Javier Milei

On his first day in office, Milei's economy minister Luis Caputo devalued the official peso by 50% to 800 per US dollar. This was part of a shock therapy to address hyperinflation and fiscal deficits.

Javier Milei won the 2023 Argentine general election runoff with 55.7% of the vote against Sergio Massa. He assumed office on December 10, 2023, as a libertarian outsider, the first such figure to lead Argentina.

Milei's government reported a fiscal surplus for the first quarter of 2024, the first quarterly surplus since 2008. This was achieved through deep spending cuts, including to subsidies and public works.

Milei submitted a sweeping omnibus bill to Congress proposing deregulation, privatization, and labor reforms. The bill sparked massive protests and was later withdrawn after failing to gain sufficient legislative support.