Can Milei defuse Argentina's economic time bomb?
Argentina's libertarian president, Javier Milei, a political outsider who won election last year brandishing a chainsaw as a blunt symbol of his plans to cut spending, is defying long odds to right the embattled economy and keeping a lid on voter anger.
After years of economic crises, debt defaults, soaring inflation and currency crashes, Milei's success is giving an adrenaline shot to long-moribund local bonds and sparking a wild rally in the markets some 11 months into his administration.
The wild-haired economist, a poster child for the global far right and neoliberalism, has scored key economic wins in recent months, helping pull the country's debt out of distressed territory for the first time in half a decade.
His government, packed with more moderate conservatives, has tamped down triple-digit inflation, rebuilt central bank reserves, strengthened a beleaguered peso currency, overturned a deep fiscal deficit, and lured dollars back to the banks.
And while a tough cost-cutting austerity drive has pushed up poverty and hurt economic growth, Milei's theatrical and straight-talking style — while not for everyone — has kept many voters on his side and propped up his ratings in opinion polls.
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