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Argentina's Milei shuts up critics with miracle turnaround of economy, strong security policies

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Argentina's Milei shuts up critics with miracle turnaround of economy, strong security policies

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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. 

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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. 

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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)

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“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.”

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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)

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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. 

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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)

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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. 

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Iran War Live Updates: Trump Officials and Iran Plan New Talks Despite Mixed Messages

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Iran War Live Updates: Trump Officials and Iran Plan New Talks Despite Mixed Messages

The United States military last week extended its blockade on vessels coming in and out of Iranian ports to the waters of the wider world, declaring that it would pursue any ship aiding Iran, regardless of location on the high seas or flag.

The U.S. “will actively pursue any Iranian-flagged vessel or any vessel attempting to provide material support to Iran,” Gen. Dan Caine, chairman of the Joint Chiefs of Staff, said Thursday, noting that the American troops beyond the Middle East will engage in operations to thwart Iranian shipping.

The extension of the blockade comes as the economically vital Strait of Hormuz remains all but closed to commercial traffic and the two-week cease-fire between the United States and Iran nears an end. The move aligns longstanding American economic policies targeting Iran with the current military campaign against it, maritime and military law experts say.

But it raises a host of legal and practical questions.

“War is a messy thing not just on the combat side but under national and international law,” said James R. Holmes, chair of maritime strategy at the Naval War College.

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“From a legal standpoint, a blockade is an act of war, so the blockade probably is legal to the extent Operation Epic Fury is,” he said using the name of the U.S. military campaign against Iran.

Since Congress has not declared war against Iran, no formal state of war exists between the United States and the Islamic Republic. But Mr. Holmes noted that “undeclared wars are more the rule than the exception in U.S. history,” with joint resolutions of Congress, United Nations Security Council resolutions and NATO decisions invoked to justify fighting.

“This campaign may be more unilateral than most, but it is not without precedent,” he said.

Under international law, the legality of the blockade is “more ambiguous,” said Jennifer Kavanagh, a senior fellow and director of military analysis at Defense Priorities, a foreign policy think tank in Washington.

A state-organized rally in support of the supreme leader Mojtaba Khamenei in Tehran on Friday.Credit…Arash Khamooshi for The New York Times

For a blockade to be legal, Ms. Kavanagh said, it must be “effective,” meaning that it is both enforceable and enforced. Some would argue that a “‘global blockade’ is not permissible in conception” because it is overly broad, she said.

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Still, expansive blockades have taken place throughout history, including during World War II, when states enforced naval blockades worldwide other than in neutral territorial seas. Over the centuries before that, the British blockaded France throughout the Revolutionary and Napoleonic Wars, and during the War of American Independence, the colonies and their allies raided British shipping as far away as the Indian Ocean.

Enforcing expansive blockades is difficult, however.

“The seven seas are a big place, and the largest navy or coast guard is tiny by comparison,” Mr. Holmes said. Whether the U.S. blockade ultimately is deemed “effective,” legally speaking, will depend on whether the U.S. has enough assets like ships, aircraft, boarding crews and intelligence gathering to enforce it.

The blockade does not have to be “airtight” to meet the legal test, Mr. Holmes said, and assessing its effectiveness will be tough for outside observers in any case.

Enforcement may also have to be somewhat selective, he suggested.

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“Now, it is possible our leadership might quietly let a ship proceed when it suits the national interest,” Mr. Holmes said. “For instance, with a summit coming up between President Trump and General Secretary Xi” — Mr. Trump is to meet with China’s leader, Xi Jinping, in May — “Washington might not want to ruffle feathers by obstructing China’s oil imports.”

The expanded blockade is part of a longstanding economic campaign against Iran, but it represents something of a tactical change for the Trump administration.

Earlier in the war, the United States temporarily lifted sanctions on Iranian oil at sea to ease the pressure on global energy prices. And before imposing a blockade on Iranian ports last week, the U.S. allowed Iranian tankers to transit the Strait of Hormuz for the same reason.

Now Washington seems to be returning its focus to keeping pressure on Iran.

“The blockade is a wartime extension of existing U.S. economic sanctions against the Iranian regime,” said James Kraska, professor of international maritime law and a visiting professor at Harvard Law School. In peacetime, he said, the sanctions were a “powerful tool to weaken the Iranian economy.” Now, he said, the blockade serves as a “kinetic expansion.”

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General Caine’s announcement about the expanded naval blockade came one day after Treasury Secretary Scott Bessent announced “Operation Economic Fury,” an effort he called the “financial equivalent” of a bombing campaign. It includes secondary sanctions on institutions internationally, like banks, that have dealings with Iran.

The expanded blockade “marks a notable escalation by the United States,” said Ms. Kavanagh.

Still, she said, it is unlikely to significantly change Iranian calculations.

“For Iran, this war is existential and it is not going to cave easily or quickly,” she said. “Economic pressure may work over the very long term, but Trump seems too impatient for a deal to wait it out.”

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Deadly shooting at historic tourist site leaves one dead, several injured as motive unclear

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Deadly shooting at historic tourist site leaves one dead, several injured as motive unclear

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A Canadian woman was shot and killed Monday, and several others were injured, before a gunman took his own life at Mexico’s popular Teotihuacan pyramids. 

Mexican officials said that four people were wounded by gunfire and two others sustained injuries from falls. Among the injured were tourists from Colombia, Russia, and Canada, according to local government reports via The Associated Press.

A firearm, a bladed weapon, and live cartridges were found at the scene, Mexico’s Security Cabinet confirmed on social media.

