BUENOS AIRES—President Javier Milei drew praise from Wall Street to the White House for a free-market overhaul of Argentina’s ailing economy. Nearly two years on, the promised recovery from his self-described economic shock therapy is nowhere in sight.
The economy is contracting. Tens of thousands of jobs lost during Milei’s tough austerity drive have yet to come back. Clothing stores have shut their doors. Pensioners and teachers say they can’t make ends meet. Financial markets are beset by growing turmoil.
