Buenos Aires, Argentina – In a powerful endorsement of President Javier Milei’s administration, prominent tech entrepreneur and investor Martín Varsavsky has praised his management as “the Argentine miracle.” Varsavsky, known for his keen insight into global markets, lauded Milei as “the president who with the greatest determination has led an economic recovery in recent Argentine history,” a sentiment that reflects growing international confidence in Argentina’s new direction.

Varsavsky cited several key indicators to support his claim, highlighting the remarkable turnaround in the nation’s economy. He pointed to a significant drop in inflation and a reduction in the poverty rate. Furthermore, he noted the substantial appreciation of the Argentine peso against the dollar, which he described as the best-performing currency globally, appreciating by an impressive 44.2% in 2024. This market confidence was also reflected in a significant drop in the country’s risk score.

The article details how this recovery was achieved from a dire starting point, with poverty at 52.9% and monthly inflation at 25.5% in late 2023. According to Varsavsky, the success is a direct result of the “drastic fiscal adjustments and a massive deregulation agenda” led by key officials like Luis ‘Toto’ Caputo and Federico Sturzenegger. Their efforts have led to the first budget surplus since 2012 and a notable reduction in public spending. The article also points to the recovery of the agricultural sector, with significant increases in production and exports, and new agreements with international organizations like the IMF and the World Bank, all of which underscore the success of President Milei’s decisive leadership.