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.
World
Video: How Venezuelans Worldwide Reacted to Overthrow of Maduro
new video loaded: How Venezuelans Worldwide Reacted to Overthrow of Maduro
By McKinnon de Kuyper
January 4, 2026
World
Trump says Cuba is ‘ready to fall’ after capture of Venezuela’s Maduro
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President Donald Trump late Sunday predicted Cuba was “ready to fall” after U.S. forces captured Venezuelan leader Nicolás Maduro, warning that Havana can no longer rely on Caracas for security and oil.
Trump said Cuba’s fate is now directly tied to Maduro’s ouster and the collapse of Venezuela’s ability to bankroll allies in the region.
Asked if he was considering U.S. action in Cuba, Trump replied: “I think it’s just going to fall. I don’t think we need any action. Looks like it’s going down. It’s going down for the count.”
The president’s comments during a press gaggle with reporters aboard Air Force One come after Saturday’s capture of Maduro and his wife on charges tied to a narco-terrorism conspiracy. The audacious operation has sent shockwaves through allied governments in the region, with Cuban officials calling for rallies in support of Venezuela and accusing the U.S. of violating sovereignty.
MADURO AND ‘LADY MACBETH’ CILIA FLORES MARRIAGE SPELLS ‘WORST CASE’ CUSTODY SCENARIO
President Donald Trump speaks with reporters while in flight on Air Force One, Sunday, Jan. 4, 2026, as returning to Joint Base Andrews, Md. (AP Photo/Alex Brandon)
U.S. officials say Cuban security forces played a central role in keeping Maduro in power. Secretary of State Marco Rubio said Cuban operatives effectively ran Venezuela’s internal intelligence and security operations – including personally guarding Maduro and monitoring loyalty inside his government.
Protestors rally outside the White House, Saturday, Jan. 3, 2026, in Washington, after the U.S. captured Venezuelan President Nicolás Maduro and his wife in a military operation. (Julia Demaree Nikhinson/AP Photo)
“It was Cubans that guarded Maduro,” Rubio said. “He was not guarded by Venezuelan bodyguards. He had Cuban bodyguards.”
Cuba’s government acknowledged Sunday that 32 Cuban military and police officers were killed during the American operation in Venezuela, marking the first official death toll released by Havana. Cuban state media said the officers had been deployed at the request of Caracas and announced two days of national mourning.
US CAPTURE OF MADURO THROWS SPOTLIGHT ON VENEZUELA’S MASSIVE OIL RESERVES
Trump confirmed Cuban casualties while traveling back to Washington.
“A lot of Cubans were killed yesterday,” he said. “There was a lot of death on the other side. No death on our side.”
Venezuelan leader Nicolás Maduro and Cilia Flores face ‘worst case scenario’ in U.S. custody, according to expert, with federal indictments on drug and weapons charges. ( Juan BARRETO / AFP via Getty Images)
Trump also took aim at neighboring Colombia, accusing its leadership of fueling drug trafficking into the U.S.
UN AMBASSADOR WALTZ DEFENDS US CAPTURE OF MADURO AHEAD OF SECURITY COUNCIL MEETING
“Colombia is very sick, run by a sick man who likes making cocaine and selling it to the United States,” Trump said, adding that the country, “is not going to be doing it for a very long time.”
President of Venezuela Nicolás Maduro speaks during a military ceremony commemorating the 200th anniversary of the presentation of the ‘Sword of Peru’ to Venezuelan independence hero Simón Bolívar on November 25, 2025, in Caracas, Venezuela. (Jesus Vargas/Getty Images)
He suggested the U.S. was prepared to act against narco-trafficking networks operating by land and sea, citing recent interdictions.
Trump also revived his long-standing focus on Greenland, arguing the Arctic territory is critical to U.S. security amid growing Russian and Chinese activity.
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“We need Greenland from the standpoint of national security,” Trump said. “Greenland is covered with Russian and Chinese ships all over the place.”
Trump has framed Saturday’s operation as part of a broader effort to reassert U.S. dominance in the Western Hemisphere, invoking the Monroe Doctrine and warning that hostile regimes can no longer rely on one another for survival.
