Kirchner Accuses Milei of Repeating Past Economic Mistakes, Warns of “Time Bomb”
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ArgentinaS economic future is facing renewed scrutiny as former President Cristina Kirchner sharply criticized current President Javier Milei‘s recent budget presentation and optimistic claims that “the worst already happened.” Kirchner alleges Milei’s policies echo those of previous administrations, specifically drawing parallels to the Macri government and warning of impending economic instability.
Kirchner took to social media following Milei’s national address, questioning his assertion that the country has overcome its most significant economic challenges. “Oh milei… really the worst already happened? Daaaale!” she wrote, adding that the situation mirrors 2018, when the Macri governance was forced to seek assistance from the International Monetary Fund (IMF) to address a currency crisis fueled by “Carry Trade” practices dating back to 2016.
Echoes of the Past: Familiar Faces and Policies
The former president’s critique extended beyond broad policy comparisons, focusing on personnel. Kirchner pointedly noted the reappearance of key figures from the Macri administration within Milei’s government, most notably Toto Caputo, the current Minister of Economy. “It’s all so the same… the same one who handled finance and indebtedness in the macri government, today is your Minister of Economy,” she stated, referencing Caputo’s previous role as a trading chief for Latin America at JP Morgan Chase. This continuity, according to Kirchner, suggests a troubling lack of fundamental change in Argentina’s economic approach.
Kirchner also challenged Milei’s claims of fiscal balance, dismissing them as reliant on “dollars and monetary issuance present and future” coupled with “interest rates… that burst economic activity.” She described the situation as “a true time bomb… ICT TAC can already listen to it from San José 1111,” a reference to the presidential palace.
The “Chainsaw” and Allegations of Corruption
A central theme of Milei’s campaign and early presidency has been austerity, often symbolized by the “chainsaw” – a promise to drastically cut government spending.However, Kirchner argued that these cuts are disproportionately impacting ordinary citizens. “Many already understood that,in reality,the chainsaw was for them… For their jobs,their salaries,their retirement,their medications,their food…” she wrote.
She further alleged that the promised cuts to the “caste” – a term Milei uses to describe the political establishment – have not materialized,with benefits instead accruing to those within Milei’s inner circle. Kirchner also referenced an alleged corruption scandal at the National Disability Agency (Andis), implicating the Secretary General of the Presidency, Karina Milei, and her close associates.
A Shift in Tone, But a Warning Remains
Kirchner acknowledged a noticeable change in Milei’s public demeanor, noting that his recent national address was delivered without the insults and aggressive rhetoric that have characterized his previous appearances. However, she cautioned that a change in tone is insufficient. “you are on time… for now you already changed the tone and shape (which is not less) … but be careful than the problem is not onyl a matter of ways, but in the background,” she warned.
concluding her critique, the twice-president urged Milei to reconsider his ideological foundations. “Remember what I told you about the dogmas and prejudices the day I took you an oath as president… pay attention to me… leave the books of the Austrian school, which Argentina needs a realistic economic policy that contemplates the true interests of the country and its people,” she stated.
Pro tip: Understanding the historical context of Argentina’s economic policies, particularly the Macri administration and its relationship with the IMF, is crucial to interpreting Kirchner’s critique.
Reader question: What specific policies of the Macri administration is Kirchner referencing when she warns of repeating past mistakes?
