Argentine President Javier Milei made a forceful pitch for global investors to “bet on Argentina again,” touting the results of his libertarian economic reforms and declaring that the country has ended a century of decline.
Speaking during a keynote address at the Milken Global Conference in Beverly Hills on May 6, Milei said Argentina has reemerged as a “beacon of freedom” for Western civilization alongside the United States. He urged global capital to look toward South America as a major investment destination.
The core of Milei’s speech was not a list of promises, but a series of economic figures meant to demonstrate the scale of his administration’s reforms.
The first achievement he cited was fiscal discipline.
“We broke the myth that it was impossible to adjust 5% of GDP within a single term,” Milei said. “In particular, we completed a fiscal adjustment equal to 15% of GDP in just six months, and that adjustment has been maintained to this day.”
He also expressed confidence in Argentina’s ability to manage its debt.
“We reduced foreign debt by $10 billion, and if inflation-linked instruments are included, we cut total debt by $50 billion,” Milei said. “Argentina is no longer a country that cannot pay its debts. It is now a serial payer that fully deserves a credit rating upgrade.”
He added that Argentina’s debt-to-GDP ratio had fallen from 157% before he took office to about 73%.
Milei said the clearest evidence of his reforms can be seen in the labor market and inflation data. He emphasized that inflation, which had been approaching 300%, has fallen to around 30% and continues to trend downward.
He also pointed to the fact that the feared economic collapse did not occur during the reform process. According to Milei, Argentina’s economy has grown by about 10% since he took office.
“Even though we laid off 75,000 public-sector workers, the private sector created 400,000 jobs,” he said. “By forcing the parasitic structure of the state to bear the cost of adjustment, we lifted 14 million people out of poverty.”
Milei also said Argentina has entered a new era of $100 billion-scale exports and investment. He cited $100 billion in exports, $100 billion in investment through the Large Investment Incentive Regime, or RIGI, and another $100 billion returned to the public through fiscal reductions as new engines of growth for the country.
His political message was equally direct.
Milei said the United States is “rediscovering its essence” under the influence of President Donald Trump, and described the U.S. and Argentina as “sister republics.”
“The convergence of values between our two countries will reopen the door to a free trade agreement that should have been signed 20 years ago,” Milei said, signaling a possible reshaping of the economic map of the Western Hemisphere.
“If the slogan 100 years ago was ‘Go West,’ now it should be ‘Go South,’” he said, emphasizing Argentina’s role as both a future pillar of Western civilization and an investment destination.
Milei closed his speech by invoking John Winthrop’s sermon and declaring his ambition to make Argentina a “city upon a hill.”
He ended with his signature rallying cry: “Viva la Libertad, Carajo!”
