IEA Director of Public Policy and Communications Matthew Lesh has written in The Daily Telegraph discussing the positive signs that have emerged in the early days of Javier Milei’s presidency in Argentina.

Matthew wrote:

“Milei, who could struggle to get much of his agenda through Argentina’s Congress, is asking for sweeping emergency presidential powers until the end of 2025. This raises serious questions about democratic accountability.

“Nevertheless, there are some positive early signs. Since Milei’s election Argentina’s flagship stock index has risen by almost one-third and the peso’s value has not collapsed. Argentina could soon benefit from a major new shale pipeline pumping one million barrels of crude a day (helped along by reforms that allow exports of oil and sales at market prices) and the mining of the second largest proven lithium reserves in the world.

“Argentina has long served as a solemn reminder that prosperity is neither inevitable nor unassailable. Misguided policies can transform mere challenges into a profound crisis. Milei is offering a glimmer of hope: redemption may just be possible. Let’s also hope that Britain’s leaders can similarly take the path of reform, ideally before things get as bad as Argentina.”

Read Matthew’s full piece here.

You can also watch Matthew’s discussion with Chilean author and political scientist about whether Milei’s presidency can save Argentina here.