Argentine President Javier Milei.

Something unfamiliar is spreading in Argentina: optimism. The impact of President Javier Milei’s dramatic economic reforms has exceeded expectations, even as Milei has maintained popular support. But there is now so much enthusiasm that it raises the risk of irrational exuberance, especially given the scale of the challenge ahead.

Argentine President Javier Milei.

The past few weeks have seen the insults fly among Latin American leaders, with Venezuela’s foreign minister labeling Argentina’s ruling party “neo-nazis,” and Argentina’s president calling Colombia’s president a “murdering terrorist.” Unfortunately for the region, there are significant real-world consequences of this petty name-calling.

Free Newsletter