Share this article:XBlueskyFacebookGet Article LinkEditor’s Note: This article was produced in collaboration with our sister publication, GlobalPost. Argentine President Javier Milei took office in 2023 after campaigning with a chainsaw that symbolized his pledge to cut what he saw as wasteful government spending. With support from the International Monetary Fund and a $20 billion financial backstop from the U.S. Treasury Department, he has partially delivered on his pledge. The self-described “anarcho-capitalist” has overseen an austerity plan that has helped bring annual inflation down from 211 percent in 2023 to 33.5 percent in June 2026.