Libertarian economist Javier Milei came to power with a bombastic promise to eliminate Argentina’s “corrupt” political class. Now he has turned to a lifelong member of that establishment to save his project.
Milei is approaching the six-month mark of his presidency without a single piece of legislation passed in Congress. In an attempt to change that, last week he fired his chief of staff, Nicolás Posse, an engineer with no political experience, and replaced him with Guillermo Francos, the interior minister.
Francos, a 74-year-old career politician, is widely seen as the polar opposite of the irascible president: calm, diplomatic and with friends across the political spectrum. He has emerged as the lead negotiator in Milei’s La Libertad Avanza (LLA), a crucial role given that the three-year-old coalition controls just 15 percent of seats in Congress and none of the 23 powerful provincial governments.
“The president chose me because he realizes he is having problems with Argentine politics – because he doesn’t understand it,” Francos said after his appointment.
Although Milei has reduced the government deficit using his executive powers, analysts, businesses and the IMF have warned that Argentina’s chronic economic crises cannot be resolved without building a political consensus and ensuring long-term legislative changes.
In an expanded role, dubbed “super minister” in the media, Francos will be the crucial link between the cabinet, congress and governors. His first task will be to eliminate obstacles in the Senate that have stalled two economic reform bills, which aim to reduce the deficit and encourage investment.
“Right now, Milei is in a difficult time,” said Eugenia Mitchelstein, associate professor at San Andrés University in Buenos Aires. “He needs a political godfather.”
Milei’s employees privately acknowledge that the daily political grind is of little interest to the president, who has prioritized trips abroad to mingle with technology leaders and speak at right-wing conferences.
His inner circle of advisers has little experience negotiating with opposition leaders. Posse, Milei’s friend from the private sector, was a remote figure who avoided politicians and the media. Karina Milei, her sister and chief of staff, is focused on the internal workings of the LLA. Santiago Caputo, Milei’s main strategist, is working to maintain the president’s popularity with voters ahead of the 2025 midterm elections.
“They realized that they have a serious political deficit and that they cannot reach the midterm elections without solving it,” said Marcelo García, director for the Americas at geopolitical risk firm Horizon Engage. “They need a dealmaker, someone who is comfortable in the scrum – that’s Francos.”
Born into a naval family in Buenos Aires in 1950, Francos attended a Catholic school where he learned literature from Jorge Mario Bergoglio – now Pope Francis. He was active in student politics while studying law and helped launch a center-right party following Argentina’s return to democracy in 1983. He eventually served on the capital’s municipal council and in congress.
But Francos also worked closely with conservative and moderate figures in the vast Peronist movement, which was pulled to the left under the influence of former president Cristina Fernández de Kirchner. Moderate Peronists have decisive votes in Congress.
In 2007, he led the public bank of the province of Buenos Aires under the government of Peronist governor Daniel Scioli. In 2019, Milei’s Peronist predecessor, Alberto Fernández, appointed Francos as Argentina’s representative at the Inter-American Development Bank in Washington.
Francos met Milei in 2012, when he was director of Corporación América, the conglomerate where Milei worked for years as an economist. They kept in close contact. According to Francos and former colleagues, he was one of the first people to recognize Milei’s political potential, despite their different styles.
In an interview with the Financial Times during last year’s campaign, Francos called himself “the other side of the Milei coin”. While Milei, a single academic with wild hair, is known for aggressive speeches against opponents, Francos, who has been married three times and has six children, has an easy charm and a calm temperament.
“Guillermo is an eternal optimist,” said a former colleague, who knows both men well. “If he and Javier have a disagreement with someone, Javier will probably storm out or say ‘talk’s over.’ But Guillermo doesn’t fill himself with negative energy, he says ‘OK, let’s try again’”.
As Minister of the Interior – a role that will now become a secretariat subordinate to Francos – he managed the Milei government’s tense relationship with the provinces. Many governors, who have influence over legislators, opposed Milei’s agenda, while the president reduced his funding.
An employee of a centrist opposition governor said Francos was “trustworthy” and “a very good listener.”
“The problem is he had a limited toolbox to actually help with his problems,” they added. “In theory, that should change now.”
As chief of staff, Francos is responsible for managing Milei’s ministers and can influence Economy Minister Luis Caputo – a once-estranged cousin of Milei’s strategist Santiago – to release funds to facilitate political negotiations.
But analysts say the scale of Francos’ power will depend on the dynamics between him, Caputo and Milei. The president signaled unwavering support for Caputo’s fiscal discipline, calling the former Wall Street trader a “rock star.”
The balance of power will be further complicated by Milei’s promotion of Federico Sturzenegger to a ministerial position, architect of the planned economic reforms.
In February, the government’s first attempt at legislation failed when the president abruptly withdrew his bill from the Chamber of Deputies, erasing months of negotiations led by Francos.
The stakes are higher now. As the government’s attempt to pass reforms dragged on, the recovery in Argentina’s sovereign bond prices faltered. Investors warn that a defeat would be serious for confidence in Milei’s program.
On Wednesday, Francos and his colleagues finally gathered enough support to call a vote on the bills for early June.
Mitchelstein said Milei will likely empower his new chief of staff to help him achieve his political goals — at least in the short term.
“As we get closer to next year’s midterm elections, or if the economy improves, Francos may become less relevant,” she said.
