Argentina eyes Milei Congress speech as markets rise and protests build
By Walter Bianchi
BUENOS AIRES (Reuters) — All eyes were on Argentina's combative libertarian President Javier Milei on Friday ahead of a prime time state-of-the-union style speech set for the evening opening of Congress, even as protests started to build on the streets and markets rallied.
The outsider economist and former TV pundit, who wants to shake up Argentina's embattled economy with «chainsaw» cost cutting, privatizations and market-led policies, is winning over markets but facing push back from workers and lawmakers.
His evening speech will be closely watched, after Congress rebuffed his signature reform bill last month and could take their knives to his sprawling decree rolled out when he took office in December as regular legislative sessions begin.
Milei could moderate and reach across the aisle — he needs to with only a small share of the legislature — or come out fighting after he slammed lawmakers and governors as «traitors» for opposing his bill and said Congress was a «nest of rats».
«People are waiting to see the content and tone of the president's words,» local finance firm SBS Group said in a report.
«The event is taking place in the context of recent tensions, both with the provinces and with other political actors after the fall of the 'omnibus law' a few weeks ago, as well as distorted prices hammering people's purchasing power.»
Inflation over 250%, which predates Milei but rose after he devalued the peso currency sharply in December, has pushed up poverty levels seen nearing 60%, raising tensions among workers and unions, and prompting more strikes and protests.
Further protests are expected around the capital on Friday afternoon against subsidy cuts and outside Congress.
Some powerful regions
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