Milei: Three Years of Change, One Year to Win People Over
Following his unexpected election in 2023, President Javier Milei has been on a war path to repair the Argentinian economy by any means necessary and to protect the Argentinian people against the Peronist threat. However, just barely a year from his potential re-election, the results of his intense economic policies toward public finance, hyperinflation, and social policies have left him in a sore spot to convince Argentinians that he remains the solution to their economic woes.
After inheriting a highly indebted Argentina from his predecessors, Milei has made undeniable progress in reforming public finances and bringing inflation under control, and has apparently abandoned his plan for the country’s full dollarization. But the return to growth remains limited. Milei advocates a “return to primary sectors” for the Argentine economy, but the growing sectors (agriculture, mining, hydrocarbons) are not enough to offset the decline of industry—particularly in terms of employment. The persistently high poverty rate worries Argentines, who remain attached to a social safety net now weakened by the state’s retreat.
On social issues, Javier Milei espouses a surprising mix, combining reactionary conservatism on abortion, feminism, and the environment—which runs counter to the expectations of Argentine society—with a libertarian-style tolerance regarding homosexuality, religion, and immigration. Finally, he has shown himself to be close to revisionism on the issue of the dictatorship.
Milei has also forged close ties with President Trump, from whom he secured public support during the 2025 legislative elections. This closeness continues a tradition in Argentine foreign policy of being guided by ideological affinities, though it does not rule out a certain degree of pragmatism.
Finally, despite numerous promises, the country’s heavy debt to the International Monetary Fund (IMF) persists and poses a threat to Milei’s progress in his efforts to secure financing and attract foreign investment. Already campaigning for reelection, the president will need to present voters with a more solid economic record.
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Milei: Three Years of Change, One Year to Win People Over
Jean-Louis MARTIN
Associate Research Fellow, Americas Program and Energy and Climate Center, Ifri
Americas Program
Ifri's work on the Americas region focuses mainly on the United States. Indeed, for more than 20 years, Ifri's Americas Program has provided keys to understanding American society and domestic policy while shedding light on developments in the country's foreign policy, including transatlantic relations and trade issues.
Since 2023, a specific axis on Latin America structures more actively Ifri's research on this region.
Ifri's Canada program was active in 2015 and 2016.
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