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5d ago

Milei Confronts Bribery Scandal and Market Strain as Elections Near

A rare move to prop up the peso underscores mounting strain on his governing strategy.

Argentina's President Javier Milei and General Secretary of the Presidency of Argentina Karina Milei gesture onstage during the closing campaign rally of the La Libertad Avanza party, days before the legislative elections in the province of Buenos Aires, in Moreno on the outskirts of Buenos Aires, Argentina, September 3, 2025. REUTERS/Agustin Marcarian/File Photo
Argentina's President Javier Milei gestures during the closing campaign rally of the La Libertad Avanza party, days before the legislative elections in the province of Buenos Aires, in Moreno on the outskirts of Buenos Aires, Argentina, September 3, 2025. REUTERS/Agustin Marcarian/File Photo
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Overview

  • Late-August leaked recordings appeared to discuss kickbacks involving Karina Milei, allegations the president rejects, with no public comment from her.
  • The Treasury said it would step into the foreign-exchange market this week to steady the peso after stocks fell more than 14% in August and touched their lowest since early April.
  • A Trespuntozero poll put Milei’s approval at 39% in August, and a Management & Fit survey found 73% of respondents concerned about the bribery case.
  • Congress on Thursday overturned Milei’s veto on a disability funding bill, signaling tougher resistance to his reform agenda ahead of the Sept. 7 Buenos Aires province vote and the Oct. 26 midterms.
  • Reporting points to a power struggle inside the government, with Karina Milei consolidating control as strategist Santiago Caputo is sidelined through audits and reduced responsibilities.