Argentines have become experts at ascribing outsized importance to their country and its socio-cultural figures, from football players to politicians.

A seemingly all-powerful Javier Milei has taken Argentina, and a great part of the world, by storm.

Argentine President Javier Milei recently completed a year in office. Milei’s tenure has been a mixed bag so far. Milei, who supports minimal or no government interference in economic matters, began his tenure when Argentina was going through its worst economic crisis in at least two decades.

Argentina's government has privatized metallurgical firm IMPSA, the economy ministry said on Wednesday, marking its first privatization since libertarian President Javier Milei took power just over a year ago promising to shrink the state.

Argentina paid international bondholders before a Thursday deadline, marking another step in President Javier Milei’s efforts to restore investors’ confidence in the serial defaulter.

According to the Financial Times, this growth would only bring GDP per capita back to its 2021 level, so Argentina still has a long road ahead. Nevertheless, the strong rebound in the face of steep austerity, coupled with a rapidly improving inflation environment, is a significant milestone.

"Debts must be paid," declares President Javier Milei as Treasury makes first due bond repayments of 2025, amounting to US$4.341 billion in principal and interest.

The Global X MSCI Argentina ETF provides targeted exposure to the rapidly evolving Argentine economy. Read more here.

Yet, “El Loco”—The Madman, as his countrymen call him— accomplished the unimaginable: Argentina’s fiscal deficit was eliminated for the first time in 123 years. In December 2024, Argentina emerged from the severe recession it entered in late 2023. Also, annual inflation is down from near 300% last April to nearly 100% (or about 2.5% monthly).

President Javier Milei announces that Argentina's Budget for next year will be an extension of the current one – itself a rollover from 2023.

Argentina's sovereign bonds climbed on Friday's announcement. Benchmark notes due in 2035 touched a session high before paring gains

As Elon Musk and Argentina’s Javier Milei champion ambitious plans to dramatically slash the size of government, a similar effort is getting underway across the globe from political leaders with a completely different ideology: Vietnam’s Communist Party.