Argentina’s President Milei divided his nation but won over Trump


As to the question of whether Milei has succeeded, the answer largely depends how you define success – and who it is for.

Many workers see shuttered factories, rocketing bills, and a vanishing safety net.

Meanwhile, some investors see a success story of fiscal discipline, tamed inflation, an ally in Washington and simply a “normalisation”.

But even as leaders abroad watch Milei’s experiment with fascination, politics may explain why few are unlikely to copy it.

If normal people lose faith in what he is doing, markets will also lose confidence that his programme is sustainable – and that could wipe out even the ‘macro’ successes.

“He has no political expertise, and I think you need it,” Prof Rapetti argues.

Still, he believes it is too early to judge: “We are in the middle of his term… The story hasn’t finished.”

Top picture credit: WPA Pool/Getty Images, Bloomberg via Getty Images


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