Argentina’s reforms, and lessons for South Africa – Webinar on new IRR paper

Javier Milei, who assumed Argentina’s presidency in December 2023 on a ticket of radical, if painful, libertarian reform, has embarked on an unprecedented economic experiment.

Can the root-and-branch eradication of a bloated, corrupt government, overpaid and inefficient civil service, and stifling economic regulation, in favour of establishing a free market under a small government, turn around the fortunes of a failing socialist economy?

In just over a year, Milei’s drastic reform measures have produced encouraging numbers on inflation, economic growth and capital flows that suggest his plan is working.

This is the subject of the IRR’s latest paper, written by Ivo Vegter. In a webinar on Thursday morning, Vegter will discuss his research, and suggestions about what South Africa could learn from Milei’s Argentina, with IRR Geopolitics Researcher and host of the Daily Friend Show Nicholas Lorimer.

The report examines the historical background against which Milei was elected, the reforms he decreed or enacted, and the highly encouraging economic consequences of those reforms.

It also proposes some lessons that South Africa can draw from the events in Argentina.

South Africa’s economy closely resembles that in which Milei campaigned for the presidency. It, too, is dominated by a socialist-inclined and frequently corrupt government and crony elite. It, too, is stagnant and unable to relieve poverty or create prosperity for the majority of its people. It, too, is populated by people who are unhappy and disillusioned with the economic performance of the present regime.

The key lesson is that given sufficient time suffering under big government, state-led underdevelopment, and socialist poverty, voters may prove willing to accept short-term economic pain for a radical change of direction, provided the right leader emerges to challenge the governing elite.

Webinar details:

Date: Thursday, 29 May

Time: 10am

To register: https://streamyard.com/watch/Zfrf8iuk3q8Z

Media enquiries: Michael Morris Tel: 066 302 1968 Email: michael@irr.org.za