World
Argentina's Milei shuts up critics with miracle turnaround of economy, strong security policies
President Javier Milei of Argentina continues to stun his critics with an economy that has outperformed expectations and continues along an ambitious path for national security, including pursuit of a NATO global partnership.
“The fact that you have a president, head of state, who is defending the free market, who is defending the role of entrepreneurs and businessmen as creators of value and just defending deregulation when the tendency in Latin America and much of the West has been to regulate the economy . . . I think that’s very positive, not only for Argentina, but for the region as a whole and maybe beyond,” Daniel Raisbeck, a policy analyst at the CATO Institute, told Fox News Digital.
Milei won the presidency in November last year and prompted concern from some in the West that he would lead his country down a road to ruin with libertarian policies that would make an already troubled economy even weaker. Voters wanted economic relief from a market hit with some of the highest inflation in the world.
Those attitudes have shifted just months later as Milei has enacted a raft of policy changes: The International Monetary Fund (IMF) agreed to release a tranche of loans due to Argentina under a bailout program thanks to Milei’s government managing to create a fiscal surplus in the previous fiscal quarter and bring inflation down.
ARGENTINA REPORTS ITS FIRST SINGLE-DIGIT INFLATION IN SIX MONTHS AS MARKETS SWOON AND COSTS HIT HOME
President of Argentina Javier Milei gives a speech after his Inauguration Ceremony at National Congress on December 10, 2023, in Buenos Aires, Argentina. (Marcelo Endelli/Getty Images)
Argentina’s inflation in March alone hit 287%, causing poverty to deepen, and citizens to take to the streets with strikes and protests against his policies. The monthly inflation rate was 25% in December when Milei first took office.
Milei then went on to significantly reduce spending with major cuts to public-sector wages as he suspended public works projects and cut subsidies. He also devalued the country’s currency by over 50%, which helped it stabilize in value even as the price of basic goods jumped.
The monthly inflation dropped to 8.8% by April, marking the first single-digit inflation rate in over six months.
Argentina recorded a $589 million budget surplus in January and continued to post a surplus for each of the first four months of 2024, even as the surplus shrank to $299 million in April, Reuters reported. This marks the country’s first quarterly surplus since 2008.
Raisbeck stressed that Milei’s primary measure of cutting spending has proven highly effective, while arguing that the significant deregulation in other parts of the economy has helped it revive over those first months of the new administration.
Javier Milei of La Libertad Avanza lifts a chainsaw next to Buenos Aires province governor candidate Carolina Piparo of La Libertad Avanza during a rally on September 25, 2023, in San Martin, Buenos Aires, Argentina. (Tomas Cuesta/Getty Images)
“Argentina was one of the most regulated economies in the world,” Raisbeck said. “So when you have a very well-thought-out package like the one that they introduced . . . and you get rid of as many of those regulations as you can, then it’s very positive.”
AT LEAST 90 INJURED AFTER PASSENGER TRAIN HITS BOXCAR, DERAILS IN ARGTENTINE CAPITAL
He noted that Milei has not adhered to some of his more aggressive campaign promises, which included a promise to dollarize the economy and shut down the Central Bank, saying that it was a “non-negotiable matter.”
Even days after he won the election, Milei appeared to favor more moderate Cabinet members than many would have expected of a man who jolted the international community with his outsider attitude and plans.
Students protest for more public university funding and against austerity measures proposed by President Javier Milei, featured on the sign, in Buenos Aires, Argentina, Tuesday, April 23, 2024. The posters read in Spanish, “With fascism, there are no rights,” center, and “Why so much fear to educate the people?” and “Defending the university is defending the country.” (AP Photo/Natacha Pisarenko)
The Wall Street Journal, in December 2023, argued that Milei’s tenure “may turn out to be pretty conventional,” with pro-market Economy Minister Luis Caputo leading away from Milei’s more radical plans.
The promised dollarization has been delayed, and Raisbeck explained that Milei’s approach has relied heavily on using the Central Bank to help regulate the economy, though he argued that Milei’s policies remain libertarian due to the deregulation he has pursued in other areas.
