, Columnist
Milei’s Big Problem Is Beyond US Treasury’s Help
The US pledge to help stabilize Argentina’s economy gives its combative president a lifeline — but only if he uses it wisely.
“Someday...I”ll call upon you to do a service for me.”
Photographer: Joe Raedle/Getty Images North AmericaThe great Rudiger Dornbusch once brilliantly captured the erratic nature of economic trends: “In economics, things take longer to happen than you think they will, and then they happen faster than you thought they could.”
The MIT economist, who died in 2002, surely wasn’t thinking of Javier Milei. But he knew Argentina well enough to understand the risks of a currency crisis in a country with chronic inflation problems.