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> But if it improves, is that on Milei? Or is it just waiting out the worst of a bad economic boom-bust cycle?

This might be a valid observation in most other countries, but Argentina has been a basket case for ages. It’s defaulted nine times in a little over 200 years, and two of those defaults were in 2014 and 2020. I think this is one of those cases where you might could attribute a dramatic one or two year turnaround to the person actually doing something new (spending less).






When I look at Argentina I still see boom-bust cycles that subside.

The most prominent crashes I can remember are in the late 90s/early 2000s and the current one.




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