A vendor waits for customers at the central market for fruit and vegetables in Buenos Aires, Argentina, Friday, May 10, 2024. (AP Photo/Natacha Pisarenko)
“Everything related to deregulation is very libertarian, and we’ve seen great success already in the housing market, for instance,” Raisbeck said. “So that obviously brought a huge amount of supply that was suppressed because of price controls.”
Milei also brought Argentina back to the international foreground, with a stronger focus on national security and changing up the country’s goals from the previous administration – most notably, he rejected the invitation to join the China and Russia-led economic bloc BRICS.
PERUVIAN LAWMAKERS BEGIN YET ANOTHER EFFORT TO REMOVE PRESIDENT DINA BULARTE FROM OFFICE
A supporter holds a giant dollar bill with the face President elect Javier Milei as people start gathering outside National Congress ahead of his inauguration ceremony on December 10, 2023, in Buenos Aires, Argentina. (Marcelo Endelli/Getty Images)
Milei argued that it was not “opportune” for Argentina to join the bloc as a full member, according to German outlet DW. However, he will continue to develop ties with its members in the meantime.
“They have a good security minister, Patricia Bullrich, who has experience because she was a security minister in the previous government,” Joseph M. Humire, the executive director of the Center for a Secure Free Society, told Fox News Digital. “She has been able to get the ball rolling very quickly, and I think that was the benefit of having her in that position.”
Supporters of presidential candidate Javier Milei gather outside his headquarters during the presidential runoff election in Buenos Aires, Argentina, Sunday, November 19, 2023. (AP Photo/Rodrigo Abd)
Humire explained that Milei’s government has largely focused on clearing out external agitators, particularly those connected to Russian disinformation networks, which remain a paramount concern in most parts of the world as Moscow seeks to expand its influence.
“The external forces are usually the key,” Humire said. “Usually, it’s the Russians. The Russians have probably the biggest disinformation networks to be able to amplify local grievances and turn them into this macro instability, and they did that in Colombia, in Chile.”
“A lot of the specifics of the nation’s security has been in mitigating these agitation networks that create chaos throughout the country, and they have been neutralizing some of these threats while they’re studying others,” he added.
The Associated Press contributed to this report.
Tehran holds back from talks to cement ceasefire due to ongoing Israeli attacks on southern Lebanon.
Published On 19 Jun 2026
Planned talks in Switzerland between the United States and Iran to discuss the technical terms of their ceasefire deal have been postponed.
The Swiss Foreign Ministry confirmed early on Friday that the talks, which were scheduled to take place in Burgenstock, would now not go ahead.
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Reports suggest that Iran has delayed sending its delegation to discuss the technical issues linked to the ceasefire deal – digitally signed by the two countries on Wednesday – due to Israel’s ongoing military campaign in Lebanon.
Israeli strikes overnight and into Friday have reportedly killed at least 16 people in southern Lebanon, with Iran-linked Hezbollah reporting intense fighting.
Talks postponed
A ceremony followed by talks was expected to be held at the Burgenstock Resort in Stansstad, near Lucerne in central Switzerland.
It is owned by Katara Hospitality, part of Qatar’s sovereign wealth fund, which helped mediate peace in the conflict.
On Friday, in a message to media outlet AFP, the Swiss foreign ministry said: “The planned talks between the US, Iran, Qatar and Pakistan have been postponed”.
“Switzerland remains ready to facilitate these talks. The relevant preparatory work at Burgenstock is continuing,” it added, without providing a new date for the talks.
The announcement followed a report from media outlet Al-Mayadeen that Iran was delaying sending its delegation to Switzerland over Israel’s ongoing military campaign in Lebanon.
Israeli Prime Minister Benjamin Netanyahu said Thursday that Israel’s military will stay in a “security zone” of southern Lebanon as long as “Israel’s security needs require it.”
