Menemism

Menemism is a term that refers to the policies implemented in Argentina by Carlos Menem, president of the country from 1989 to 1999. Like Peronism (the movement Menem belonged to), Menemism is complex, being most usually defined as populist rhetoric combined with neoliberal policies.
Menemism came to power from the Popular Unity Justicialista Front. He is remembered for the electoral platform with which he won the elections; the measures included a "salariazo" and "productive revolution." He won the elections with other sectors of Peronism or center-left radicalism.
Menemism returned to power with a resoundingly high vote rate, having already modified the national constitution, with the Co-participation, so that the government mandates would last 4 years, making it possible for Carlos Saúl Menen to be re-elected. The recurring problems of this economic model determined an economic recession since 1998, which would end up exploding in the 2001 crisis.
Menemism constituted a political-cultural period around the practice of an excessive consensus of the neoliberal ideology, with policies such as convertibility, the privatization of companies, economic liberation, where the economy was deregulated, reducing quotas, tariffs and import prohibitions. Ideology that was contradicted mainly by the national-popular sectors of Peronism that branded Menem as a "traitor". In order to contradict these sectors, an attempt was made to relate, in this sense, the trace of a certain turn of Peronism in public policies during 1952 to open up to foreign capital, with the liberal policies that the Menemist government was carrying out. In order to show some continuity and relationship with the Peronist movement.
Menemism was qualified in various ways around its position in the political spectrum, the most common is the center-right or the right-wing.
Menemism is considered conservative by most sectors, although in their governments there were not too many cultural or social policies where we can see it clearly represented.
Menem quickly adhered to the policies of economist John Williamson, who proposed a set of ten specific formulas for developing countries affected by macroeconomic crises, such as a package of tax, trade and labor reforms to stabilize prices, attract foreign investment ; reduce the size of the state, and encourage the expansion of internal market forces. Greater opening of the economy. It implied the entry of financial and productive capital and the entry of goods that compete with national products. This measure once again caused the closure of factories and workshops.
By law, the national currency was set at parity with the US dollar. As a consequence, the cost of national production increased and businessmen could not compete with imports. Therefore, production fell and unemployment rose.
Based on Law No. 23,696, better known as the State Reform Law, Menemism in his government implemented a series of massive privatizations of state-owned companies in order to generate a more liberal economy. Menem put the following state companies up for sale: YPF, YCF, Gas del Estado, the National Telecommunications Company, Aerolíneas Argentinas, the Port, the national retirement and pension system, among others. Which translated into strategic relations with the United States and Great Britain, being applauded by conservative leaders of the moment such as Ronald Reagan and Margaret Thatcher.
The decrease in public spending under Menemism was one of the conditions imposed by the International Monetary Fund (IMF) to grant credit to the country and sustain the convertibility regime. Public spending went from representing 35.6% of GDP in 1989 to only 18.3% in 1992. This reduction was achieved mainly through the privatization or concession of public companies and services. The decrease in public spending also affected areas sensitive areas such as education, health, defense and security. The budget allocated to these areas was reduced or transferred to the provinces, which had to take charge of financing them with their own resources or with debt. The consequence was a deterioration in the quality and coverage of these services, as well as a loss of public jobs and social rights. Its objective was to achieve a fiscal balance and avoid the monetary issue that generated inflation. However, it also had negative effects on the productive development, employment, income distribution and well-being of the population.
Menem's economy ministers were prominent academics and privileged relations with the United States. However, there were differences between the management of Cavallo and that of Di Tella. While Cavallo tried to maintain differences without diplomatic pressure from the United States, Di Tella did not hesitate to adopt a policy of exclusive attention to that country, called "carnal relations." In 1996 changes were observed in this strategy that could mean the abandonment of this policy.
Currently there are various politicians who are usually considered by the political scene as menemistas or vindicators of it. As Mauricio Macri, Javier Milei, Miguel Ángel Pichetto or Patricia Bullrich.
Some parties that are considered menemists are, for example, Encuentro Republicano Federal.