scroll to top arrow or icon

{{ subpage.title }}

Francisco M. C. de Oliveira

Viewpoint: Deepening crisis in Argentina bolsters Milei’s presidential prospects

Outsider candidate Javier Milei is consolidating his position as the frontrunner ahead of Argentina’s Oct. 22 presidential election even as investor concerns about his policy promises exacerbate the country’s financial turmoil. Milei’s surprising first-place finish in the recent primaries has prompted a currency sell-off that is fueling price pressures in an economy where inflation is already running above 100%.

Economy Minister and ruling party candidate Sergio Massa has called for the formation of an anti-Milei coalition while announcing pre-election giveaways that are likely to further fuel inflation. In a sign of mounting hardships, there have been outbreaks of looting at stores across the country.

Yet the more economic conditions deteriorate, the more appealing voters will find Milei’s promises for radical change, according to Eurasia Group expert Luciano Sigalov. We asked him to explain.

Read moreShow less

A one thousand Argentine peso bill sits on top of several one hundred U.S. dollar bills


Will Argentina adopt the US dollar?

Argentina on Monday unveiled new emergency measures to fight its 109% inflation rate and support the ailing peso amid rapidly dwindling foreign currency reserves and growing fears of a devaluation.

Read moreShow less

Subscribe to our free newsletter, GZERO Daily