Israel and Hezbollah are not parties to the agreement, but Iran has insisted Israel must withdraw from the large swath of southern Lebanon it is occupying.
Logistics have never been ‘simple or predictable’
The US push to quickly begin high-stakes talks with Iran hit a snag just two days after the signing of a 14-point memorandum of understanding with the US that sets out a framework for talks during a 60-day negotiation period.
Vice President JD Vance had been prepared to make an overnight flight to meet with his Iranian counterparts at the mountainside resort in the tiny Swiss village of Obburgen.
His staff and a small pack of journalists had even gathered at Joint Base Andrews outside Washington in anticipation of the trip.
Meanwhile, dozens of White House officials, advance staffers and more media gathered in Switzerland to prepare for Vance’s anticipated arrival.
But then, abruptly on Thursday evening, the trip was called off.
The White House issued a statement explaining Vance – who has been tapped by President Donald Trump to lead the negotiations – and his delegation were prepared for talks, but they were unable to finalise plans and the vice president would remain in Washington.
“The logistics of these negotiations have never been simple or predictable,” the statement noted.
Also on Thursday, Pakistan’s Prime Minister Shehbaz Sharif cancelled his trip to Switzerland, his spokesperson told AFP.
new video loaded: A Small Election Could Change British Politics
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A Small Election Could Change British Politics
Voters in the northern English district of Makerfield cast ballots on Thursday to choose their representative in Parliament, the outcome of which could lead to Prime Minister Keir Starmer’s ouster.
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Well, I don’t think there should be a leadership election. I think that the last government proved that parties that spend their whole time in leadership elections don’t go on to win the next general election.
By Alisa Shodiyev Kaff
June 18, 2026
World
From bear hugs to handshakes: How India lost its edge with Trump while Pakistan quietly gained ground
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This week, President Donald Trump and Indian Prime Minister Narendra Modi came face-to-face at the G7 summit in France, their first such encounter since February 2025. Rather than his trademark bear hug, Modi greeted Trump with a smile and handshake.
Then on Wednesday, the two held a bilateral meeting. It was a friendly chat, but one that came against a backdrop of compounding tensions.
As India works at restoring its relationship with Washington, its arch-foe Pakistan has expanded its own diplomatic profile, complicating India’s campaign against its nuclear-armed rival.
COMMERCE SECRETARY HOWARD LUTNICK MAKES QUIET TRIP TO INDIA DAYS AFTER TARIFF SETBACK
President Donald Trump looks at Pakistan’s Prime Minister Shehbaz Sharif speaking following the official signing of the first phase of the Gaza ceasefire agreement between Israel and Hamas. Shariff announced his intention to nominate Trump for the Noble Peace Prize for a second time. (Evelyn Hockstein / Reuters)
For years, India built an international case against Pakistan, projecting it as an isolated or destabilizing state. This hardline stance appeared to be working, with Modi declaring to Pakistan, “India has been successful in isolating you, and we will intensify those efforts.”
But a decade later, Pakistan is rapidly emerging as a key global player in the region and beyond.
While Modi initially tried to engage Pakistan, his government’s approach eventually hardened around the mantra that “terror and talks cannot coexist.”
In Washington, India has typically been favored, with Presidents Trump, Biden, Obama and George W. Bush all making visits during their time in office.
President Donald Trump (R) shakes hands with Indian Prime Minister Narendra Modi during a bilateral meeting at the G7 Summit on June 17, 2026 in Evian-les-Bains, France. (Anna Moneymaker/Getty Images)
Modi built a rapport with Trump during his first term in office and was one of the first world leaders invited to the White House after Trump’s inauguration. But over the past year, that relationship has come under strain as Islamabad quietly clawed its way back to credibility.
“India misjudged Trump in term two, banking on once friendly relations,” Sid Dubey, a visiting professor at Bennett University in India, told Fox News Digital. “They have yet to start recovering from that.”
