Argentina’s President Implements ‘Chainsaw Economy’ with 70,000 Civil Servant Layoffs

In a bid to reduce the size of the government apparatus and tackle soaring inflation, Argentine President Javier Miley has announced plans to cut 70,000 civil servant pay in the coming months. The move is part of an effort to undo decades of decline and restore economic stability.

Miley made the announcement during his inauguration ceremony in December 2023, where he delivered a keynote address emphasizing the need for shock therapy. He stated that significant spending cuts are necessary due to lack of funds and promised to reduce public debt.

The decision has been met with criticism from some sectors, who argue that it will lead to job losses and exacerbate social inequality. However, Miley has defended his approach as necessary for long-term economic growth and development.

Miley’s approach has been compared to that of former U.S. President Donald Trump and Brazilian President Jair Bolsonaro, who also implemented similar policies in their respective countries. However, Miley has stressed that his approach is unique and tailored to Argentina’s specific needs and circumstances.

Overall, Miley’s announcement marks a significant shift in economic policy under his leadership, as he seeks to restore stability and growth in Argentina after years of decline.

By Samantha Johnson

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