THE administration of new far-right Argentinian President Javier Milei said on Tuesday that his government would not renew the contracts of more than 5,000 employees hired this year before he took office.

The move is part of a sweeping programme of cutbacks and devaluations announced by the libertarian extremist since he took office on December 10. He has vowed to transform Argentina’s struggling economy, which has inflation running at around 160 per cent.

The contracts of other government employees, those taken on before 2023, will be reviewed, authorities said.