In a stunning post-election revelation, Argentina’s president-elect, Javier Milei, has announced his intention to shake up the nation’s economic landscape by privatizing several state-controlled entities. Fresh off his victory in the presidential run-off, the 53-year-old economist and leader of La Libertad Avanza outlined his ambitious plans for the country’s future in a Monday morning interview.
Milei’s vision for Argentina is crystal clear: “Everything that can be in the hands of the private sector will be in the hands of the private sector.” This declaration sets the stage for a series of groundbreaking changes, starting with the nationalization of key state media outlets and the YPF SA government-controlled energy firm.
One of the focal points of Milei’s economic agenda is the revitalization of YPF, a major player in Argentina’s energy sector that was nationalized in 2012 under former president Cristina Fernández de Kichner. Milei expressed his dissatisfaction with the company’s performance since its nationalization, stating that it had “deteriorated in terms of results” and is currently “worth less than when it was expropriated.”
The president-elect, however, did not provide a specific timeline for the privatization of YPF. He emphasized the need for a rationalized transition in the energy sector, with both YPF and the state-run energy company Enarsa playing roles in creating value before being sold in a manner beneficial to the Argentine people.
Milei’s disdain for state-controlled media is equally evident, as he announced plans to sell off TV Pública, Radio Nacional, and the Télam state news agency. In a scathing critique, he labeled TV Pública as a “mechanism for propaganda,” accusing it of biased reporting in favor of the government in power.
“I do not subscribe to these practices of having a ministry of propaganda,” Milei declared emphatically. “I do not support a covert ministry of propaganda: it has to be privatized. The same with Radio Nacional. Everything that can be in the hands of the private sector will be in the hands of the private sector.”
Milei’s commitment to slashing government spending and ending inflation has generated both excitement and skepticism. His proposed economic reforms, including the dollarization of Argentina’s economy and the closure of the Central Bank, signal a departure from traditional policies. As the nation awaits the unfolding of Milei’s bold plans, Argentina finds itself on the brink of a new economic era, marked by privatization and a libertarian approach to governance.
(Source: Buenos Aires Times)
