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Milei’s Brand Fades as Argentina Seeks Third Way

Bloomberg Markets •
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Javier Milei’s anti‑corruption brand takes a hit as he hands power to Diego Santilli after a corruption scandal topples his top aide. The move tests his domestic reputation and his South‑Florida image.

The scandal, tied to the LIBRA token, has triggered protests across Buenos Aires. Tens of thousands marched demanding memory, truth and justice, echoing the 50‑year anniversary of the 1976 coup. The country’s inflation remains low at 2.7% in December, but poverty has risen.

Milei also vetoed university funding and pushed a 10‑year loan to shore up reserves. He has cut pension cuts and cut funding for programs that halved teen pregnancy rates. He remains a staunch Trump ally, echoing U.S. critiques of the WHO and supporting trade deals.

The president faces lawsuits over LIBRA, a crypto meme coin that once hit a $4 billion cap. Protestors and critics accuse him of “chainsaw” austerity/_, while unions stage a 24‑hour strike. Milei’s future in Argentina looks uncertain.