Maduro is set to be arraigned in federal court in New York on Monday.
The Associated Press contributed to this report.
World
Trump’s abduction of Maduro escalates concerns over potential war with Iran
Washington, DC – Hours after the United States announced the abduction of Venezuelan President Nicolas Maduro, Israeli politician Yair Lapid issued a warning to Tehran: “The regime in Iran should pay close attention to what is happening in Venezuela.”
The forcible removal of Maduro from power came less than a week after US President Donald Trump met with Israeli Prime Minister Benjamin Netanyahu and threatened to launch new strikes against Iran.
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Although Washington’s tensions with Caracas and Tehran have different roots and dynamics, analysts say Trump’s move against Maduro raises the prospects of war with Iran.
“A new lawlessness makes everything less stable and war more likely,” said Jamal Abdi, president of the National Iranian American Council (NIAC).
“Whether Trump becomes enamoured with ‘surgical’ regime change, or gives Netanyahu a US imprimatur for similar actions, it’s hard not to see how this gives momentum for the many actors pushing for renewed war with Iran.”
He added that Maduro’s abduction could prompt Iran “to do something that triggers military action”, including developing its own military deterrence or preempting US or Israeli strikes.
Negar Mortazavi, a senior fellow at the Center for International Policy, also said the US actions in Venezuela show Trump’s maximalist aims, further dimming the chances of diplomacy.
“What I see and hear from Tehran is that they are not interested in negotiating with the Trump administration the way this administration signals that they want total surrender,” Mortazavi told Al Jazeera.
“So, not much chance for diplomacy at the moment, which then opens the path to the opposite road, that is conflict. Right now, Israel, Iran and the US are on a path to potential conflict.”
Abdi echoed that assessment. “This action reinforces every doubt and suspicion about US intentions, and gives more credence to those in Iran who say engaging the US is useless and [that] developing a nuclear deterrent is vital,” he told Al Jazeera.
Iran-Venezuela alliance
The US raid that abducted Maduro and brought him to the US came after months of intensifying rhetoric from Trump against the Venezuelan government.
US officials have accused Maduro of leading a drug organisation, and Trump and his aides have been increasingly arguing that Washington is entitled to Venezuela’s vast oil reserves.
Secretary of State Marco Rubio has also been emphasising Maduro’s ties to Iran, accusing Caracas, without evidence, of providing the Lebanese armed group Hezbollah a foothold in the Western Hemisphere.
Maduro is a close ally of Iran, and the two heavily sanctioned countries have been pushing to deepen their trade ties, which are estimated to be in the billions of dollars.
So, with Maduro gone, Iran’s small network of allies may shrink further, after the fall of leader Bashar al-Assad in Syria and the weakening of Hezbollah in Lebanon.
The Iranian government was quick to condemn the US attack on Venezuela, calling on the United Nations to intervene and halt the “unlawful aggression”.
“The US military aggression against an independent state that is a member of the UN represents a grave breach of regional and international peace and security,” the Iranian Ministry of Foreign Affairs said in a statement.
“Its consequences affect the entire international system and will further expose the UN Charter-based order to erosion and destruction.”
On Saturday, Rubio suggested that Maduro’s abduction carried a message to all of Washington’s rivals in the Trump era.
“When he tells you that he’s going to do something, when he tells you he’s going to address a problem, he means it,” the top US diplomat told reporters.
But Iranian Supreme Leader Ali Khamenei doubled down on his defiant rhetoric after the US raid in Caracas.
“We will not give in to the enemy,” Khamenei wrote in a social media post. “We will bring the enemy to its knees.”
Trump’s threats
Last week, Trump hosted Netanyahu in Florida and threatened to bomb Iran again if the country rebuilds its missile or nuclear programmes.
“Now I hear that Iran is trying to build up again, and if they are, we’re going to have to knock them down,” Trump said. “We’ll knock them down. We’ll knock the hell out of them.”
Israel launched a war against Iran in June, killing the country’s top military commanders, several nuclear scientists and hundreds of civilians.
The US joined in the attack, bombing Iran’s three main nuclear sites.
