The way in which Donald Trump’s administration is bailing out Argentina is all “wrong,” the Wall Street Journal argued in its latest in a line of editorials calling out a presidential policy.
Read the full editorial at The Wall Street Journal.
The newspaper’s conservative editorial board acknowledged it’s “strategically important” to help out Trump-loving, chainsaw-wielding, self-declared “anarcho-capitalist” President Javier Milei, who campaigned on making drastic public spending cuts.
But it suggested that the U.S. Treasury’s “$20 billion ‘currency swap framework’ with Argentina’s central bank” is only “likely to throw good dollars after bad pesos without monetary reform in Buenos Aires.”
Instead, the Journal said dollarization is the only “correct and now essential policy alternative,” but Milei is opposed to that idea even though, the Journal said, the “instability of the peso without dollarization is one reason the opposition may win” in upcoming legislative elections.
