Odaily News As the LIBRA scandal continues to unfold, it is unclear how Millet will be impacted 10 months before Argentina’s midterm elections. The opposition quickly threatened legal action and an impeachment trial, but it is unlikely to progress as a two-thirds majority in Congress is required. The main center-right party of former market-friendly President Mauricio Macri, who supported Millet’s reforms, has so far expressed disappointment but rejected attempts by the Peronist opposition to oust Millet.
Pollsters say Milley may still avoid a major political price because inflation is falling, wages are rising and the economy is growing. His approval ratings have hovered around 47 percent for months, while all other parties in Argentina are lower and more fragmented. But the incident has renewed concerns about his sometimes erratic personality and decisions.
“Macroeconomic balance needs to go hand in hand with emotional balance, and this kind of thing creates a lot of unnecessary uncertainty,” said Alejandro Catterberg, director of Buenos Aires consultancy Poliarquia.
Meanwhile, Milley will travel to Washington this week, hoping to meet with Trump and gain his support for Argentina to get more money from the International Monetary Fund while the new plan is still under negotiation, and Argentina may also be exempted from Trump's tariffs. (Bloomberg)