Don’t Cry for Milei, Argentina

Apologies to Andrew Lloyd Webber and Tim Rice for twisting the title of the theme song for the musical Evita, but it was too good an opportunity to pass up given the current and prospective state of Argentina’s currency following the election of the maverick candidate Javier Milei as President last November. In this article, Francisco Mandiola of FMA Secure explains what is happening in South America’s second largest country and economy, and what it means for the currency.

One week after Argentine President Milei was voted in, several economic publications in the region made clear that he and his government had their initial work cut out for them. The nation’s poor made up over 40% of the country, about 10% were homeless and those employed could be certain that inflation and foreign exchange rates were not going to improve overnight.

Despite this, President Milei remained firm in his commitment to ‘shock’ the country onto a path of eventual economic stability, no matter how difficult.