Argentina's President Milei to receive award in Germany amid protests

Argentina's President Javier Milei is planning a visit to the German port of Hamburg on Saturday where he will receive a medal but is also likely to hear loud protests against his ultra-liberal economic policies.

The Friedrich August von Hayek Foundation, a think tank named after the Austrian pioneer of neoliberalism, plans to award him a medal.

Stefan Kooths, chairman of the liberal economists' association and economics professor, praised Milei, who won a convincing majority in November last year.

Milei's liberal economic and socio-political agenda aims to tackle Argentina's longstanding issues such as corruption, a state-dominated economy, soaring debt, and currency instability.

Argentina, South America's second-largest economy, is currently in recession with challenges including a bloated state apparatus, low industrial productivity, and a sizable shadow economy undermining tax revenues.

Milei advocates for radical austerity measures to revitalize the country. In a positive sign, May saw the first decline in annual inflation rates since mid-last year.

Meanwhile, left-wing groups are planning protests, including a demonstration dubbed "No prize for the extreme right - No medal for Milei" near the Hamburg venue on Saturday, shortly before he is to receive to award.

Milei has been snubbed by officials on the Spanish leg of his visit, amid a bitter war of words with the left-wing government in Madrid.

On Sunday, German Chancellor Olaf Scholz is scheduled to meet Milei in Berlin, although a previously planned military honours reception was cancelled.