The Wall Street Journal praises President Javier Milei for his bold steps in taming Argentina’s runaway inflation. Since taking office, Milei has cut subsidies, eliminated red tape, constrained money printing, and reignited fiscal discipline — actions that have helped bring monthly inflation down dramatically. But, as the editorial notes, these gains alone won’t be enough; he needs strong external backing and structural reforms to fully stabilize the nation.

While inflation control is a major achievement, the WSJ warns that Argentina’s weak reserves, dependence on a managed exchange rate, and a fragile peso remain open wounds. Without deeper confidence from foreign investors or supportive bilateral deals, the pressure could return. The editorial suggests that U.S. financial assistance or bond purchases might prove essential to bridge the gap.

The piece argues that to pull this off, Milei may need to go further — putting dollarization on the table, allowing the unused U.S. dollar holdings in Argentina to work, and signaling a credible plan that aligns with international partners. Only then will the trust needed for sustained investment flow in.

These outside endorsements matter. They reinforce Milei’s domestic narrative: that Argentina’s turnaround is credible, that the risk of default is manageable, and that recovery is possible if backed by policy rigor and global alliances.