Initial surprise at the unexpected electoral victory for Javier Milei’s libertarians has turned into full blown euphoria. Economy Minister Luis ‘Toto’ Caputo has been making the rounds, once again promising a boatload of US dollars in terms of productive investments while defending the government’s economic policy scheme – particularly the questioned exchange rate “bands” that limit the strength and weakness of the peso.
We’ve seen this story before. On the political front, President Milei seems to have taken a back seat, with Presidential Chief-of-Staff Karina Milei in charge of everything, empowered after the widespread victory in national midterm elections a few weeks ago. Having elevated presidential spokesperson Manuel Adorni to the role of Cabinet Chief, while bringing on Diego Santilli as Interior minister, Karina is trying to secure the trifecta of reforms her brother needs to supposedly put Argentina on an inexorable path to economic greatness. Adorni and Santilli are already negotiating with provincial governors and other political sectors in order to secure votes for labour and tax reforms.
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