However much of a paradox the markets being so relentless with perhaps the market-friendliest government here of this century, the lethal cocktail of financial turbulence and political scandal afflicting the Javier Milei administration in this electoral month has its reasons. The financial relief from the massive Donald Trump package spearheaded by a US$20-billion currency swap ended up lasting about as long as the elimination of grain export duties. The latter amounted to a tax break of US$1.5 billion for a dozen major export companies to coax US$7 billion into depleted reserves with almost minimal benefit for irate farmers in an electoral month – a tax break also injecting a huge mass of pesos to infl
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