The view of others

Argentines have long been accustomed to the vision the country offered to the outside world being anything but comforting. The usual topics also included instability and, above all, inflation, which is anchored in the economic system.

However, towards the end of 2025, this climate changed significantly and a series of recognitions were announced through journalistic expressions of undisputed prestige in the international order.

BBVA Research points out that Argentina could see three consecutive years of economic growth for the first time in two decades. The country’s gross domestic product (GDP) would rise by 4.5% in 2025 and by 3% in 2026 and 2027, after a year of adjustment and decline in 2024 (Infobae, 12/20/25).

This success could represent a potential cycle change for the Argentine economy, which has been unable to string together three consecutive years of growth since 2006.

Every year the Economist, one of the most respected international business media, chooses the country of the year, not the happiest or most influential, but the country that has improved the most economically, politically or in another relevant area.

The two finalists that year were Argentina and Syria.

In the case of Argentina, the media points out that soon after its implementation, its president implemented sweeping free-market reforms in the hope of lifting the country out of more than a century of statism and stagnation: the elimination of price controls, spending cuts, privatizations and the elimination of distortive subsidies, difficult and painful initiatives that have failed many previous reform attempts. Nevertheless, voters supported him.

According to the publication, the results are remarkable: among other things, the astronomical decline in inflation and the poverty rate, and the state budget is on track.

However, the publication warns that Argentina could still fail. “The Peronists, who have misgoverned the country for generations, are waiting for their chance to return when Milei stumbles. And the president has many flaws: he does not tolerate criticism and is inexperienced in managing public affairs…” although “…if his reforms continue, they could permanently alter the country’s trajectory and give hope to economic reformers around the world” (La Nación, 12/20/25).

These circumstances led to the fact that, despite the successes in the Argentine economy, it was decided to name the remaining candidate as Country of the Year: the Syrian Republic, in this case due to its major changes in the political and social order.

However, the very fact of his nomination is an unprecedented international honor in Argentine history.

Another recognition: In the annual election conducted by the editors of the American Newspaper Group (GDA) to elect the characters of the year, the most voted regionally was President Milei, who is said to have ushered in perhaps the most acclaimed change in Argentina’s history.

He reduced the size of the state, eliminated organizations and reduced the number of public sector employees. He froze his income (and that of civil servants) and adjusted pensions.

The result: inflation in 2023 of 211%, accelerating towards hyperinflation, in the last 12 months it is 31%.

Another advantage: when the elections arrived, his new party, La Libertad Avanza, won an important victory. It increased from two MPs in 2021 to 95, making it the first minority.

It remains to be hoped that the reform processes that have led to the above-mentioned and unusual distinctions for Argentina’s punished history can be consolidated for the benefit of all.

*Economist. Honorary President of the Grameen Argentina Foundation.