The Intelligence from The Economist Chainsaw out of gas? Milei’s experiment wobbles
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Oct 3, 2025 
Hal Hodgson, America's editor at The Economist, provides insight into the challenges facing Argentina's President Javier Milei, including a troubling election loss and family scandals that jeopardize economic reforms. He also discusses U.S. support for the peso amid increasing market volatility. In an archival interview, the legendary Jane Goodall shares her groundbreaking discovery of chimpanzees using tools and reflects on her early fieldwork in Tanzania, emphasizing her passion for conservation and community involvement.
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Milei's Fragile Early Momentum
- Javier Milei's political position was initially strong because markets trusted his fiscal cuts and voters liked his style.
- Recent electoral defeat and corruption accusations have made that position fragile and risked market confidence.
Local Loss And A Family Scandal
- Milei lost a minor Buenos Aires province election and his sister faced bribery accusations tied to pharmaceutical contracts.
- Those events together shattered the image of him as an anti-corruption, fiscally responsible outsider.
Peso Defense Revealed Weak Reserves
- The central bank intervened heavily to defend the peso, spending about a billion dollars over two days.
- That intervention exposed Argentina's thin dollar reserves and highlighted the government's vulnerability to market pressure.