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fter months on the edge of the abyss, Argentine society seems to have managed to retreat back to a place of perceived safety. No longer does the sensation that things were about to implode dominate the conversation. The peso-dollar exchange rate, Argentina’s traditional fear gauge, isn’t front and centre given an expectation of impending doom, even if it does remain near the top of the floating bands set by the Milei administration together with the International Monetary Fund. A political catastrophe – such as an early termination of the presidential term – that would result in social unrest is no longer a potential (even if quite improbable) scenario. For the time being, Javier Milei has been returned to the political Olympus, his reformist mandate restored, along with his energy. The question now is, where do we go from here?
The above description is about the reset of majority expectations that occurred after the La Libertad Avanza coalition secured a victory in last month’s national midterms, including a win in Buenos Aires Province over the pan-Peronist front Fuerza Patria led by Axel Kicillof and Cristina
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