Posted 3/19/2024, 6:56:53 PM
Milei's Early Economic Wins Tested by Recession and Political Headwinds
- Milei inherited an economic mess in Argentina with high inflation, budget deficits, and debt
- He has achieved early success with fiscal surpluses, lower inflation, higher reserves
- But the economy is shrinking sharply and poverty is very high due to his austerity policies
- Milei lacks political support to pass reforms he needs through Congress
- His fate depends on how long Argentines tolerate economic pain before turning on him