PRESIDENT TRUMP, INDIA’S MODI TO TACKLE TRADE, TARIFF TENSIONS AT HIGH-STAKES MEETING
U.S. President Donald Trump and Indian Prime Minister Narendra Modi wave to the crowd at Sardar Patel Stadium in Ahmedabad, India, Monday, Feb. 24, 2020. India poured on the pageantry with a joyful, colorful welcome for President Donald Trump on Monday that kicked off a whirlwind 36-hour visit meant to reaffirm U.S.-India ties while providing enviable overseas imagery for a president in a re-election year. (AP Photo/Aijaz Rahi)
The shift first became apparent in May 2025, when President Trump announced he had secured a ceasefire between nuclear-armed India and Pakistan. The fighting had come over India-administered Kashmir and was the worst in decades.
Islamabad promptly praised Trump for ending the deadly dispute and even nominated him for a Nobel Peace Prize. New Delhi, however, rejected the claim, insisting the ceasefire was the result of direct bilateral talks with Pakistan.
The response reflected India’s long-standing sensitivity to third-party involvement in what it fiercely maintains is a bilateral dispute.
In the months that followed, frictions only deepened.
FILE — In this Jan. 11, 2013 file photo, a Pakistani Ranger in black uniform and his Indian counterpart march during a flag-off ceremony, at the joint Pakistan-India border check post of Wagah near Lahore, Pakistan. (AP Photo/K.M. Chaudary, File)
President Trump hit India with some of the steepest tariffs imposed on any major economy. Meanwhile, U.S. sanctions pressure on Russian oil rattled energy import-dependent India, while disputes over H-1B visas added further strain. Analysts say Trump’s America First agenda increasingly overshadowed the friendship Modi had cultivated during Trump’s first term.
“When Trump unfortunately said the May 2025 clash ended because of him personally, that upset India a lot, and they made that known,” Dubey said. “Then the tariffs were another slap in India’s face. Meanwhile, Pakistan took advantage, leaving India at a bit of a loss. From there, relations fell further with the Iran conflict.”
India is among the countries most indirectly affected by the strategic fallout from the Iran war, facing economic pressure and mounting energy concerns.
IRAN WAR FUELS ASIA ENERGY CRUNCH AS INDIA, JAPAN, OTHERS FEEL STRAIN
Iranian Parliament Speaker Mohammad Bagher Ghalibaf meets with chief of Defence Forces of Pakistan, Field Marshal Asim Munir, in Tehran, Iran, May 23, 2026. (Iranian Parliament Speaker Office/WANA (West Asia News Agency)/Handout via Reuters)
Last week, a U.S. strike further exacerbated tensions after three Indian seafarers became collateral damage in the conflict. They were the first and only seafarers confirmed killed as part of the U.S. blockade, sparking outrage across India.
New Delhi instantly summoned Washington’s Chargé d’Affaires Jason Meeks, expressing deep concern over the renewed attacks and arguing that its nationals were becoming casualties in a war not their own.
India also warned of the broader humanitarian, economic, and energy consequences of the conflict, which are expected to linger even as an agreement has now been reached.
U.S. Vice President JD Vance, center, walks with Pakistan’s Chief of Defence Forces and Chief of Army Staff Field Marshall Asim Munir, left, and Pakistani Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar after arriving for talks with Iranian officials in Islamabad, Pakistan, Saturday, April 11, 2026. (Jacquelyn Martin/Pool via AP Photo)
All the while, Pakistan was gaining diplomatic visibility, finding itself in the unusual position of currying favor in Washington while maintaining deep ties with China, Iran and the Gulf states.
Pakistan’s prominent role in recent months highlighted how Islamabad has been more nimble in its diplomacy than India,” Council on Foreign Relations Senior Fellow Sadanand Dhume told Fox News Digital. “Additionally, Pakistan decisively outmaneuvered India’s quixotic bid to isolate Pakistan on the world stage.”
