Despite loosening Argentina's iron-fisted control over the peso, President Javier Milei is essentially still keeping the currency on life support. The moves to ease restrictions haven't translated into genuine market freedom—behind the scenes, policy mechanisms continue propping up the peso artificially. This halfway approach reveals the tension between economic liberalization rhetoric and actual implementation. For those tracking global macro trends, Argentina's currency predicament is a textbook case: you can't deregulate on paper while maintaining control through the back door. The peso's dependency on government intervention remains the core issue, raising questions about the sustainability of current reforms and their ripple effects on asset markets.