Argentina’s President Javier Milei is planning a visit to the German port of Hamburg on Saturday where he will receive a medal but is also likely to hear loud protests against his ultra-liberal economic policies.<\/p>\n
The Friedrich August von Hayek Foundation, a think tank named after the Austrian pioneer of neoliberalism, plans to award him a medal.<\/p>\n
Stefan Kooths, chairman of the liberal economists’ association and economics professor, praised Milei, who won a convincing majority in November last year.<\/p>\n
Milei’s liberal economic and socio-political agenda aims to tackle Argentina’s longstanding issues such as corruption, a state-dominated economy, soaring debt, and currency instability.<\/p>\n
Argentina, South America’s second-largest economy, is currently in recession with challenges including a bloated state apparatus, low industrial productivity, and a sizable shadow economy undermining tax revenues.<\/p>\n
Milei advocates for radical austerity measures to revitalize the country. In a positive sign, May saw the first decline in annual inflation rates since mid-last year.<\/p>\n
Meanwhile, left-wing groups are planning protests, including a demonstration dubbed “No prize for the extreme right – No medal for Milei” near the Hamburg venue on Saturday, shortly before he is to receive to award.<\/p>\n
Milei has been snubbed by officials on the Spanish leg of his visit, amid a bitter war of words with the left-wing government in Madrid.<\/p>\n
On Sunday, German Chancellor Olaf Scholz is scheduled to meet Milei in Berlin, although a previously planned military honours reception was cancelled.<\/p>\n