The Journal. Why Is the U.S. Giving Billions to Argentina?
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Oct 24, 2025 
In this engaging discussion, Ryan Dubé, a Latin America reporter for The Wall Street Journal, unpacks Javier Milei's controversial leadership in Argentina amid a struggling economy. He highlights Milei's close ties with Trump, illustrating how their populist approaches align. As Argentina heads to the polls, Dubé examines the impact of Milei's austerity measures on everyday citizens and the recent U.S. bailout plan, raising questions about its implications for both nations. Voter skepticism about U.S. intervention adds another layer of intrigue.
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Chainsaw Campaign Symbol
- Javier Milei campaigned wielding a chainsaw to symbolize drastic public-sector cuts.
- The stunt helped him win by showing voters he would sharply reduce spending and bureaucracy.
Austerity Brought Trade-Offs
- Milei's austerity cut inflation but also triggered job losses and lower consumption.
- Those social costs weakened private-sector demand and slowed overall recovery.
Peso Peg's Hidden Costs
- Pegging the peso to the U.S. dollar kept it strong and curbed inflation but harmed exporters.
- The strong peso made local tourism and exports less competitive abroad.