WORLD

Milei delivered his “shock therapy” plan in the first few months of his presidency. Tens of thousands of state workers were cut as were more than half of government ministries, including the Ministry of Culture, as well as the Ministries of Labor, Social Development, Health, and Education (which Milei dubbed “the Ministry of Indoctrination”). Numerous government subsidies were eliminated, and the value of the peso was cut in half.

In 1970, Venezuelans were the wealthiest people in Latin America. With annual incomes comparable to those of the Finns and the Japanese, they earned two-and-a-half times what the typical Latin American earned. Their wealth bought them a longer life, lower infant mortality, and some measure of safety. Today, as the United Socialist Party’s Nicolás Maduro tries to steal another term as president, it is a different story.

Argentina needs a monetary regime whose survival depends as little as possible on domestic politics.

Brazil is facing its greatest struggle for freedom of speech since the end of the military regime that ran the country from 1964-85. For the first time since the adoption of the 1988 Constitution, freedom of speech has been effectively limited without due process, and contrary to the Constitution, the criminal code, and the Marco Civil.  

Argentine President Javier Milei has postponed the implementation of his much-anticipated dollarization plan. Some commentators, including Steve Forbes, have urged Milei to pick up the pace before it’s too late. Is it too late for Argentina to dollarize? One major...

The revelation that Argentina has done something the US government hasn’t done in more than two decades—run a budget surplus—seems like a newsworthy event. So why the silence?

Milei has not dollarized Argentina as promised. Instead, he has chosen a more gradual approach, implementing a series of fiscal and structural reforms that he believes will lay the groundwork for future dollarization.