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☆ Argentina’s economy: What Milei’s chainsaw approach has delivered in a year
▼ + stars: | 2024-12-10 | by ( Hanna Ziady | Stefano Pozzebon | ) edition.cnn.com time to read: +9 min

London/Bogota/Buenos Aires CNN —Javier Milei swept to power in Argentina a year ago on a ticket to tackle chronic hyperinflation and overhaul the long-suffering economy. In one regard — slashing the size of the state — he has proven so successful that Donald Trump’s government efficiency tsars want to replicate his approach. Homeless people at the gates of the closed Retiro train station during a general strike on May 9, 2024, in Buenos Aires. But the adjustment has proved painful in a country where roughly every 10th person is employed in the public sector. But capital controls, which limit the flow of foreign currency into and out of the country, are giving investors pause.

Persons: Buenos Aires CNN — Javier Milei, Donald Trump’s, Natalia Burone, Lucas Aguayo, ”, Hans, Dieter Holtzmann, Friedrich Naumann, it’s, Milei —, Holtzmann, Milei “, Matteo Maffia, Milei, “, you’d, ” Maffia, I’m, Elon Musk, Vivek Ramaswamy, Donald Trump, Carlos Barria, Kimberley Sperrfechter, ” Milei, Luiz Inacio Lula da Silva, Luis Lacalle Pou, Ursula von der Leyen, Santiago Pena, Eitan Abramovich, European Union —, Flor Maffia, Diego Fenoglio, “ There’s Organizations: Buenos Aires CNN, International Monetary Fund, Investors, CNN, Monetary Fund, Friedrich, Freedom, Milei, “, of Government, America, KNG Securities, Capital Economics, South, Friedrich Naumann Foundation, Paraguay's, Mercosur, European Union, Bolivia — Locations: Bogota, Buenos Aires, Argentina, Latin America, Retiro, Brazil, Paraguay, Uruguay, German, United States, Palm Beach , Florida, Argentine, Spain, Montevideo, Bolivia, Europe

Buenos Aires CNN —Police in Argentina clashed Tuesday with anti-government protesters outside Congress, where senators were scheduled to debate a bill on government and economic reforms proposed by libertarian President Javier Milei. A CNN en Español team on the ground witnessed police using water cannons and tear gas to disperse the crowd, while protesters were seen hurling objects back at police. A car belonging to a TV station was overturned and set on fire before it was extinguished by firefighters. A demonstrator reacts during a protest near Argentina's National Congress, on the day senators debate President Javier Milei's economic reform bill, in Buenos Aires on June 12. Mariana Nedelcu/ReutersDemonstrators from various social groups and unions had gathered there to voice their opposition to the proposed reforms.

Persons: Javier Milei, Javier Milei's, Mariana Nedelcu Organizations: Buenos Aires CNN — Police, CNN, Argentina's National, Reuters Locations: Buenos Aires, Argentina, Congress

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