, Columnist
The US Gives Argentina’s Milei Dollars and Hopes for Votes
A friend in need is a friend indeed.
Photographer: Michael Nagle/Bloomberg via Getty Images
My earliest economic memory as a kid growing up in Argentina is of the government knocking zeroes off its currency after successive devaluations rendered the bills worthless.
That was in the mid-1980s. Since then, I thought that I had seen it all — hyperinflation, dollar convertibility, savings confiscations, four debt defaults, countless restructuring and IMF plans, capital controls, doctored statistics, clean floats, dirty floats, bands, crawling pegs, multiple exchange rates. The story of the Argentine economy over the past decades has been chaos piled upon chaos.