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Video of the Day: Two Crucial Mistakes That Could Sink Milei in Argentina

Our CTUP co-founder Steve Forbes has words of warning for President Javier Milei, who is touring the U.S. to encourage tech companies to invest in Argentina.

Forbes praises Milei for extolling free markets and slashing government spending.  But he warns that Milei is so far making “two crucial mistakes”:

1. Delaying the dollarization of the economy even though Argentines hold $246 billion in foreign bank accounts, safe deposit boxes, and mostly undeclared cash.  This amounts to over 50% of Argentina’s GDP in current dollars that could ease the transition to a dollar economy.

2. Trying to cure inflation by throwing the economy into recession.

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