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Milei Win Sets Up For Radical Shift In Foreign Policy
A win for right-wing libertarian candidate Javier Milei in the 19 November presidential run-off is likely to presage a major shift in Argentina's foreign policy stance as the new administration shifts away from the alliances and partnerships. The countries and groups that had close ties with administration of outgoing President Alberto Fernandez and his Peronist predecessors, who have been in control of the Argentinian gov't for 16 of the past 20 years, are in stark contrast to the nations with whom Milei has stated he will look to foster relations.
- In an early signal of his intent, Milei stated that he wanted his first foreign trips as president to take in the United States (noting his intention to visit New York, as well as Miami - close to former President Donald Trump's Mar-a-Lago residence) and Israel.
- Milei has previously stated that he would not negotiate with 'socialists', singling out China and Brazil. On China, Milei stated that he would not seek to obstruct private enterprises from interacting with the country but that his gov't would not seek closer relations.
- Relations with other LatAm nations could also deteriorate. Brazil, Colombia, Chile, Bolivia and Peru are all under left-wing administrations, while Milei often used the example of Venezuela and its economic collapse as to why his radical 'chainsaw' policy of cutting public spending and dollarising the economy is necessary.
- The president-elect has also stated that he will not take Argentina into the BRICS group, and withdraw from the Mercosur bloc.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.