Javier Milei: Argentina's right-wing populist president is putting the country into shock therapy that is met with resistance.

Javier Milei: Argentina's right-wing populist president is putting the country into shock therapy that is met with resistance.

According to a report by politik.watson.de, Javier Milei has been the new president of Argentina for a month. The right-wing populist politician has since issued a series of controversial measures and decrees that are dividing Argentine society. His announced “shock therapy” has already led to a sharp devaluation of the Argentine peso, further weighing on the country's economy.

Inflation in Argentina is already at 160 percent and the poverty rate is over 40 percent. Social systems are overloaded and the cost of food is constantly rising. Milei promises to lead Argentina out of the crisis with a radical austerity program, but experts warn that the population will suffer from the effects.

The President has submitted a massive bill to the National Congress that would give the President nearly unlimited powers for two years. This leads to disputes with parliament, as Milei does not have its own majority. According to experts, Argentine society and institutions are facing a breaking point.

Javier Milei has inherited a difficult legacy and faces the mammoth task of dealing with the country's debts and filling its empty coffers. His approach that the market will sort it out is viewed critically by many experts. The population is expecting measures to mitigate the severe economic problems, and many are skeptical whether Milei's policies can have an impact quickly enough before the patient Argentines lose their patience.

Overall, under the leadership of Javier Milei, Argentina faces an uncertain economic and political future that poses major challenges for the population and the financial sector alike.