US Ambassador Marc Stanley: Milei is building a ‘normal economy’

The diplomat sat down with the Herald on Wednesday to discuss the future of bilateral relations, artificial intelligence, and more

United States Ambassador to Argentina Marc Stanley sat down with the Herald at the Hilton Hotel in Puerto Madero on Wednesday as part of the newspaper’s “Herald Talks: Diplomats Edition.” There he discussed a range of topics, from the future of bilateral trade to the rapid expansion of artificial intelligence.

“President [Javier] Milei indicated that he wanted a strong alignment with the United States,” he said. “We heard what he said, and we responded.”

Stanley expressed optimism that once the Argentine economy has stabilized and there’s greater access to capital, the country will enjoy an influx of business. He added that Argentina’s overarching foreign exchange restrictions have been “one of the challenges over the last few years.”

“We’re not looking for an advantage — we’re just looking for normalcy,” he continued. “U.S. companies can go anywhere to do business. They can go to Uruguay, they can go to Chile, they can go to Europe, they can go to Brazil. Why do they want to go to Argentina if there is risk?”

Stanley remarked that Milei’s administration has made “great inroads in building what [Foreign Minister Diana] Mondino has called a ‘normal economy.’”

“There’s great interest, but it takes two to tango,” he explained. “If you build a house, you have to build the right foundation first. And I think the Milei administration and Congress are fixing the foundation for the house.”

Stanley also took time to reflect on Milei’s administration and the partnership possibilities that its market-friendly style of governance has invited.

“We both have what the world needs and wants,” he said. “We both have oil and gas. We both have rare earth minerals. We both have agriculture and livestock. We both have technology. We both have human capital. And we are the perfect partners to feed and fuel the world.”

The U.S. ambassador noted that since Milei assumed office in December 2023, the United States has sent “State Department of Energy and Treasury officials to Argentina, as well as representatives from the Department of Defense, SOUTHCOM, Homeland Security, the DEA, the CIA, the Senate, and the White House,” among others.

“We want to make it work,” he emphasized.

While Stanley identified rare earth minerals as the economic sector where Argentina has the greatest growth potential, he acknowledged that artificial intelligence has the capacity to radically transform not just how countries do business but how people live their daily lives. 

“You have a phone in your hand, right?” he asked the Herald editorial team. “What did you do before that phone 20 years ago? Where did you get that information? You didn’t have it.”

“Our lives totally changed 20 years ago,” he continued. “So I can’t tell you what our lives are going to be like in five years once quantum technology and artificial intelligence [really take off].”

Stanley separately registered his concern about the future of Argentina’s scientific sector, which has been subjected to public spending cuts, and the well-being of the country’s youth.

“Argentina has some of the best scientists in Latin America,” he said. “I hope it continues to be nurtured. The country also has one of the best education systems dating back to Sarmiento, but more than 55% of children are now living in poverty. I worry about it.”

The Buenos Aires Herald, which officially relaunched in 2023 after a six-year hiatus, celebrated its 148th anniversary on Saturday.

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