Argentina's Milei on Currency Controls, Subsidies, Trump, China (Full Interview)

The president of Argentina, Javier Milei, explains why he's taken a slower path than anticipated to implement campaign pledges to dollarize the economy, shut down the central bank and eliminate subsidies. He also talks about China, Donald Trump and how he named his dogs. He speaks in an exclusive interview with John Micklethwait, Bloomberg's editor-in-chief. They spoke at the president's executive offices in Buenos Aires.



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[ehhalexx]

This interview is a giant, "why haven't you done X or Y?"... the man has been in office for 100 days and balanced the budget. Give him some time

[Bizarro_na_chapa]

Go milei go
Show the world does not need thieves....
I will support you

[elfornicador]

They are asking him for a miracle. The dude is actually trying to perform that miracle, and in front of him he faces the 10 plagues of Egypt.

[rusaccord]

Argentina: suffers decades of corruption, inflation, instability.
Milei: in office for 3 months.
Bloomberg: Why haven't you fixed everything?

[lowrystcol]

Summary of the Video

Part 1 of the video discusses Javier Milei's first 100 days as President of Argentina, focusing on his radical economic reforms inspired by free-market principles. Milei has devalued the peso, slashed government spending, and aimed to align the official peso with its black market value. Despite facing a history of economic turmoil, Milei's policies have seen some success, with inflation decreasing and public support remaining strong. The video also touches on Milei's plans for dollarization, his moral stance against the central bank, and the challenges of implementing currency competition in a bankrupt economy.

Highlights:
1. **Milei's Economic Reforms** [00:00:00][^1^][1]
* Devaluation of the peso
* Reduction in government spending
* Initial success in controlling inflation
2. **Currency Control and Dollarization** [00:01:28][^2^][2]
* Plans to lift currency controls post-mid-term elections
* Goal to eliminate the central bank
* Challenges with currency competition and political opposition
3. **Fiscal and Monetary Challenges** [00:03:06][^3^][3]
* Inherited a bankrupt central bank
* Undertook unprecedented fiscal adjustment
* Strategy to clean up the central bank's balance sheet
4. **Political and Social Impact** [00:13:50][^4^][4]
* Tackling government jobs and subsidies
* Navigating political opposition and the Supreme Court
* Public support amidst economic hardship

Part 2 of the video discusses Argentina's economic strategies, international relations, and political ideologies. It highlights the government's approach to a Chinese space station in Patagonia, trade relations with China, negotiations with the IMF, and the country's fiscal policies aimed at reducing debt and achieving economic solvency. The video also touches on support for Israel's actions in Gaza and the president's libertarian views, including support for Donald Trump's policies against socialism.

Highlights:
1. **Chinese Space Station and Trade Relations** [00:36:29][^1^][1]
* Audit and inspection of the station
* $18 billion currency swap with China
* Trade exchanges remain unchanged
2. **IMF Negotiations and Economic Reforms** [00:38:28][^2^][2]
* Seeking IMF approval for reforms
* Potential $44 billion facility
* Exceeding IMF targets in record time
3. **Fiscal Policies and Public Debt Markets** [00:41:41][^3^][3]
* Zero financial deficit after interest payments
* Reduction in country risk levels
* Increase in bond prices
4. **Support for Israel and Political Ideology** [00:43:05][^4^][4]
* Endorsement of Israel's government actions
* Libertarian views and admiration for certain economists
* Alignment with Trump's identification of socialism as the enemy

[ronnie]

To clarify something, the term "populism" in Argentina means basically the opposite to the American meaning.
In America people call populists to right wing politicians, but in Argentina it refers to the socialist politician who gives people free stuff to get voted

[christianbritt]

Milei is so impressive. Argentina’s road will be bumpy but he is the person for the job.

[theTimHernandez]

Milei is brilliant. Argentina will be great again.

[ivanribnikov]

In an interview with a learned man that throws around lots of technical concepts and terms, and speaks in such long and (relatively for what we're used to with politicians) complicated sentences, it's better to just have him subtitled rather than dubbed. The translator, while good, struggles at times to keep up and obviously the tone of voice of what he's saying doesn't carry, the translation being completely out of sync sometimes with the phrase he's speaking at the time. Kinda hard to watch, feels a bit wasted.

[biscaynediver]

Stunning. A world leader who fully understands and can speak fluently of IRR and WACC, understands the damage that can be wrought by an activist central bank, and has the courage to address it all head-on. The U.S. desperately needs someone of his caliber.

[mikerelf]

I love this guy he knows his shit and his heart is in the right place....

[dadaistaingegniere]

Milei is working hard to stabilise argentinian economy. He will succeed

[Showmaann]

Im so proud of my vote, and that the world knows him now, he will change everything!!

[jimbopeebles]

I honestly can’t remember if I’ve ever heard a politician speak so eloquently about their own economic policy.

President Milei is a truly remarkable figure. He gives me hope for western society.

[WeiweiCheng]

It is refreshing to see a world leader who can call out BS in economics in a live interview.

[adamplona]

Best of hopes and wishes.. To Argentina!! Make your country how you want it. Canada is good to trade with too. Support communist ways... keeps them in power... pretty simple. I might be wrong.. anyone is fallible... me too... but.. .why do I get the sense this guy is truly honest in his "focus and effort". Make Argentina Awesome! Yes!!

[nadiazoloaga]

Te amo Milei, jamas pensé empatizar con un político, sos el Salvador de nuestro país, todos los argentinos de bien te amamos, te queremos presidente para siempre 🇦🇷🥹🙌🏼

[ashrichman]

Absolutely excellent translation!! Miley speaks fast and complex but translator not only kept up but simplified making the conversation easier to comprehend

[scodellina]

It would be interesting to see how many heads of states could answer the questions he was asked... I don't think many could answer complicated, advanced economic, financial and monetary policy questions.

[dejabu]

I like Milei, interesting personality to keep an eye on