I'm John Bachelor, and I welcome Marianne O'Sachio Grady, the America's editor and columnist for the Wall Street Journal editorial page, Argentina.

One of the celebrations of covering Latin America these last years has been Argentina.

But now, Mary, a very good evening to you.

Mr. Kurch, President Christina Kurchner is house arrested, and she just lost a fortune because the courts pretty much

ruled that she'd stolen it. So the Kirchner's, the Perrinistas, are in a shadow. At the same time,

the president of the country, Mr. Malai, can be regarded as successful. However, there will come a day when he faces for

re-election and there are doubts about the future with or without him. I learn from your new

column that that has to turn on not just Mr. Malay's conduct or that of his sister or that of his

inner circle.

There are always corruption scandals to talk about.

But it has to do with the institution of the peso.

What does that mean, Mary?

Good evening to you.

Well, good evening, John.

It's a kind of complicated topic, but it can be simplified in the sense that the

Argentine peso has a very bad history of hyperinflation,

devaluation, and wiping out the economy every so many years.

I mean, maybe let's say 10 or 20.

And this time is supposed to be different because Malay believes in free markets and he wants

to open the economy, he wants to deregulate and so forth.

But whereas he ran on in 2023 on a platform promising to close the central bank and dollarize

the economy, he's decided not to do that. And there's

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