Argentina’s incoming President, Javier Milei, stated on Friday that the shutdown of the nation’s central bank, a core promise of his campaign, is a matter that is “non-negotiable,” as conveyed in an official statement shared on the social media platform X.
Addressing what he deemed “false rumors,” Milei is swiftly assembling his team before assuming office on Dec. 10, with indications suggesting a more moderate Cabinet than initially anticipated.
Economist Osvaldo Giordano, hailing from the central Cordoba region, will lead Argentina’s social security administration ANSES—a pivotal institution given Milei’s commitment to reducing state spending and subsidies, deviating from the earlier plan of appointing a close ally to this role.
Additionally, the appointment of Horacio Marin, a private energy sector executive, as the incoming chief of the state oil company YPF has been confirmed.
However, Milei faces significant challenges in implementing his radical reform agenda, including dollarizing the economy, closing the central bank, and privatizing state entities like YPF. The feasibility of these measures remains uncertain and would require time. With a limited presence in Congress and no provincial governors in his libertarian coalition, Milei must navigate demands from the more mainstream conservative bloc, whose support was instrumental in his victory in the recent run-off election.
