Overview

• With roughly 98% counted, Fuerza Patria won Buenos Aires by about 14 points, 47.2% to 33.7%, in a vote that was widely treated as a national bellwether.
• Javier Milei acknowledged a clear defeat, convened an urgent 9 a.m. cabinet meeting at the Casa Rosada, and said he will accelerate rather than alter his economic program.
• Markets reacted to the setback as the crypto-linked dollar topped 1,460 pesos, while Economy Minister Luis Caputo assured that fiscal and currency policy would not change.
• Analysts cited alleged corruption scandals around ANDIS and leaked audios tied to Diego Spagnuolo, along with alliance missteps involving Karina Milei and Sebastián Pareja, as key factors in the loss.
• Governor Axel Kicillof’s decision to separate the provincial vote and mobilize intendentes was credited with securing the win and elevating his standing ahead of the October 26 national contests, while regionally Spain prepared new Gaza measures and Brazil’s Supreme Court tried Jair Bolsonaro on coup-related charges.