![Javier Milei and Argentina’s Reform Trial](https://i0.wp.com/contentedreader.com/wp-content/uploads/2024/01/1704331655_social.jpeg?resize=768%2C432&ssl=1)
Can a basket-case economy escape from a 25-year socialist decline? That’s the drama now unfolding in Argentina, where new President Javier Milei is pushing a big-bang economic reform to make the once-rich nation prosperous again. The political question is whether his reforms can take hold before the public loses confidence in his efforts.
Mr. Milei won a mandate for his agenda with 56% of the vote in November, but his reward is to inherit a bankrupt country. The economy is in recession and more than 40% of Argentines live below the poverty line. Government debt is 85% of GDP and the country owes the International Monetary Fund some $46 billion, making it the fund’s largest debtor.
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