He has to be careful playing their game, but they are offering desperately needed capital for a government that's printing like crazy.

I agree. There was no quick and easy fix for the problem he took on.

Didn't know Milei had transitioned. Big if true.

It's a big hole to dig out of.

It's hard to keep track of all the nuance from the outside. Did internal prices in Argentina not undergo a similar change? If not, then it was just a nominal devaluation.

I recall reading about Argentina's strict capital controls to make sure people weren't swapping their pesos for dollars.

I can't believe a self-called economist lists that as an observation. Things like this are the reason I spend no time seeing what this so-called experts have to say.

So... just for you... here we go...

First, talking about yearly inflation in September to evaluate the current government is self-deceitful to say the least. Milei got into office on December, so they are judging him using inflation from the previous government. No words.

The fact that, respect to the same date from last year, inflation has been of 237% (or whatever, it doesn't matter) says absolutely nothing about the current course of the economy. The current monthly inflation rate and the current rate tendency is what really tells what's going on. The fact we inherited 237% of inflation from the previous government doesn't mean that's what it still is or will continue to be.

Current monthly inflation is below 3% and keeps getting lower by the month:

So no. Price inflation do not remains high.

I will lose IQ from reading this. First, jump was from 375 to 844, the rest of the augmentation up until today followed the same rate as in the previous government (see the graph here). Second, there was no devaluation, of course. That jump in price was a first attempt to officially recognize the equivalence the peso haves with the dollar in the real market AND the equivalence the previous government got to "hide officially", for you could buy dollars at 375 but you had to pay 155% more in taxes in the process, so the real price was 375x2,55 . That distortion which was already in place was an "officially implicit" devaluation which the current government proceeded to decrease by taking most of the burden of the taxes and rising the official price. That still is less than the real value in the market, which is 1200 aprox, which the current govt aims to reach to proceed to dollarize, to end the madness once and for all.

Another thing I'm almost offended about is that the article, dated today, uses data from the first three months of the year only. And again, it takes the instant picture as an authoritative indicator of all of what has happened and is to happen. Money supply has stopped already, and the printer has been shut down. The projections mentioned where made at the time not based only in the immediate situation but on the actions that where planned and already took place.

80 years, to be exact, when the downward socialistic delirium started.

This is imprecise. Current generations have been already in hyperinflation, which is not what happened now but we were close. Milei's promise was not to stop this inflation, but to stop the eternal inflation, which has been pervasive. Only in my life-span prices have risen by more than x1000 since I was born, and the first x100 happened even before the last socialistic government. So inflation was not a "trigger to try something new", for inflation in itself wasn't new, not even greater than before (though, again, Milei stopped it before hyperinflation could take place).

The greatest trigger was the rock-bottom decadence of the last socialistic government. And the one and only reason Milei was possible is that the last government made the critical error of allowing 16 yo teenagers to vote, all of which were feed by social networks only, thus being impervious to government propaganda. So Milei greatest promise was to put an end to the madness in general, not just inflation.

This is fundamentally wrong. Way too ignorant to make such a claim, specially since it's not hard to get a prime on Argentina's economy to fact-check (specially if you are going to write a critique about it). The only reliable source of money to pay for all the bills is precisely the export industry, due to Argentina's massive farming industry and soon-to-be oil industry. Foreign investment has an all important role on developing the private sector, but the burden of the finances rely on farming and oil exports almost exclusively.

Milei absolutely never promised otherwise. He was and is always explicit on the different between his own beliefs and what he knows is practicable once in office.

I did this only for you @Bell_curve. I'm in awe at how little it takes to be entitled to write in this "prestigious" journals for which absolute ignorance seems to be a mandatory requirement. Don't make me do this again please, I feel I lose IQ when reading articles like this.