Milei pitches Argentina’s ‘abundant energy’ to Europe at investment roadshow

European investors in Paris were greeted with applause as President Javier Milei of Argentina unveiled his country's "abundant energy" during his speech at the Organisation for Economic Co-operation and Development (OECD) headquarters. Milei, leading a delegation of ministers and provincial governors, emphasized Argentina's non-conflict zones, significant reserves of copper, lithium, and uranium, and the country's legal certainty for mining companies.

He also highlighted Argentina's competitive agricultural sector, which is not an "enemy" of European farmers, despite opposition to the Mercosur-European Union trade agreement. Milei defended three years of austerity policies and forecasted optimism for the upcoming year, stating, "We are very optimistic about what is coming next year... we play better than them and we are going to win."

He criticized his opponents' "economic shamanism" and praised key officials like Economy Minister Luis Caputo and Central Bank Governor Santiago Bausili. Milei reiterated his stance against spending increases ahead of the 2027 presidential election, calling for freedom and orthodoxy instead. He claimed that Argentina Week had generated investment announcements worth over $16 billion and expressed hope for a more fruitful event this year.

Since taking office in late 2023, Argentina has seen a significant decline in annual inflation, balanced public finances, and partial rebuilding of foreign-currency reserves. However, poverty has risen, affecting nearly one in three Argentines, and the economy contracted by 0.6 percent between April and June.