Argentina's Markets Soar then Slip as Milei Faces Economic Tests
• Argentina's markets soared after President Milei took office, but are now slipping as bond prices fall, the peso weakens, and investors grow wary
• Milei faces challenges like high inflation, rebuilding reserves, securing IMF funding, and lacking Congressional support for reforms
• A key import bond failed to attract buyers and the gap between official and parallel exchange rates is widening again
• Inflation is still dangerously high, expected to top 200% in 2022, with 2/5ths of people in poverty
• Milei's success or failure at passing reforms will determine if Argentina moves closer to hyperinflation or away from crisis