While Trump has often reiterated that the US strikes “obliterated” Iran’s nuclear programme and celebrated the war as a success, the Iranian governing system survived the assault.
Tehran responded with barrages of hundreds of rockets against Israel, dozens of which penetrated the country’s multi-layered air defences, and Iranian forces were able to keep firing until the final moments of the war, before the ceasefire came into effect.
Some critics argue that regime change was and remains Israel’s goal in Iran, and Trump appears to be increasingly buying into that objective.
On Friday, Trump warned that the US is “locked and loaded” and ready to attack Iran if the Iranian government kills protesters amid the ongoing but sporadic antigovernment demonstrations across the country.
He renewed the same threat late on Sunday. “If they start killing people like they have in the past, I think they’re going to get hit very hard by the United States,” the US president said.
So, could the US carry out a Venezuela-style government decapitation in Iran?
NIAC’s Abdi noted that Israel has already tried to kill the country’s top leaders, including President Masoud Pezeshkian, in June.
Trump also repeatedly threatened Khamenei with assassination, and Israeli officials confirmed that they sought to “eliminate” the supreme leader during the war.
“Iranian officials have said they accordingly have plans in place so that killing or removing senior leaders does not paralyse or topple the regime,” Abdi said.
“It would be far messier to run a ‘snatch and grab’ operation on Iran, given their ability to retaliate against US interests and personnel.”
Venezuela without Maduro
Even in Venezuela, removing Maduro has not translated into a regime collapse, at least for now.
On Sunday, Vice President Delcy Rodriguez, now Venezuela’s acting president, stressed that Maduro remains the country’s only leader and condemned the US attack.
She also suggested that Israel was involved in the abduction of Maduro, a vocal critic of the US ally.
“Governments around the world are shocked that the Bolivarian Republic of Venezuela has become the victim and target of an attack of this nature, which undoubtedly has Zionist undertones,” Rodriguez said.
Trump responded by threatening the acting Venezuelan president, telling The Atlantic magazine that she would pay a “very big price, probably bigger than Maduro” if she did not acquiesce to US demands.
So, the US president’s plans for “running” Venezuela and taking its oil are not complete yet, and will likely require more military action.
“I doubt Venezuela can be a ‘one and done’ or a quick ‘in and out’ situation, which is Trump’s favourite model. His brand is that he engages in quick shows of force, not forever wars,” Mortazavi said.
She cited swift operations that Trump has ordered, including the killing of ISIL (ISIS) leader Abu Bakr al-Baghdadi in 2019, the assassination of top Iranian General Qassem Soleimani in 2020, and the attack on Iran’s nuclear sites in June.
“Most Americans are tired of forever wars, especially in the Middle East, so the Trump administration knows they can’t sell more forever wars to Americans,” Mortazavi said.
But Trump has already floated the prospect of a ground invasion of Venezuela.
“We’re not afraid of boots on the ground,” he said. “We don’t mind saying it, but we’re going to make sure that that country is run properly. We’re not doing this in vain.”
Abdi said that a long-term US involvement in Venezuela could indirectly stave off war with Iran.
“There is also the possibility that the US gets bogged down in ‘running’ Venezuela and doesn’t have the bandwidth to wage, or to support Israel launching, the next Iran war,” he told Al Jazeera.
“Iran was next on the menu after the US invaded Iraq in 2003, and we know what happened there, and Trump may not want to pronounce ‘mission accomplished’ just yet.”
The oil question
Still, some critics – including Republican US Congresswoman Marjorie Taylor Greene – have argued that if the US succeeds in controlling Venezuela’s oil resources, it will be able to offset energy market disruptions from a possible war with Iran.
“The next obvious observation is that, by removing Maduro, this is a clear move for control over Venezuelan oil supplies that will ensure stability for the next obvious regime change war in Iran,” Greene wrote on X on Saturday.
About 20 percent of the world’s oil flows through the Strait of Hormuz, which Iran may push to shut down in the case of an all-out war.
Abdi said that Venezuelan oil “could theoretically provide some cushion” to the loss of exports from the Gulf region.
“But this would mean a lot of things going right for the US in Venezuela, and it is probably far too soon to make that judgement,” he said.
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