MercoPress. South Atlantic News Agency

Global media highlight Milei's “biggest crisis”

For the first time, Milei's approval rating fell below 40%, the FT admitted

The Argentine Government's recent political and economic setbacks have drawn significant attention from international media outlets, including the Financial Times and The Wall Street Journal.

After the electoral loss in the province of Buenos Aires to Peronism by a margin of 13 points has been identified as a major sign of voter disillusionment, both publications highlighted the alleged corruption scandal involving Presidential Secretary (and sister) Karina Milei, which polls suggest most Argentines believe to be true.

The Financial Times also noted that a dramatic slowdown in economic recovery has compounded voter frustration. Following the election loss, the Argentine peso depreciated by 4% and the prices of Argentine bonds dropped before a partial recovery.

In addition, the articles highlighted Milei's government's struggles in Congress, where it is a minority, and its difficulty in reaching consensus with opposition parties, as Milei's approval rating has fallen below 40% for the first time.

The outlets further suggested that while the government may perform better in the national midterm elections than it did in the Peronist stronghold of Buenos Aires, the recent crises present a significant challenge that could worsen if a favorable result is not achieved in October.

While the Financial Times spoke of Milei's “biggest crisis,” The Wall Street Journal aimed at his sister on Sunday, echoing many analysts in Buenos Aires who have hinted that Karina was so deep into the National Disability Agency (Andis) scandal that the Libertarian administration should consider either letting her go or removing her from the spotlight.

The piece in the British newspaper, authored by journalist Ciara Nugent, went on to say that the economic recovery slowed dramatically, as last Sunday's polls would show. On top of that, lawmakers originally elected under Milei's Libertarian tickets have parted ways and sided with the opposition on many key issues the “belligerent” head of state keeps vetoing.

Although the Mileis described the accusations as lies, most Argentines believe the accusations, Nurgent noted after acknowledging the Libertarian administration's “visible achievements” during its first year in office.