Argentina’s President Javier Milei is fighting for his political survival. New turmoil in financial markets is shaking the South American country.
The Peso plunged more than six percent on Tuesday before the central bank intervened. The risk premiums on Argentine government bonds also skyrocketed.
Milei, who had taken a radical course of reform, now threatens to fail at reality. According to Gabriel Caamaño of the consulting firm Outlier the markets are mainly concerned about the midterm elections in October. A failure could slow down Milei’s agenda and plunge the country back into crisis.
