A promise of record growth
On his last day in New York, President Javier Milei spoke before an audience of senior US executives and predicted that if his government is re-elected in 2027, 2028 will be Argentina's best economic year in history. He said the improvement would not be limited to financial indicators but would also reach the real economy, with faster investment in sectors such as Vaca Muerta, mining and energy. He also said Argentina is growing at a rapid pace and has recorded 27 consecutive months of growth spread across all sectors of the economy.[S1][S2]
The event took place at The Economic Club of New York, a private, non-profit, non-partisan membership institution founded in 1907 that brings together senior executives from finance, business, technology, law and other fields, as well as government, academic and media figures. Milei spoke for about 20 minutes and then took questions from Bloomberg's global editor, John Micklethwait. He was accompanied by Foreign Minister Pablo Quirno, Argentina's ambassador in Washington, Alec Oxenford, and the US ambassador in Buenos Aires, Peter Lamelas.[S1][S2]
Reserves and political risk
In an electoral key, Milei sought to calm markets about possible turbulence around the elections. He said there would be certain stability next year and explained that his government has built a reserve buffer equivalent to US$75 billion. He broke down the figure: US$20 billion purchased by the Central Bank since the start of his term and after the elections, US$15 billion for the futures position, US$20 billion from the swap with the United States, and US$20 billion from the swap with China, to which he said the trade balance and capital flows expected next year should be added.[S1][S2]
Milei said his government is armed to the teeth to face what he calls political risk, which he referred to as the kuka risk. He predicted that next year his administration will become the first non-Peronist government to win re-election since Argentina's return to democracy, and he said that if they manage to cross the Rubicon, the country will take off definitively. He closed by inviting investors to take part in what he described as the greatness awaiting Argentina, saying the reason and the moment to bet on the country is now.[S1][S2]
Netanyahu meeting and Malvinas dispute
After the conference, Milei was scheduled to hold a bilateral meeting with Israeli Prime Minister Benjamin Netanyahu at 17:00 Argentine time. Israel, along with the United States, is a main partner of the libertarian government, and Milei has described Netanyahu as an ally and friend. In an interview with TN on Wednesday, Milei said both Trump and Netanyahu are far above the average of normal individuals and even within the concert of nations, and he suggested that without Netanyahu's leadership Israel might not still exist today.[S1]
Although Foreign Minister Pablo Quirno told Argentine press on Wednesday night that there was no planned agenda of topics, it is expected that the controversy over Argentina's sanctions and legal actions against Navitas Petroleum may arise. The Israeli oil company participates in the Sea Lion project in the Malvinas without Argentine permission. Netanyahu has not taken a position on the matter, but his son Yair, who holds no office in the Israeli government, has publicly supported Argentina's claim, writing on X that the Malvinas belong to Argentina and that Israel should back Buenos Aires, partly because of the close relationship between Milei's government and Israel. The leaders may also discuss the situation in the Middle East, complicated by the war with Iran, and bilateral cooperation in technology, trade and security.[S1]
