U.S. House Financial Services Committee Chairman French Hill published an opinion piece following a bipartisan congressional delegation to Argentina, Paraguay and Peru, arguing that President Javier Milei’s programme of deregulation, trade liberalisation and fiscal tightening is already improving Argentina’s macroeconomic trajectory. The delegation met Milei, Economy Minister Luis Caputo, Central Bank leader Santiago Bausili and Foreign Affairs Minister Gerardo Werthein. The piece cites annual inflation falling from nearly 300% in April 2024 to 36.6% in July 2025, a budget surplus by end-2024, and poverty reductions from 53% to 38%, including a 14 percentage point drop in childhood poverty affecting 1.7 million children. It also highlights the lifting of capital controls in April, with Morgan Stanley estimating USD 2.5 billion of foreign investment, and references Paraguay’s fiscal steps and central bank financial and foreign exchange regulatory reforms alongside a Moody’s improvement in creditworthiness, as well as Peru’s inflation being kept within a 1% to 3% target range under a central bank described as independent. Hill linked Milei’s longer-term success to completing the transition and demonstrating the ability to refinance Argentina’s existing debt on global markets.
U.S. Financial Services Committee 2025-09-23
U.S. House Financial Services Committee chairman promotes Milei reforms after bipartisan delegation to Argentina, Paraguay and Peru
U.S. House Financial Services Committee Chairman French Hill highlighted Argentina's economic improvements under President Javier Milei's deregulation and fiscal policies, citing reduced inflation and poverty rates. The piece notes the lifting of capital controls, increased foreign investment, and Paraguay and Peru's fiscal and regulatory reforms. Hill emphasizes the importance of Argentina completing its economic transition and refinancing its debt on global markets.