Regional dynamics have also been reshaped by the two rivals’ competing strategies. India has deepened its strategic partnership with the U.S. through alliances such as the Quad partnership with the U.S., Australia, and Japan and has expanded cooperation across South Asian states, including a burgeoning relationship with Afghanistan. Meanwhile, Pakistan’s growing regional relevance has been reflected in its strengthened ties with China, improved relations with regional partners like Bangladesh and expanded security cooperation with Gulf states.
RUBIO VISIT TO INDIA PUSHES DEEPER ENERGY TIES AS IRAN CONFLICT RATTLES GLOBAL OIL MARKETS
Additionally, Trump, who accused Pakistan of “deceit and lies” during his first term, has since repeatedly praised its leadership. In June 2025, the president invited Pakistan’s army chief Asim Munir to the White House for a high-profile lunch meeting.
Munir was the first Pakistani military chief who was not also president to be hosted by a U.S. president. He also led the war effort against India earlier that year.
In this photo released by the Inter Services Public Relations, Pakistan’s Chief of Defense Forces and Army Chief Gen. Asim Munir, center, Pakistan Naval Chief Admiral Naveed Ashraf, left, and Pakistan Air Force Chief Air Chief Marshal Zaheer Ahmed Babar attend a guard of honor ceremony at the joint military command headquarters in Rawalpindi, Pakistan, Monday, Dec. 8, 2025. (Inter Services Public Relations via AP)
Trump described Munir as his “favorite Field Marshal” and an “exceptional human being.”
Their relationship has been further reflected in trade deals and, most recently, Pakistan’s role as a principal mediator in restoring diplomacy between the U.S. and Iran.
“India tried to make Pakistan an international pariah. Instead, Pakistan has wormed its way into Trump’s good books through a combination of concrete co-operation with the U.S. and outrageous flattery of the president, leading to Trump elevating Field Marshal Asim Munir and Prime Minister Shehbaz Sharif as heroes,” Dhume said.
India, meanwhile, has maintained close ties with Israel while generally sticking to more measured messaging.
TRUMP’S FAVORITE FIELD MARSHAL: WHO IS PAKISTAN’S POWERFUL ARMY CHIEF ASIM MUNIR WITH DEEP INTEL TIES
On June 15, upon the agreement of a deal with Iran, Modi released a statement, saying, “India hopes that the implementation of this understanding will help restore peace and stability in the region and ensure the freedom of navigation and commerce.”
“Hats off to Pakistan. They worked really hard to bring this awfully disruptive war with Iran to an end,” Dubey told Fox. “India unfortunately lost out by not seeking to be a problem solver like Pakistan. It could have played its cards better as a peacemaker, given its traditionally strong relations with Tehran.”
Still, analysts caution these are rapidly evolving dynamics. There is no guarantee that Pakistan’s current moment will last, and the tide for India could still turn.
“Pakistan’s mediation role has allowed it to substantially reset its international image. It has positioned itself as a responsible international actor rather than a rogue state responsible for both nuclear proliferation and exporting Islamic terrorism. How long this lasts depends in large measure on two things: will Pakistan find a way to remain in Trump’s good books, and will it be able to change its behavior sufficiently to convince the world that it has indeed turned over a new leaf,” Dhume told Fox News Digital.
Meanwhile, India is working to regain its position and show the U.S. it is still a reliable partner.
Marco Rubio visited India last month, his first since becoming Trump’s top diplomat last year, which was widely seen as an attempt to reset ties.
Secretary of State Marco Rubio speaks as President Donald Trump looks on during a cabinet meeting in the Cabinet Room of the White House in Washington, DC, on April 30, 2025. (JIM WATSON/AFP via Getty Images)
Trump and Modi’s G7 meeting marked another significant step.
Trump praised Modi as “calm, cool and totally killer” and said he would be traveling to India “sometime in the future.” India has been pressing Trump for a visit, potentially as part of a broader meeting involving Japan and Australia.
Trump also said the United States would defend India.
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“If anybody attacks that man, we’re going to be there,” Trump said, referring to Modi. “Now, if there’s a new leader, I’m not sure about it.”
The Pakistani and Indian governments did not respond to Fox News Digital requests for comment.
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