Javier Milei’s ‘Shock Therapy’ Is Suffering a Stinging Rejection

February 08, 2024

(Bloomberg) -- Two months into Javier Milei’s presidency, his quest to overhaul Argentina’s economy and tame triple-digit inflation has swerved off track. It all “speaks volumes about the government’s political inexperience,” said Jimena Blanco, the chief analyst at consulting risk firm Verisk Maplecroft. Milei’s team has withdrawn the bill from consideration for now, and insists it still has options to push through the president’s priorities. Caputo and Milei’s strategy to rush the bill through congress without consulting powerful governors or key legislators received push back from the beginning. When legislators sat down on the afternoon of Feb. 6, they rejected seven of the first 13 parts, forcing Milei’s party to withdraw it.