On February 25, 2025, Javier Milei, the President of Argentina, was awarded the prestigious title of "Economist of the Year" by the Ordem dos Economistas do Brasil (OEB), during a significant meeting held at the Casa Rosada, the seat of government in Buenos Aires.
The ceremony was attended by notable figures including Manuel Enríquez García, the President of OEB, and Sandra Pettovello, Minister of Human Capital of Argentina. It was during this meeting the honor was formally presented, depicting the mutual cooperation between Argentina and Brazil.
This recognition follows Milei's ambitious economic reforms since his inauguration at the end of 2023, which aimed to address Argentina's dire inflation crisis. Under his leadership, inflation rates have decreased significantly from 211% to 117.8%—a historic reduction noted by the Instituto Nacional de Estatística e Censos (Indec).
The OEB justified their decision to honor Milei, attributing the award to his strategic vision and commitment to stabilizing the Argentine economy during turbulent times. “Your Excellency has acted with wisdom and determination on monetary and regulatory policies, which have played a key role in stabilizing the Argentine economy amid many challenges,” stated Manuel Enríquez García during the award announcement.
The award ceremony is set to take place in Brazil, and it is expected to occur around August 2025, contingent on Milei's travel plans. Reports indicate he may schedule a three-day agenda, potentially fostering closer ties between the two nations.
Since assuming power, Milei implemented drastic austerity measures, including halving the number of governmental ministries, suspending public works, and significantly cutting funding for education and health. This approach has drawn both praise and criticism. While the economy saw growth rates of 3.9% by the third quarter of 2024, critics point out the associated social costs, with the poverty rate surging amid slashed social programs.
The Brazilian economists who voted for Milei expressed their belief his policies are driving Argentina toward significant economic recovery. The unanimous decision reflects his influence and the OEB's commitment to honoring contributions to economic profession without ideological bias, as emphasized by García.
While the acknowledgment of Milei's policy successes has been welcomed by some sectors, it was met with skepticism from others, including the Conselho Regional de Economia do Estado de São Paulo (Corecon-SP), who expressed their surprise at the recognition. It noted, via president Odilon Guedes, the distinction was not bestowed by the representative body for Brazilian economists, who called for clarity on the award’s legitimacy.
Despite Milei's economic reforms leading to record fiscal surpluses for the Argentine government, his administration also faces inquiries from the Ministry of Public Affairs concerning allegations of misuse of funds and influence peddling related to cryptocurrency initiatives. One such project, involving the proposed $Libra digital currency, raised serious questions about governance and raised concerns among investors.
The Brazilian recognition for Milei could lead to more than just bilateral meetings; his appearance at the award ceremony may serve as a political backdrop concerning regional relations, particularly against the backdrop of his contentious history with Brazilian President Luiz Lula da Silva. Previous interactions include Milei choosing to engage with conservative circles rather than attending Mercosur summits, highlighting the complex dynamics at play.
The President's management of Argentina's economy, fraught with challenges, may define both his legacy and the broader economic relationship between Brazil and Argentina as they navigate the new political and economic landscapes of South America.