Javier Milei’s next move could make his presidency—or break it

In December, as he took office, Argentina’s economy was a tangle of rampant inflation and unsustainable price controls. To clean up, Mr Milei slashed spending. The central bank stopped printing money to finance the deficit. As a result, Argentina has had fiscal surpluses for five months in a row. Inflation spiked after a sharp devaluation, but has since fallen to a monthly rate of 4.2% in May, the lowest in over two years.