The Pyramid of the Moon and the Pyramid of the Sun are seen along with smaller structures lining the Avenue of the Dead in Teotihuacan, Mexico, on March 19, 2020. A gunman killed a Canadian tourist and injured several other before taking his own life at the popular site, authorities said Monday. (Rebecca Blackwell/AP)

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“Our thoughts are with their family and loved ones, and consular officials are in touch to provide assistance,” Canada’s foreign ministry said in a social media post. 

Mexican President Claudia Sheinbaum wrote on social media that the shooting would be thoroughly investigated and that she was in contact with the Canadian Embassy.

TOURISTS TRAPPED IN PUERTO VALLARTA RECOUNT CARTEL RETALIATION AFTER EL MENCHO KILLED

Mexican President Claudia Sheinbaum speaks during her morning press conference at the National Palace in Mexico City on Jan. 5, 2026. (Raquel Cunha/Reuters)

“What happened today in Teotihuacan deeply pains us,” she wrote. “I express my most sincere solidarity with the affected individuals and their families.”

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Sheinbaum said she has instructed the Security Cabinet to investigate the events and provide all necessary support to the victims.

People visit the Pyramid of the Sun in the pre-Hispanic city of Teotihuacan near Mexico City, Mexico, on March 21, 2024, following the spring equinox. (Henry Romero/Reuters)

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“Personnel from the Secretariat of the Interior and the Secretariat of Culture are already heading to the site to provide assistance and accompaniment, along with local authorities,” she said. “I am closely following the situation, and we will continue to provide timely updates through the Security Cabinet.”

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The pre-Hispanic city, located just outside Mexico City, was once one of the most significant cultural centers in Mesoamerica.

Fox News Digital has reached out to Canada’s foreign ministry for comment.

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‘Predators’: Amnesty slams Netanyahu Putin, Trump, as human rights decline

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‘Predators’: Amnesty slams Netanyahu Putin, Trump, as human rights decline

London, United Kingdom – Israel, Russia and the United States are leading the destruction of global human rights, Amnesty International has said, describing the three countries’ leaders as “voracious predators” intent upon economic and political domination.

“A global environment where primitive ferocity could flourish has been long in the making,” Agnes Callamard, the head of the global rights group, wrote in an annual report on the state of the world’s human rights that was released on Tuesday.

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In 2025, “sharp U-turns were taken away from the international order that had been imagined out of the ashes of the Holocaust and the utter destruction of world wars, and constructed slowly and painfully, albeit insufficiently, over these past 80 years,” she said.

In a news conference on Monday in London, Callamard said that most governments tend to appease the “predators” rather than confront them.

“Some even thought to imitate the bullies and the looters,” she said.

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Spain, however, which is an outlier in Europe for its criticism of Israel’s genocide against Palestinians in the Gaza Strip and US-Israeli attacks on Iran, “is standing above the double standard that is destroying the international system”, Callamard said.

She argued that Israel’s Prime Minister Benjamin Netanyahu, US President Donald Trump and Russia’s President Vladimir Putin, who in 2022 sent his forces into neighbouring Ukraine, have had an “absolutely dramatic” impact on the world.

Their conduct is “emboldening all of those that are tempted by similar behaviours,” said Callamard. “It is allowing for the multiplication of copycats around the world, and therefore what we are confronting now is much more aggressive and ferocious than what we had to confront three or four years ago.”

‘Authoritarian practices have intensified worldwide’

Amnesty’s review of the state of the world’s human rights makes for grim reading, documenting attacks on fundamental civil liberties in most nations.

“Authoritarian practices have intensified worldwide”, the report reads, before running through abuses alleged in countries from Afghanistan to Zimbabwe in 400 pages.

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Israel’s genocide in Gaza, Russia’s “crimes against humanity” in Ukraine, and the US-Israeli war on Iran were noted as examples of conflict in which international laws have been ignored.

In a section on repression, the United Kingdom is blamed for cracking down on the Palestine solidarity movement and Palestine Action, the direct-action group that targets sites associated with the Israeli military and is currently fighting a legal battle against its UK proscription as a “terrorist” organisation.

Afghanistan’s Taliban was responsible for further gender-based discrimination in 2025, the report noted, citing measures excluding women from education and work, while Nepalese authorities were said to have failed to investigate instances of gender-based violence against Dalit women.

Amnesty’s report comes as multiple conflicts rage across the world.

The US-Israeli assault on Iran has killed more than 3,000 people, while Israeli attacks in Lebanon have killed nearly 2,400. In Gaza, the confirmed number of people killed in Israeli attacks since October 2023 has surpassed 72,500 as the decimated territory is continually threatened by Israeli bombardment. In Ukraine, more than 15,000 have been killed since Russia’s full-scale invasion began more than four years ago.

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Conflicts in the Middle East are a “product of the descent into lawlessness, made possible by a vision of the world in which war-making and the killings of civilians are normalised”, said Callamard.

“No effective steps have been taken against Israel for its repeated, constant violation of basic standards of humanity.”

However, there is some room for optimism, Amnesty said.

It listed moments of “resistance” such as Gen Z-led protests; the growing number of states joining South Africa’s case against Israel’s genocide at the International Court of Justice (ICJ); the International Criminal Court’s (ICC) crimes against humanity charges against former Philippine President Rodrigo Duterte; the Council of Europe’s special tribunal for the crime of aggression against Ukraine; and the ICC’s arrest warrant against two Taliban leaders for “gender-based persecution”.

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