Argentina Tames Inflation After 1000 Days, Surplus First in Decade; Sustainability Doubts Remain

Argentina has reduced inflation and achieved its first fiscal surplus in a decade under President Milei's shock therapy, marking a sharp reversal from years of monetary chaos. The durability of these gains is uncertain, as the country faces upcoming elections and potential pressure to ease austerity. This matters because sustained stabilization could shift Argentina's risk profile and capital flows, while a relapse would reignite crisis fears.