Some politics news of note, Trump’s US$20bn bail out of Milei seems to have propelled him to the election win.
Via WSJ (gated) wrap-up:
- President Javier Milei decisive political win
- tightens his grip on Argentina’s Congress
- with over 90% of votes counted, Milei’s Freedom Advances party won almost 41% of the national vote, stronger than most polls had predicted
- will more than double its representation in Congress
- should secure at least one-third of the seats in both chambers
Argentine bonds and the peso expected to rally.
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Trump announced a $20 billion currency swap this month to prop up Argentina’s currency
- promised to raise another $20 billion from private banks and sovereign-wealth funds
This article was written by Eamonn Sheridan at investinglive.com.
