How Milei’s Radical Reforms Turned Argentina’s Economy Around

On his first anniversary as president of Argentina, Javier Milei announced the initial results of his relentless campaign to cut government spending, eliminate regulations, and pare back the country’s administrative state. “Today, with pride and hope, I can tell you that we have passed the test of fire,” Milei told Argentinians last week. “We are leaving the desert, the recession is over, and the country has finally begun to grow.” When Milei took office in November 2023, Argentina, once one of the world’s 10 richest countries, was in a dysfunctional state. Having defaulted on its sovereign debt three times since 2001, it was on track to do it again....