by Valen Iricibar and Estefanía Pozzo

Earlier this week, President Javier Milei met with leaders of the Order of Brazilian Economists (OEB by its Portuguese initials) in the Casa Rosada and handed a letter naming him “Economist of the Year” signed by its president, Manuel Enríquez García. But licensed economists in Brazil condemned the award, citing the Libragate cryptocurrency scandal rocking Milei’s government and the fact that Enríquez’s registration is currently suspended 

“The Argentine president is facing an economic scandal in his own country, being accused of participating in an illicit association that caused damage to more than 40,000 people,” read a communiqué by Brazil’s Federal Economy Council (COFECON) published on Thursday. “The accusation arose after he promoted the $LIBRA cryptocurrency on his social networks on February 14, which was later revealed to be a ‘rug pull’ fraud.”

The COFECON communiqué also highlighted that the OEB is a private institution and its leader, Enríquez, is not qualified to hand out prizes in the name of the country’s economists.

“[Enríquez] had been registered for more than 30 years with the São Paulo State Council and was disqualified for five years from holding public office in Brazil after being convicted by the Federal Court of Auditors for misuse of public resources,” said João Manoel Gonçalves Barbosa, vice president of COFECON. “The professional registry ban legally bars him from practising the profession in Brazil for approximately two years.”

Gonçalves Barbosa also pointed out that the OEB is a private entity and that the only establishments that can speak on behalf of Brazilian economists are regional or federal councils. 

“COFECON does not recognize the OEB’s judicial, institutional or political legitimacy to represent Brazilian economists,” Gonçalves Barbosa told the Herald. 

The COFECON statement also pointed out that Milei’s economic practice takes place outside of Brazil, disqualifying him from receiving a prize “to reward economists who have distinguished themselves in their professional activity or in work for the benefit of the country, the community or economists.”

The Presidential Office has yet to comment on the council’s condemnation of Milei receiving the accolade, for which he was due to receive a trophy in August.

You may also be interested in: $LIBRA: the timeline of a crypto scandal that’s rocking the Milei government