Argentina's President Milei held his own rock concert amid the country's economic collapse. VIDEO

The President of Argentina Javier Milei, who once promised to «cut government spending with a chainsaw» and eliminate inflation, is now forced to sing against the backdrop of an economic crisis. On Monday, the 54-year-old politician and former frontman of a Rolling Stones tribute rock band took to the stage at Movistar Arena in Buenos Aires, trying to lift the spirits of his supporters. This is reported by The Guardian. To the cheers of «Ole, Milei!», he performed nine songs in the style of the 1980s. However, offstage, scandals surrounding the president are piling up, discontent among the population is growing, and the peso is falling.

Initially, his shock economic therapy seemed impressive — inflation decreased, and Western politicians called Milei an «economic miracle». Donald Trump supported his slogan «Make Argentina Great Again», and British conservatives took him as an example. But the effect quickly faded.

Political Defeats of Javier Milei

The situation sharply deteriorated due to a number of scandals and political defeats:

• In August, protesters pelted Milei with stones over corruption allegations against his sister and head of administration Karina Milei;

• In September, the president's party suffered a crushing defeat in the elections in the province of Buenos Aires;

• A close associate of Milei, Jose Luis Expert, withdrew his candidacy after it was revealed that he received $200,000 from a drug dealer.

Journalist Sebastian Lacunza believes that the president is experiencing a crisis of trust. 

«Support is dwindling due to corruption suspicions and harsh cuts that have hit pensioners, hospitals, universities, and households hard,» he says.

Despite everything, Milei continues the show. His fans in the hall admitted that the country is «in terrible shape», but urged to wait until the end of the term. However, analysts do not share this optimism. 

What Experts Say About the Situation in Argentina

Political scientist Paola Zuban describes the current state of the president as «economic, political, and social default».

«He promised not only an economic revolution but also a moral one,— Zuban reminds. — But the scandals have destroyed that trust. Expectations have fallen, and now the government faces a crisis that will be hard to overcome.»

Analyst Facundo Nejamkis adds: 

«There is an ever-widening gap between the government's words and what people feel.— They talked about a miracle, but nobody sees it.»

The concert in Buenos Aires was supposed to restore Milei's popularity, but even his supporters admit that it was an extremely ill-advised decision in a country where prices are rising and trust is eroding every day.