Argentina has been in a state of economic decline for many years, writes Rosana Escobar, but with the election of a new President this month, she believes there is hope for the future.

President milei

Source: JHG / Alamy Stock Photo

In this Christmas season, we know that the world is not equal. While we in the UK live in peace, able to celebrate with family and friends, others are fighting for survival, their countries at war. I am an Argentinian living in London and although my country of birth is not at war, it has experienced economic hardship for many years. But I believe God has a plan and a purpose for the nation of Argentina, and as we move in 2024, I am praying that the election of a new president a few weeks ago will be a blessing for the nation.

I became a Christian in 1978 during the Argentine World cup, I then felt called to serve as a missionary with Youth With a Mission (YWAM). In 2002 my husband and I moved to England with a deep desire to see and participate in revival in Europe. So from a distance I have been following with hope the new election of Argentina’s President, Javier Gerardo Milei earlier this month. My prayer is that if the government of Milei is a success, it will be a very positive influence for the rest of Latin America. 

Argentina is a country full of natural resources. Centuries ago it was a very important and rich nation, but after WWII the economy went in decline, and poverty increased with political corruption. During the Cold War in the 1970s the influence of communism also didn’t help.

I believe that this new government of Javier Milei is an opportunity to change many of the factors which have deteriorated our economy and created a culture of corruption. 

My prayer is that if the government of Milei is a success, it will be a very positive influence for the rest of Latin America. 

Javier Gerardo Milei is a libertarian liberal economist. He was a senior economist at HSBC, Argentina, a member of the B20, advisor to the G20 and an author of many books, as well as over fifty academic papers.

He was a deputy since 2021 for the new political party “La Libertad Avanza” (“The Freedom Advance”), defeating a very corrupt previous government, led by the former dictatorial president, Alberto Fernandez.

Mr Milei is known for his distinctive personal style and strong media presence.  He has been described politically as right-wing and populist. He defends the ideas of liberty. He defines the libertarian liberalism as the unrestricted respect for the lives of others, rooted in the principle of non-aggression and the defence of life, liberty, and property. With his honesty he has conquered the hearts of the Argentinians and his innovative political and economic ideas have drawn the attention of young people, who were his best supporters. 

Is he a man of faith? He is a Catholic but in the last years he has shown a desire to go deeper in the reading of the “Tora”, mentioning its principles to lead a nation. His spiritual support and adviser is Rabbi Shimon Axel Wahnish, chief of the Jewish Sephardi Moroccan Community in Argentina.

Is he a man of faith? He is a catholic but in the last years he has shown a desire to go deeper in the reading of the “Tora”, mentioning its principles to lead a nation. 

He supports Ukraine in response to Russia’s invasion and Israel in respond to the Hamas invasion. He has a very close relationship with his sister, who was the best supporter managing in his campaign. Milei is facing a country in deep structural and economic crisis, with 150% inflation per year, which is only increasing, high tax deficit, no bank reserves in the National Bank and a large debt, left by the previous government.

At this moment Argentina faces two big problems: inflation and the insecurity.  Milei together with the minister of finance and the minister of security are implementing radical decisions to bring a solution to these problems, and people in general are supporting him.

As part of his political decision, he has decided to slash public spending by 15% of GDP, eliminate most taxes and swap the country’s currency for the US dollar. He has chosen to blow up the central bank, eliminate some public services, give independency to justice, declare a free market, bring back order according to the Constitution and law; reinforce the security and help the most vulnerable people.

Our president will need a lot of wisdom to discern the best way ahead and the courage to go against those who have benefited from the previous political system. They will try to destroy him, and he needs patience to persevere through the internal and international opposition.

In my opinion the ideas and primary decisions that President Milei is implementing in my country, give me a lot of hope for a better future. Not just for economic transformation, but because they will be a foundation for a cultural transformation where deceit and corruption can be exchanged for truth and justice.

So how can we pray for Argentina in this time of transition?

  1. For all corruption to come to the light and become evident.

  2. For wisdom, courage and strength for the president.

  3. That there will be support in Senators Chamber to the new plans of the president.

  4. For international support for the president.

  5. That new Christian deputes will be put in power.

  6. For good control of public order and security.