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1h ago

Milei Puts Campaign on His Shoulders as Markets Strain and Congress Rejects Key Vetoes

Facing veto defeats and currency pressure, the president bets on a personal campaign push to project control.

A 100 días de su arresto, Cristina Kirchner saludó a su militancia desde el balcón. (X)
El dirigente libertario aseguró que Argentina está cerca de dejar atrás al kirchnerismo.
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Overview

  • After a turbulent week for assets, the central bank sold about US$1.1 billion to defend the currency band as the dollar hit its ceiling and recent data showed a 0.1% GDP dip in Q2 and 3.1% wholesale inflation in August.
  • Lawmakers advanced veto reversals with wide margins: Deputies reapproved university financing and a pediatric emergency, and the Senate backed an ATN redistribution plan, with full legal effect depending on both chambers coinciding.
  • Milei will travel to New York for the UN, with planned meetings including Kristalina Georgieva and Donald Trump, part of an effort to calm markets and explore financing; officials cautioned that reported U.S. Treasury loan figures are speculative.
  • The government is courting governors to steady the 2026 budget process as a bill to curb presidential DNU powers moves toward a Sept. 30 committee deadline in Deputies, raising a new governability test.
  • Strains with provincial allies spilled into votes—Mendoza figures broke with the veto line—and distrust persists among the Provincias Unidas bloc, while Economy Minister Luis Caputo accused opponents of trying to topple the president.