Argentina’s President-elect Javier Milei stated that shutting down the central bank is a non-negotiable matter, according to a statement from his office posted on social media platform X.
In response to what he called “false rumors”, Milei made these comments as he races to put together his team ahead of taking office on Dec. 10. There are signs that he is picking a more moderate Cabinet than expected.
Milei plans to appoint economist Osvaldo Giordano from the central Cordoba region to lead the social security administration ANSES. This signifies a shift from a previous plan to appoint a close ally to lead the administration.
Additionally, private energy sector executive Horacio Marin has been confirmed as the incoming chief of state oil company YPF.
Milei’s more radical reform plans, including dollarizing the economy, shutting the central bank, and privatizing state companies like YPF, will face major hurdles and may take time to implement, if they can be done at all.
His libertarian coalition has a limited number of seats in Congress and no provincial governors. Milei also has to handle demands from the more mainstream conservative bloc, whose public support was crucial to his victory in the run-off election last week.
(Reporting by Gabriel Araujo and Adam Jourdan)
