In November, Argentina elected libertarian Javier Milei as its new president. Deemed by many as a far-right meme, Milei's plans include shutting down the central bank, ditching the peso, and slashing spending—potentially painful reforms that resonated with voters frustrated by Argentina's economic decline. Speculation is rampant over whether Milei will follow through with his promise to shut down the Banco Central de la República Argentina and what the future ramifications would be for the country's economy. Interestingly, until the First World War, Argentina's per capita income was similar to that of the US; now it's only 20% of it.