Argentina

A radically different scenario, in which Mile emerges triumphant, can also not be ruled out at this stage. What would success for Milei look like? A key initial component would be an initial stabilisation of the economy. The first converts to ‘Mileiconomics’ would be the financial markets, investors, and the business community. To some extent short term indicators are already generating localised optimism – but within a fairly narrow demographic segment. As we have seen the monthly inflation rate is beginning to come down and may hit single figures during the second quarter of 2024 or even earlier. The fiscal deficit has been eliminated, foreign currency reserves are growing, and the gap between the official and free market exchange rates has narrowed, showing increased confidence.