media Saturday. “It’s a scandal without precedent. Our bloc of national deputies has decided to move forward with presenting an impeachment request against the president of the nation.”
Opposition lawmaker Leandro Santoro further called Milei’s actions a “scandal, which embarrasses us on an international scale” and “requires us to launch an impeachment request against the president.”
On Sunday, Socialist Party lawmaker Esteban Paulón also called for impeachment proceedings.
“If as a president of a country you propose something for private benefit there is an obvious conflict of interest.”
On Monday, Argentina’s benchmark S&P Merval had fallen by 4%, according to Reuters. The incident sparked more than 100 legal complaints, which were assigned to Federal Judge Maria Servini on Monday.
One case was brought by a coalition of lawyers involved in the Right to the City Observatory think tank as well as economist and former Argentine Central Bank President Claudio Lozano. The group accused Milei of fraud, dereliction of duty, and criminal association, according to theBuenos Aires Herald.
An official statement from the president’s office on Saturday said that Milei had met twice with the developers of $LIBRA and had decided to promote the coin “as he does daily with many entrepreneurs who want to launch a project in Argentina to create jobs and obtain investments.”
“Not having been part of any instance of the development of the cryptocurrency, after the repercussions that the launch of the project had and to avoid any speculation and not give it further dissemination, he decided to delete the post,” the statement continued, adding that the president had asked the Anti-Corruption Office to investigate whether he or anyone else in the government engaged in “improper conduct.”
However, the lawyers challenged Milei’s account, according to the Buenos Aires Herald:
In their report, the lawyers dispute Milei’s subsequent claims that he was not aware of the project’s details. They highlight that the president made his post just three minutes after $LIBRA was launched, timing that indicates he knew it was coming before it was announced. They also argue that, as an economist, it is unlikely that he did not understand the details of the project he was sharing.
In a post addressed to Milei directly, former President Cristina Fernández de Kirchner heavily criticized the current president for painting himself as an expert yet claiming innocence of the scheme.
“Weren’t you the ‘best president in history’? Weren’t you the ‘genius of the economy’? From self-proclaimed ‘global leader’ to CRYPTO SCAMMER,” de Kirchner wrote.
“Look where you brought us with your madness! You turned Argentina into a casino where the croupier is the president himself,” she continued. “THAT IS YOUR MARKET FREEDOM… that of the casino. Your mask has fallen off.”
While experts say impeachment efforts are unlikely to succeed, the incident could harm Milei in the upcoming midterm elections.
“It is extremely serious if confirmed, especially in terms of a president’s powers to promote something private,” left-wing Mexican President Claudia Sheinbaum told Reuters. “If as a president of a country you propose something for private benefit there is an obvious conflict of interest.”
The scandal drew comparisons to U.S. President Donald Trump, who also launched a meme coin shortly before taking office, the value of which also first rose and then fell dramatically. Milei has expressed support for Trump in the past, while Elon Musk has taken inspiration from Milei’s chainsaw-wielding approach to government for his ideologically-driven anti-government effort Department of Government Efficiency.
Power-mad orange gasbag Donald Trump says Burn, Baby, Burn.Elon Musk urges you to be a Fascist like him, says that you can ignore facts and reality then.
