Argentina's President Milei faces mounting calls from investors to let the peso float freely, yet remains hesitant to make this move. The real challenge? The country is still grappling with decades of monetary expansion — a quick fix for fiscal problems that's become deeply entrenched. The central bank's habit of printing money to cover government spending has created a structural imbalance that simply floating the currency won't instantly resolve. While markets push for currency liberalization, Milei knows that untethering the peso too quickly could trigger immediate inflation spikes and capital flight. It's a classic catch-22: do nothing and credibility erodes further; move too fast and economic shock follows. Argentina's journey mirrors broader lessons for any economy hooked on monetary expansion — there's no painless exit.