Argentina's President Milei receives award in Germany amid protests

Argentinian President Javier Milei was awarded a medal by the Friedrich August von Hayek Foundation in the German port of Hamburg on Saturday.

Milei received the award from the think tank - named after the Austrian pioneer of neoliberalism - as hundreds of protesters demonstrated outside the venue against his invitation.

Around 200 supporters attended the ceremony, including notable right-wing German politicians such as Beatrix von Storch, a lawmaker from the far-right Alternative for Germany (AfD) party.

The crowd repeatedly chanted Milei's slogan "Libertad," Spanish for "Freedom."

Milei, who was elected with more than 55% of the vote in November's presidential elections, has been described as an anarcho-capitalist due to his radical views on cutting government spending.

In an acceptance speech, he described his intellectual development as a follower of the Austrian school of economics, whose leading lights include Hayek and Ludwig von Mises.

Milei attributed his rise to power to his convictions as the only Argentinian politician representing liberal economic ideas, aiming to tackle the country's longstanding issues such as soaring inflation, low industrial productivity and a bloated state apparatus.

In a positive sign, May saw the first decline in Argentina's annual inflation rates in months, but Milei's dramatic actions since taking office have led to waves of protests in Buenos Aires.

Stefan Kooths, chairman of the Hayek Foundation, praised Milei in a speech at the ceremony.

Milei is "bringing capitalism out of the defensive," Kooths said, comparing his policies to a chemotherapy treatment. "The side effects are intense," he said, while arguing the agenda is the only solution for Argentina's problems.

The Argentine president is scheduled to meet with German Chancellor Olaf Scholz in Berlin on Sunday, although a previously planned reception with military honours was cancelled.

On a previous stop in Madrid earlier this week, Milei was snubbed by officials after a bitter war of words with the Spanish government.

Milei is the latest recipient of the award from the Hayek Foundation, which critics say has failed to distance itself from right-wing extremists.

Previous winners include the Swiss radio station Kontrafunk and the Achse des Guten blog, both of which are seen as right-of-centre.