Argentine President Javier Milei is navigating a high-stakes political landscape as he doubles down on his Javier Milei economic measures while facing mounting pressure from judicial investigations and declining public approval. The administration is currently balancing a rigorous deregulation agenda with a growing legal scandal involving its top leadership, testing the resilience of the “chainsaw” approach to governance.
At the center of the current political storm is Manuel Adorni, the Chief of Cabinet, who has become the focus of a judicial investigation regarding alleged illicit enrichment. Despite the legal scrutiny, President Milei has maintained absolute confidence in his appointee, publicly defending Adorni’s role in the administration’s operational success and reinforcing his position within the government’s inner circle.
This internal stability is being pursued against a backdrop of severe economic volatility. While the government continues to push for the eventual closure of the Central Bank and the implementation of dollarization, technical hurdles and the necessity of strict monetary tightening have delayed these definitive shifts. The administration remains committed to a path of drastic spending cuts and structural reforms to curb inflation and stabilize the national currency.
Presidential Support Amid the Adorni Judicial Case
The relationship between President Milei and Manuel Adorni has remained steadfast even as the Chief of Cabinet faces a judicial cause for presunto enriquecimiento ilícito (presumed illicit enrichment). In an interview on the program Economistas de la TV Pública on April 9, 2026, Milei described Adorni as a “marvellous Chief of Cabinet,” emphasizing his vital role in managing the “kitchen” of the government—the detailed coordination between various ministries Infobae.
Milei has clarified the division of labor within his executive branch, stating that while he sets the “north and the direction” of policy, Adorni is tasked with the execution and management of the cabinet. To further solidify this support during a turbulent period, the President has instructed his ministers to centralize their management demands through Adorni, effectively reaffirming his authority despite the ongoing legal investigations Infobae.
The “Motosierra” and the Deregulation Agenda
The core of the Javier Milei economic measures remains the “motosierra” (chainsaw) policy, which focuses on aggressive spending cuts and the removal of state interventions. A key figure in this effort is Federico Sturzenegger, who has been leading a massive deregulation drive. According to reports from early April 2026, Sturzenegger informed the President that the administration has already surpassed 15,000 reforms aimed at stripping away bureaucratic layers and state control Infobae.
Parallel to these reforms, the administration is maintaining a strict monetary stance. Milei has emphasized that the Central Bank must continue to tighten monetary policy to combat inflation, warning his officials that the government will not “cede to those who take the street” in protest of these austerity measures. This commitment to monetary discipline is viewed by the administration as a prerequisite for any future structural change to the currency system Infobae.
The Path and Obstacles to Dollarization
Despite his long-standing campaign promise to dollarize the Argentine economy, President Milei has provided a “crude explanation” as to why this transition has not yet occurred. The President acknowledged that You’ll see specific technical factors that currently prevent the definitive closure of the Central Bank and the full implementation of dollarization Ciudadano News.
The delay is largely attributed to the need for the Central Bank to first stabilize the monetary environment. The administration’s current strategy involves a phased approach: maintaining the “chainsaw” on spending, continuing the deregulation process led by Sturzenegger, and ensuring the Central Bank’s policies are sufficiently restrictive before the currency can be replaced. This indicates that while dollarization remains the ultimate goal, it is contingent upon meeting specific technical and economic benchmarks that have not yet been fully satisfied Ciudadano News.
Public Perception and the “Ceiling of Rejection”
The political cost of these austerity measures and the surrounding scandals is reflected in recent polling data. A report by Giacobbe & Asociados reveals a challenging landscape for the current administration, with Javier Milei facing a significant level of public wear and tear. The poll indicates that Milei’s image is currently 55.6% negative, compared to 36.1% positive and 6.8% regular Perfil.
This trend of high negativity extends across the broader political spectrum in Argentina, suggesting a general climate of disillusionment. Other key figures show similar levels of rejection: Minister Patricia Bullrich holds a 51.9% negative image, and Mauricio Macri mirrors Milei’s 55.6% negative rating Perfil. Even opposition figures are not immune, with Governor Axel Kicillof at 55.2% negative and Cristina Fernández de Kirchner reaching 60.1% negative Perfil.
Key Political and Economic Indicators
| Metric/Area | Status/Detail | Key Driver |
|---|---|---|
| Presidential Approval | 55.6% Negative / 36.1% Positive | Economic austerity and corruption scandals |
| Deregulation | 15,000+ reforms implemented | Led by Federico Sturzenegger |
| Currency Policy | Dollarization pending | Technical constraints at Central Bank |
| Cabinet Stability | Strong support for Manuel Adorni | Presidential confidence despite judicial case |
The administration now faces a critical juncture where the success of its macroeconomic stabilization must translate into improved public perception. The “ceiling of rejection” identified by Giacobbe & Asociados suggests that the government is struggling to expand its consensus beyond its core base of support Perfil.
As the government continues to execute its deregulation plan and manage the legal challenges facing Manuel Adorni, the global community remains focused on whether these drastic measures can successfully reset the Argentine economy without triggering further social or political instability.
The next confirmed checkpoint for the administration will be the continued monitoring of monetary policy tightening by the Central Bank and the progress of the judicial proceedings regarding the Chief of Cabinet’s assets.
What are your thoughts on the viability of the “chainsaw” approach in the face of high public rejection? Share your views in the comments below or share this report to join the conversation.