Argentina: Milei’s spokesperson says ‘there is no money’ – 12/11/2023 – Market

Javier Milei kicked off his government in Argentina and chose an economist as spokesman to give his first message to the country. In a press conference, which should become daily, communicator Manuel Adorni repeated the phrase that the new president adopted and which has already become a t-shirt on the streets.

“There is no money, it’s not just a common phrase. Let’s strictly respect fiscal balance. This logic of spending more than you have is over,” he said, also responding that there is no way to make predictions for the market and the dollar for this Monday (11), because “there is something that we are going to finish, or try to finish, which is futurology”.

Adorni frustrated expectations of an announcement of Milei’s first economic measures against inflation, the big issue dominating Argentina at the moment. But he stated that this announcement will be made by the new Economy Minister, Luis Caputo, this Tuesday (12), at a time to be confirmed.

A large package of laws was expected for the day after the inauguration, which has not happened so far. There is also speculation about an abrupt devaluation of the peso, which Milei has not confirmed. He participates in his first cabinet meeting with his ministers this Monday morning.

The spokesperson was also asked a lot about what public servants should expect, who have been experiencing a climate of apprehension since Milei’s election, as the ultra-liberal promises a great wave of privatizations and downsizing of the State. He responded that “no one who works should worry.”

“What we are going to combat is what is called militant employment, which exists for a political reason, which does not contribute anything. […] I do not see any type of conflict nor do I consider that any public employee should be concerned about their job. None of those who work, who are valid, who bring value, like each one of you and me, have to have any type of concern,” he said.

And he reinforced: “There is a firm decision by President Milei to end political employment, militant employment. This employment will cease to exist.”

Adorni, who is also a professor and has worked as a commentator in the media, also sought to get closer to the press, saying that “respect for journalism, respect for each one of you [repórteres] and respect for free opinion for me are non-negotiable”.