Milei says not re-electing him would be 'social suicide'

Not re-electing him as Argentina’s president for another four-year term would be tantamount to “social suicide,” Javier Milei declared Wednesday.

“If we don't win, it's because as a society we're choosing to commit suicide,” the La Libertad Avanza leader told a friendly crowd in Buenos Aires, ruling out any relief on austerity ahead of next year's presidential election.

Milei, 55, made the remark at the "Vientos de Cambio" ("Winds of Change") forum, a Latin American libertarian event held at a hotel in Buenos Aires. Several of his own ministers were also among the speakers.

The two-day summit, organised by the Fundación Libertad y Progreso think-tank, brought together government officials, economists and entrepreneurs.

US billionaire Peter Thiel, the Palantir co-founder who has met Milei on several occasions and has bought property and been living in Argentina, had been billed to speak at the forum, though he quietly withdrew in the build-up to the event.

With next year’s re-election bid firmly in mind, Argentina’s President acknowledged growing pressure to ease monetary and fiscal policy, but was unequivocal in his reply: “We are not going to do that … the fiscal result is non-negotiable. And we're not going to negotiate monetary policy either, because we won't stop until we've defeated inflation.”

Populism, he argued, “is not defeated with more populism,” though he conceded in a rare note of caution that “if we don't show results, it becomes difficult to keep people on side.”

The comments came against a backdrop of intensifying debate in Argentina over weak consumption, industrial job losses and mounting household debt.

Earlier in the day, the Unión Industrial Argentina (UIA), the country's leading industrial lobby, warned the government over slumping activity and the loss of 90,000 manufacturing jobs in three years at an event marking Industry Day.

Milei, who has verbally abused leading industrialists who have criticised his economic policy, chose not to attend the UIA event this year.

In his speech, the head of state reasserted his government’s position that eradicating inflation is the government's central goal. He pointed to his record on curbing price hikes, ongoing deregulation and exchange-rate stability as reasons to stay the course.

“In the informal sector, wages have beaten inflation by more than 60 percent. It's not that wages aren't rising – they're doing dishonest maths, cherry-picking the data,” he said. “They only look at the sectors that aren't doing well instead of the ones that are.”

“We can't swallow every lie from this gang of criminals," he said, one of many lines attacking journalists and his opponents.

Turning to next year's vote, Milei struck a defiant note: "My future is already secured – I'm going to make a living giving lectures, this isn't my problem. Do they want to go back to the old model?”

“That's their issue. You'll have the ideas of freedom and progress on one side, and the decadent model on the other," he said, before adding: "If we don't win, it's because as a society we're choosing to commit suicide."

Addressing Latin America more broadly, Milei suggested in his speech that a “key ally that covers a large part of the continent” would join the region's political shift in October – a veiled reference to Brazil's presidential election.

“When you look at how the map's colours have changed, you fill up with hope,” said the right-wing leader. “When I got into politics, the continent was almost entirely painted red; today, in terms of countries, many are already painted blue.”

Inside the forum, the audience was a mix of middle-aged men in dark suits and enthusiastic young libertarians. “I think this is the way forward: always defending private property as a core principle,” said Selene Giuliani, a 23-year-old business student, after hearing Milei speak.

Looking further ahead, Milei forecast a comfortable legislative position for the second half of his term, saying a win next year would hand his party a majority in the Chamber of Deputies and put it within reach of controlling the Senate. “I trust Argentines 100 percent,” he said.

– TIMES/AFP/PERFIL