Javier Milei won Argentina¡¯s presidency last month by wielding a roaring chainsaw on the campaign trail to symbolize the slashing he planned for the nation¡¯s government.
On Tuesday, two days after taking office, the self-proclaimed ¡°anarcho-capitalist¡± unveiled deep spending cuts and a sharp devaluation of Argentina¡¯s currency, carrying the struggling nation of 46 million into a stretch of austerity that he said would bring even more economic pain.
Milei¡¯s government said it would halt new infrastructure projects; lay off recently hired government workers; reduce energy and transportation subsidies for residents; cut payments to Argentina¡¯s 23 provinces; and halve the number of federal ministries, from 18 to nine.
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