Nearly three years after Javier Milei became Argentina’s president, the chainsaw-wielding free-marketeer has established himself as the darling of the far right. Even in the run-up to Brazil’s Sunday election, right-wing presidential candidate Flavio Bolsonaro campaigned on an economic policy that followed Milei’s lead, and U.S. President Donald Trump calls Milei his “favorite president.”

Last year, Trump extended Argentina an unprecedented $20 billion currency swap line to halt its currency’s free fall on the eve of legislative elections and the gambit worked. Milei’s party won a surprising victory.