Argentina's President Javier Milei has initiated a series of austerity measures and public sector layoffs as part of his economic reform plan. Milei's administration has already terminated 50,000 public employee contracts and plans to end an additional 70,000, aiming to improve Argentina's primary balance by 5.5% of GDP. This approach has been met with protests and resistance in Congress, amid concerns over its sustainability and potential political and social ramifications. Meanwhile, diplomatic tensions have escalated between Argentina and Colombia, following Milei's derogatory remarks about Colombian President Gustavo Petro, labeling him a 'terrorist killer' and comparing Colombia's trajectory to Venezuela's. Colombia responded by withdrawing its ambassador to Argentina and expelling the Argentine diplomat in Bogotá. This situation has further complicated Argentina's foreign relations, already strained by the sheltering of Venezuelan opposition members in the Argentine embassy in Caracas, leading to a power cut-off by Venezuela.
Colombia’s government expelled Argentine embassy officials after President Javier Milei labeled Colombian counterpart Gustavo Petro a terrorist, assassin and communist in a TV interview https://t.co/yL36KoSA3N
South American leader steps up ‘shock therapy’ reforms Argentina’s Javier Milei has implemented a painful austerity plan to fix the country’s beleaguered economy https://t.co/pxjIOWGrAv https://t.co/JZBtDPruqG
Amusing. The president of Argentina, Javier Milei, calls the president of Colombia Gustavo Petro a murderer and a terrorist. Petro recently threatened to cut diplomatic relations with Israel if the Jewish state did not abide by a UN security council ceasefire. https://t.co/foZR9FMN3l
Argentina's President Javier Milei calls Colombia's President, Gustavo Petro, a "terrorist killer," driving Colombia down the path of Venezuela. I agree, and I predicted it when Petro was elected two years ago @CityJournal https://t.co/rX8M2zxFus
Argentina's President Javier Milei calls Colombia's President, Gustavo Petro, a "terrorist killer," driving down Colombia down the path of Venezuela. I agree, and I predicted it when Petro was elected two years ago @CityJournal https://t.co/rX8M2zxFus
Mexican economy seen growing up to 3.5% in 2024, draft budget shows https://t.co/5JWM49lYsE https://t.co/376ePvb1iK
El presidente de Argentina, Javier Milei, calificó a su par de Colombia, Gustavo Petro, como un “asesino terrorista” durante una entrevista con @oppenheimera en #OppenheimerPresenta https://t.co/Y64cypaKbf
https://t.co/tpuFqU1y75 Javier Milei can't stop winning.
🇨🇴🇦🇷 Gustavo Petro retiró este miércoles al embajador de #Colombia en #Argentina, Camilo Romero, y expulsó al diplomático argentino en Bogotá, Gustavo Alejandro Dzugala: https://t.co/kTX0VfalNV
Argentina - Venezuela diplomatic relations looking precarious. https://t.co/ERhIarPEOv
Colombia will withdraw its ambassador to Argentina.
Members of Venezuela's opposition coalition have sought refuge in the Argentinian embassy in Caracas, according to the office of Argentina’s President, Javier Milei. https://t.co/8eCyM0YGE3
Milei proposed a 5-point fiscal cut as he started government in Argentina & that means a brutal adjustment Mexico is now proposing about half that adjustment (2.5 points of GDP) for next year, as the new administration takes over. Doable? https://t.co/d2O3gihoU9
Mexico’s economy will expand 2% to 3% in 2025 with a fiscal deficit equivalent to 2.5% of gross domestic product, according to a government estimate published Wednesday. https://t.co/VrKs4uVhbT
Poverty levels in Argentina rose slightly in the second half of 2023 as soaring inflation pummeled household spending power even before President Javier Milei’s shock therapy took hold https://t.co/wBlcHWX5ny
Javier Milei has found a good target in the politicized middlemen that deliver welfare payments in Argentina, I told @barronsonline: He is trying “to circumvent these patronage networks.” https://t.co/fCWJXxxNqW
“If all Milei achieves is budget cuts, he will bring economic pain without fixing the source of recurring crises,” I told @barronsonline. https://t.co/fCWJXxxNqW
Javier Milei's economic genius is so powerful that he is now telling the citizens of Argentina they will have to start "taking money out of the mattress." 🤡 https://t.co/EvIhuSdYQX
Poverty levels in Argentina rose slightly in the second half of 2023 as soaring inflation pummeled household spending power even before President Javier Milei’s shock therapy took hold. https://t.co/nRLKapSv5r
Argentina’s president Javier Milei told me in an interview at his office that he is considering diplomatic sanctions against Venezuela. My column in the @Miamiherald: https://t.co/QTFaVTD8pb
