Weisbrot (Newsweek): US Bailout Won’t Fix Argentina’s Economy or Government

[Center for Economic and Policy Research]

Argentina will need an actual government—one that is willing and able to take necessary and constructive steps to resolve its current crisis. ---

Trouble reading this email? View it on your web browser. US Bailout Won’t Fix Argentina’s Economy or Government   By: Mark Weisbrot | October 16, 2025 | Newsweek   This article was published by Newsweek on October 16, 2025.   “I love being the mole in the state. I’m the one who destroys the state from within,” proclaimed Javier Milei soon after his election to the presidency of Argentina.   Milei took office in December 2023 and would soon become Donald J. Trump’s “favorite president.” But it turns out that a president who does not believe in government, and in fact wants to destroy it, is not likely to have an effective strategy for recovery in an economic crisis.   Milei has taken Argentina to new records of indebtedness, signing up to add an enormous $42 billion to Argentina’s foreign public debt on April 11. The IMF led the pack, as is the custom, lending the country $20 billion with an unprecedented $12 billion up front. Then the World Bank joined in with $12 billion, and the Inter-American Development Bank with $10 billion. All announced on the same day.   Read the full article here Mark Weisbrot is Co-Director of the Center for Economic and Policy Research in Washington, DC. He received his Ph.D. in economics from the University of Michigan. He is author of the book Failed: What the "Experts" Got Wrong About the Global Economy (Oxford University Press), co-author, with Dean Baker, of Social Security: The Phony Crisis (University of Chicago Press), and has written numerous research papers on economic policy.   Chip in $25 today The Center for Economic and Policy Research (CEPR) is an independent, nonpartisan think tank that was established to promote democratic debate on the most important economic and social issues that affect people's lives. CEPR was co-founded by economists Dean Baker and Mark Weisbrot in 1999. CEPR's Advisory Board includes Nobel Laureate economist Joseph Stiglitz; Janet Gornick, Professor at the CUNY Graduate Center and Director of the Luxembourg Income Study; and Richard Freeman, Professor of Economics at Harvard University. If this email was forwarded to you, subscribe to CEPR's email lists here. 1611 Connecticut Ave. | Ste. 400 | Washington DC Ph: (202) 293-5380 | in...@cepr.net If you believe you received this message in error or wish to no longer receive email from us, please unsubscribe.