'Milei's Achilles' Heel' - WSJ

sergio

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Today's column by Anastasia O'Grady is about Milei and what the writer thinks is his need to dollarise. An extract:
"Now he's left with only untenable fiscal cuts and his use of inflation to reduce the dollar value of Argentine debt, both of which threaten to induce many months of pain and scare away investors...None of this is good for the visionary president, who needs to break the stranglehold of special interests in a dysfunctional legislature and needs popular support to do it. If he doesn't change course, he could easily turn out to be one more mediocre Argentine president - or worse. Mr Milei's government needs stable money, and fast."in
 
This: https://www.wsj.com/articles/javier...u8k11z62noj55uq&reflink=article_copyURL_share

In 2016 O’grady dedicated newsprint to discuss past military personnel who she believed were wrongly on trial. She is an Opinion writer, not a journalist.

‘Burma, North Korea, Cuba? No, this is “democratic” Argentina. The prisoners are former members of the military. Their problem: They defeated the left-wing guerrillas of the 1970s and early 1980s. The guerrillas never got over their loss and are now getting revenge via Argentina’s courts, which deny the former soldiers their civil liberties.’

 
This: https://www.wsj.com/articles/javier...u8k11z62noj55uq&reflink=article_copyURL_share

In 2016 O’grady dedicated newsprint to discuss past military personnel who she believed were wrongly on trial. She is an Opinion writer, not a journalist.

‘Burma, North Korea, Cuba? No, this is “democratic” Argentina. The prisoners are former members of the military. Their problem: They defeated the left-wing guerrillas of the 1970s and early 1980s. The guerrillas never got over their loss and are now getting revenge via Argentina’s courts, which deny the former soldiers their civil liberties.’

It's an opinion piece appropriately published on the op-ed page of the WSJ. Readers can agree or disagree with the writer's opinion of how the current Argentina president is handling the ecomomy. THAT Is the topic of this thread. Let's hear some reader views on the ECONOMIC issues Ms O'Grady discusses.
 
I can't read the article because it is behind a paywall but the quote "Now he's left with only untenable fiscal cuts and his use of inflation to reduce the dollar value of Argentine debt".

Isn't most of Argentine debt, dollar denominated? I assume the truckload of IMF debt is dollar denominated. If most of Argentine debt is dollar denominated then using inflation to reduce the debt load flat-out would NOT work. Does anyone have statistics on what percentage of Argentine debt is peso vs dollar denominated? (A cursory check on the web yielded no results on this question for me.)
 
It's an opinion piece appropriately published on the op-ed page of the WSJ. Readers can agree or disagree with the writer's opinion of how the current Argentina president is handling the ecomomy. THAT Is the topic of this thread. Let's hear some reader views on the ECONOMIC issues Ms O'Grady discusses.
Well said Sergio. I find her opinion piece about the military personnel being wrongly on trial in Argentina questionable at best, but that does not mean she is also automatically wrong with her latest op-ed. Otherwise that would be an ad-hominem fallacy.
 
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