Argentina is safer to lend to. Is it safe enough to invest long-term? - Buenos Aires Herald

Markets are warming to Argentina as inflation cools and the fiscal balance improves, but institutional trust remains weak. Country risk hovers around 500 basis points, and inflation, while down from 2023, remains high by global standards. The Milei government has delivered macro gains, including a fiscal surplus, yet questions about rule of law and data credibility persist. Economists cite Acemoglu, Johnson, and Robinson's work showing inclusive institutions underpin durable growth. Transparency International scores sit at 37/100 in 2023 and 36 in 2025, underscoring governance risks despite improving macro metrics. The piece argues that long-term confidence depends on stronger institutions.