Argentina's new president, Javier Milei, described a country coming apart at its economic seams when he took office on December 10. He called for painful measures needed to restore economic stability. "There's no money," he declared. "I'd rather tell you a painful truth than a comfortable lie." After his convincing electoral victory in October, Milei appears confident that he has a popular mandate to fix the economy no matter the cost. But can he?
Markets seem to think so, at least so far. Investors may be impressed by his vow to seek a fiscal consolidation of 5 percent of GDP—to be…
