International

Milei celebrates 100 days as president, between the controversy and his obstinacy about the course

The president of Argentina, Javier Milei, celebrates 100 days of management this Tuesday, in which he has shown obstinacy in the course to achieve fiscal balance and reduce the weight of the State to lower inflation, despite the setbacks in Congress; the fall in purchasing power and criticism for his confrontational method.

In several publications that Milei replied on his social network account X, a direct media that he appreciates a lot, he celebrated that he “avoided the hyperinflation” that was “activated” by his predecessor, the Peronist Alberto Fernández (2019-2023); he began the “sustained process of disinflation” and the decrease in country risk, today at 1,520 basis points.

In terms of security, he replied messages that say that he “ended the pickets” and “he stood against insecurity and narco-terrorism,” and as for corruption, “the amount of illegalities” that he is discovering.

Milei took advantage of this Tuesday to exhibit the unit with her vice president, Victoria Villarruel, on social networks, where they came to publish a photo hugging, after she participated in the meeting of the Cabinet of ministers in the Casa Rosada: “Those who are fighting…!!!,” the president said ironically.

The relationship between Milei and Villarruel reached a peak of tension last week due to the decision of the vice president – who also chairs the Senate – to convene a session in the Upper House where the megadecree of necessity and urgency (DNU) signed by the president in December was rejected.

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The presidential spokesman, Manuel Adorni, defined the first 100 days as “a case study” and “an atypical case,” in his usual press conference at the Executive headquarters.

Adorni listed that since Milei took office on December 10, Congress rejected the DNU and a fundamental bill for the Executive, the main union center called for a general strike on January 24 and there were train and bus stops.

In addition, the Patagonian province of Chubut threatened to cut off the supply of hydrocarbons and opposition groups “fantasized” that the far-right would fall for these months.

“This was the only Government (…) that in the first days of the Government has meticulously fulfilled each of the points it had promised in the campaign,” Adorni said, because it “attacked from the outset” the fiscal deficit and clung to the balance of public accounts to “end inflation and the destruction of the currency.”

Milei is an ‘outsider’ who, with aggressive speech and disruptive forms against the “political caste,” won the elections in a second round last November, with 56% support.

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“No other government so far had been encouraged to put their hand in politics’s pocket” or “exposed as much to politics” as Milei’s, Adorni said.

Fernández is one of the opposition politicians who criticized the first 100 days of Milei, by showing on his social networks that inflation rose by 71.3%, industrial production fell by 19.4%, retail sales of SMEs fell by 23% and the real salary of registered private workers fell by 27.1%, among other negative indicators.

Amnesty International Argentina warned that the “confrontation” practiced by the Government of Milei is to divert attention from those real conflicts – inflation, poverty, lack of medicines – and violate freedom of expression, and asked for “basic rules of coexistence and non-aggression, especially from the presidential investiture and its collaborators.”

Despite the severe economic adjustment that causes a loss of purchasing power, with inflation that climbed to 276.2% year-on-year last February, Milei maintains a positive image of more than 50%, according to opinion polls.

In that sense, the Government of Milei also boasts of having “changed the concept of governance” because now “it is given by the support of the people,” in a context in which its far-right party, La Libertad Avanza, only has 38 deputies, 7 senators and no provincial governor.

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Adorni acknowledged that “there is still a lot to do,” remembering that seven out of ten minors are still poor in Argentina, but that “this time a new sun comes to impoverished Argentina.”

International

US panel backs Trump-themed coin amid controversy

The United States Department of the Treasury confirmed to AFP that the Commission of Fine Arts approved the design of a new collectible coin featuring Donald Trump, with members of the commission appointed by the current administration.

According to the proposal, the coin will feature an image of Trump standing with clenched fists over a desk on the obverse, while the reverse will display an eagle, a traditional symbol of the United States.

The sale price of the collectible has not yet been disclosed, although the United States Mint typically offers similar items for more than $1,000.

“There is no more iconic portrait for the front of these coins than that of our president Donald Trump,” U.S. Treasurer Brandon Beach said in a statement sent to AFP. He added that two additional coins — a $1 piece and a one-ounce gold coin — are also under consideration.

However, the Citizens Coinage Advisory Committee (CCAC), another body responsible for reviewing new coin proposals, declined to discuss the Trump design in late February.

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“Only nations governed by kings or dictators place the image of a sitting leader on their currency,” said Donald Scarinciat the time. “No country in the world has minted coins featuring a democratically elected leader during their term in office,” he added.

When contacted by AFP, the Treasury Department did not immediately respond to requests for further comment.

International

Fed’s Waller warns of rising inflation risks amid Middle East conflict

Christopher Waller, a governor at the Federal Reserve, said Friday that he is increasingly concerned about the inflationary impact of the ongoing conflict involving United States and Israel against Iran, particularly due to the prolonged closure of the Strait of Hormuz.

Waller, who had supported interest rate cuts over the past year amid concerns about the labor market, said he has shifted his stance in recent weeks due to rising inflation risks.

“Since the Strait of Hormuz was closed, it suggests this conflict could be much more prolonged and that oil prices will remain elevated for longer,” Waller said in an interview with CNBC.

“Therefore, this indicates that inflation is a greater concern than I had previously assessed,” he added.

Waller also backed the Federal Reserve’s decision earlier this week to keep interest rates unchanged, signaling a more cautious approach as global geopolitical tensions continue to affect economic outlooks.

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International

Brazil offers to mediate Colombia-Ecuador tensions, calls for restraint

The government of Brazil has offered to mediate in the ongoing tensions between Colombia and Ecuador, while calling on both nations to exercise restraint.

In a statement released Wednesday, Brazil’s Ministry of Foreign Affairs urged the parties involved to act with moderation and seek a peaceful resolution to the dispute.

“Brazil encourages all sides to act with moderation in order to find a peaceful solution to the controversy. It stands ready to support dialogue efforts aimed at preserving peace and security in the region,” the statement said.

Brazil also expressed “serious concern” over reports of deaths in the border area between Colombia and Ecuador, noting that the circumstances surrounding the incidents have not yet been clarified.

The diplomatic move comes amid rising tensions between the neighboring countries, increasing regional concern over stability and security along their shared border.