President @JMilei is sheltering Venezuelan freedom fighters in the Argentine Embassy. The Maduro regime is besieging the Embassy in return. Javier Milei is a gift to the cause of liberty in Latin America! https://t.co/MOY62VnsJX
To demonstrate a real shift, Pres. Biden & leaders worldwide should join the call of 🇨🇴 Prez @PetroGustavo and enforce the UN resolution. "If Israel doesn't comply with the UN Ceasefire resolution, we'll break diplomatic relations with Israel." -Petro https://t.co/SNRnljQaG4 https://t.co/0qVPWFKErn
Argentina’s pro-Trump leader Javier Milei says it’s time to get tougher on Venezuela | Opinion https://t.co/GKX18JlJX8
Argentina says Maduro opponents taking refuge in its Venezuela embassy https://t.co/cYV46hhCx6
Javier Milei is a man of his word: "We are taking the chainsaw strategy. We eliminated the public works, which I'm proud of. Public works are a major source of corruption. We fired 50,000 public employees and we will end 70,000 government contracts." https://t.co/UAlJSs715k
'There's a Lot More Chainsaw': Argentina's President Announces Plan to Further Shrink Bloated Government https://t.co/C6NFAGUC5j
Javier Milei might be one of the few world leaders who knows what he's talking about when he talks about the economy. https://t.co/4AygbnkPK2
Milei wants to improve Argentina's primary balance by 5.5% of GDP quickly. Almost no IMF program in history did that. The typical program achieves just 1% of GDP in adjustment. Macri tried 4.8% in late 2018 and everything blew up. History will repeat itself. https://t.co/SnihsMdD7t
The new Argentine president is popular with American libertarians, but his record at home looks increasingly populist and authoritarian. https://t.co/iyMWR85KiG
Argentine President Javier Milay plans to fire 70,000 civil servants in the coming months - La Prensa Latina "We have fired 50,000 civil servants and their contracts have been canceled. Please note that the number of contracts is now being reduced and another 70,000 contracts… https://t.co/r4oHgX6KhO
The Argentine public sector has 3.5 million employees. Getting rid of 70,000 is a good start, but also a reminder that it took electing an actual self-declared anarchist to achieve a mere 2% reduction in government employees. https://t.co/HE8Tik5QBE
THIS IS INCREDIBLE!!! He will fire 70,000 more soon!!! "The public works are a major source of theft, of theft to which I imagine all good people should oppose. We fired 50,000 public employees, and we will keep terminating contracts." - Milei https://t.co/fzr3FHN3na
Javier Milei is turning out to be everything great he promised to be https://t.co/FEoGeNzOUJ
“Milei has both faced widespread protests on the streets and hit a wall in Congress.” https://t.co/yi5UYP5Suz
Good Milei https://t.co/HDR03GvIHq
Javier Milei going off https://t.co/pSxwJ1yxPV
Milei hints at new wave of state layoffs The president highlighted that 70,000 state contracts will lapse on March 31 while praising previous dismissals ✍️ @FacundoIglesia https://t.co/auUTKmvzqO
#Venezuela cut off the power lines to @argentina’s ambassador’s residence in #Caracas, after six opposition figures under arrest mandate took refuge in the residence #ThisIsVzla https://t.co/zdp1VTB8iO
The President of Columbia said Columbia will sever its diplomatic relations with Israel if it continues to reject the Security Council resolution the demanded Ceasefire.
Argentina posted a third negative economic print during President Javier Milei’s first full month in office, affirming views that the country likely entered into another recession at the start of the year. https://t.co/TccZ1WV8tu
Israel slams Colombian president as a ‘disgrace’ after he threatens to cut off ties https://t.co/koQ8Iua2I9
Why is President Petro of 🇨🇴 acting like this again? Months ago, we uncovered his personal grudge against Israel and his love for Hamas as fellow terrorists. 🧵👇 https://t.co/RaOfRxfkcB https://t.co/v7ySRCb7wc
Israeli FM rebukes Colombian president for threat to cut ties https://t.co/qjIKBh63cG
The President of Colombia @petrogustavo’s support of the Hamas terrorists who massacred and committed horrific sexual crimes against babies, women and adults is a disgrace to the Columbian people. Israel will continue to protect its citizens and will not give in to any pressure… https://t.co/auv91vr6Hi
The President of Columbia @petrogustavo’s support of the Hamas terrorists who massacred and committed horrific sexual crimes against babies, women and adults is a disgrace to the Columbian people. Israel will continue to protect its citizens and will not give in to any pressure… https://t.co/auv91vr6Hi
In Jan-Feb Milei cut real spending by 50% relative to a year ago. It is completely unsustainable. Spending will rise very soon. The fiscal adjustment needed to prevent default in 2025-27 will be politically and socially impossible given Argentina's track record. https://t.co/UCRNSfWLUG