Milei Pursues Shock Therapy for Argentina's Economy, Seeing Some Early Gains But Facing Hurdles

Argentinian President Javier Milei is implementing "shock" economic policies including slashing agencies, devaluing currency, and temporary tax hikes to fix the struggling economy.

Milei aims to reduce government spending, boost exports, close trade deficits, and balance the budget to regain market confidence.

Early results show slowed inflation, a budget surplus, rising deposits, and bond/risk improvements signaling optimism.

However, high inflation and poverty persist and Congressional opposition blocks some reforms Milei seeks.

Milei vows to push reforms with or without Congress, seeking a 10-point economic pact with lawmakers by May.