Markets Cheer as Milei Drops Dollarization for Macri Brass
- Days after election win, Milei leaves behind loyal advisers
- Nation’s foreign bonds extend rally as investors eye policy
Javier Milei.
Photographer: Anita Pouchard Serra/BloombergThis article is for subscribers only.
In the blink of an eye, Argentine President-elect Javier Milei pivoted away from advisers advocating for his most dramatic campaign promises, choosing Wall Street veterans closer to former leader Mauricio Macri.
Milei’s boldest campaign proposals — dollarization and closing the central bank — appear at least on hold for now amid a staffing shake up. Milei distanced himself from his dollarization guru, Emilio Ocampo, and on Friday another hawkish adviser from early in the campaign, Carlos Rodriguez, announced on X he was departing. Milei had repeatedly said he’d name Ocampo to lead Argentina’s central bank, though he reiterated Friday that closing the institution was “non-negotiable.”