Measuring Milei’s Argentine Progress. A year into his rule, the reform effort is working, but time is running short. (WSJ, December 8th, 2024)

“On a wall outside the office of Argentina’s deregulation czar, Federico Sturzenegger, hangs a kind of countdown “clock.” It registers—not in hours and minutes but in days—the time remaining until the expiration of a special law that grants President Javier Milei’s government sweeping legislative powers for one year. Congress passed the law in June. Last week, when I called on Mr. Sturzenegger, he proudly drew my attention to the illuminated sign, which read “217 days left.” Argentina is a regulatory nightmare in which red tape, growing like kudzu over generations, chokes off innovation and risk-taking. Mr. Sturzenegger is charged with cutting it down to size. He also leads the “transformation of the state.” But once the omnibus law expires, his super powers will go with it. If the government has to go back to negotiating with Congress—where Mr. Milei’s Liberty Advances party is in the minority—reform is likely to slow down at best. Thus the clock: Mr. Sturzenegger is a man on a mission.”