Javier Milei, the soon-to-be President of Argentina, firmly stated in an X post on Friday that there is absolutely no room for negotiation when it comes to the closure of the country’s central bank.
Milei’s statement was prompted by the circulation of unfounded speculations claiming that he was reneging on his bold commitment, a pledge that was paramount during his campaign. In an effort to dispel these misrepresentations, Milei’s team announced in a press release that he would be engaging in a critical step towards implementing his agenda by having a phone conversation with Yoon Suk-yeol, the president of South Korea, later in the day.
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“On the other hand, given the false rumors spread, we wish to clarify that the closure of the Central Bank of the Argentine Republic (BCRA) is not a negotiable matter.”
Milei ran his campaign under the libertarian ideology, promising to reduce the size of Argentina’s welfare system and implement substantial reductions in government bureaucracy. Additionally, it was emphasized that economist Osvaldo Giordano has been selected to lead the country’s social security administration ANSES, pointing out the significance of this appointment in relation to Milei’s proposed reforms.
During a recent interview, Milei described the central bank as an entity that has engaged in egregious acts of theft over the course of history.
“I think there’s a previous discussion about dollarization. Actually, strictly speaking, it’s to get rid of the central bank. The dollarization is an instrumental issue at the end of the day,” he said.
“There are four argumentative axes. One has to do with a moral issue, which is that stealing is wrong, and is nothing more or less than a swindle by politicians against good people. Therefore, let’s say, if we consider that stealing is wrong, one of the greatest thieves in the history of mankind is the central bank.”
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Milei is likely to encounter challenges in achieving his ambitious goals, one of which involves the adoption of the dollar as the official currency of the economy. Moreover, he intends to close down the central bank and transfer ownership of state-owned enterprises to private entities. Given the relatively smaller number of seats held by his libertarian coalition in congress, Milei will have to depend on support from more established conservative factions who played a crucial role in securing his triumph.
