Argentina’s second round of presidential elections produced a surprising—and substantial—victory for the right-wing populist Javier Milei. But the libertarian economist, who has promised a radical shakeup of the Argentine economy, has a grim task ahead. Ordinary life is increasingly painful. With year-on-year inflation exceeding 124 percent this September and more than 40 percent of the population living in poverty, the economic and social challenges that the next president will have to face are stronger than ever.
When President Alberto Fernández took office, Argentina was already in a long-term crisis, with inflation running at 55 percent year-on-year and a third of the population living in poverty. The current government sparked an even bigger crisis. A multitude of economic problems, from the need to refinance the public debt to the high domestic deficit caused,…
