Milei also intervened and questioned Cavallo's economic record with strong criticism.
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The Minister of Economy, Luis “Toto” Caputo, came out this Tuesday at the crossroads of the aging Domingo Cavallo after the former official questioned his economic program and accused him of acting as a “trader” without a clear theory. The response of the head of the Palace of Finance exposed the differences between the current economic direction of the Government of Javier Milei and the prescriptions that marked critical stages in Argentine history
.
The controversy began after an interview with Cavallo on Maximiliano Montenegro's show, where he argued that Caputo would not have a definite economic theory and that he would focus his strategy “on the one hand” and then change if he doesn't get results. The phrase was replicated by the Ahora Play account and quickly generated reactions within the
ruling party.
Caputo didn't let go of the comment and replied from his X account with a message addressed personally to the former minister. “Dear Mingo, if there is resentment, try not to let it be noticed,” the official began, before recalling that Cavallo ended up imposing “a playpen” and creating “the sinister tax on the paycheck”
.
The minister also pointed out one of the most profound consequences of that stage: the loss of trust of Argentines in the financial system and in the rules of the game. According to Caputo, Cavallo made “a cult of violating private property”, generating a distrust that the current Government is still
seeking to reverse. The minister crossed paths with Domingo Cavallo on his X account (former Twitter)
The response also had a strong political tone. Caputo said that, out of respect, he preferred not to tell “the nonsense” that Cavallo would have suggested to him during the first two months of his administration. He then accused him of making mistakes not because of forecast failures, but because of “forecast HORRORS”, in a phrase that quickly
went viral.
Closing the message was the hardest blow: “Rest assured that we are going to continue fixing the country. Hopefully you can make it bring you joy, rather than pain. Regards”. The phrase summarized the Government's position in the face of criticism from sectors that, having been protagonists of past crises, today seek to present themselves as evaluators of
the libertarian economic program.
President Javier Milei also intervened in the discussion and supported the questioning of Cavallo. In response to Felipe Núñez, the president recalled that the former minister's model included mass expropriations, he mentioned the Bonex Plan, the loans guaranteed in AFJP, the 2001 playpen, the increase in VAT, the paycheck tax and the nationalization of private debt.
President Javier Milei's contribution to the discussion.
Felipe Núñez had also questioned Cavallo, pointing out that his theory indicated that inflation could not fall first by 20%, then by 8% and then by 4%. “That's where it would be good for you to change your model, because the Minister's model seems to come much more straight than yours,”
he wrote.
While the Government defends fiscal balance, the accumulation of reserves and the reduction of inflation as the axes of its program, Cavallo, in a detractor way, was once again associated with a period marked by confiscations, distortive taxes and a deep rupture of public trust. Caputo chose not to avoid the fight and the officials decided to demonstrate their knowledge
