Latest news with #LaLibertadAvanza
Bloomberg
31-07-2025
- Business
- Bloomberg
Milei's Party Holds Big Lead In Poll Ahead of Midterm Vote
President Javier Milei's political party holds a significant lead ahead of Argentina's midterm elections in October, which investors are watching as a referendum on the libertarian's pro-market agenda. Nearly 39% of participants in a recent poll said they planned to vote for Milei's party, La Libertad Avanza, well ahead of 28% intending to cast ballots for the main Peronist bloc, Union por la Patria, according to LatAm Pulse, a survey conducted by AtlasIntel for Bloomberg News. All other parties, such as former president Mauricio Macri's PRO, polled in the single digits.
Miami Herald
17-06-2025
- Business
- Miami Herald
Milei eyes legislative win to push second wave of reforms
June 17 (UPI) -- Argentine President Javier Milei plans to introduce a new package of state and economic reforms to Congress after the country's legislative elections in October. Milei hopes the vote will strengthen his party, La Libertad Avanza, which holds limited representation in Congress. He aims to win control of the Senate with allies, unseat the Peronist-Kirchnerist bloc and push his reform agenda through quickly. Recent polls show Milei's party leading voter preferences by a wide margin, polling between 37% and 43%. The left-leaning coalition Unión por la Patria trails with support between 30% and 33%, while other parties lag far behind. If Milei wins big in October, he plans to launch a broader reform program targeting Argentina's government, judiciary and public security system. On fiscal policy, Milei says he wants to cut consolidated public spending to no more than 25% of GDP by 2027. "The national government, provinces and municipalities will all have to do their part," he said. The administration plans to eliminate 90% of national taxes, keeping only six, in a bid to dismantle Argentina's complex tax system and shrink the state bureaucracy. Milei has pledged to give Argentines "greater economic freedom," including lifting price controls and opening up foreign trade. On security, the government wants to lower the age of criminal responsibility, raise penalties under the penal code and pass a national security law. The measure would expand powers for the state, intelligence services and law enforcement to combat crime. The proposed justice reform seeks to address the country's public safety crisis by curbing what the government sees as excessive political influence over the judiciary. Milei has said he will nominate candidates this year to fill all vacancies in the federal justice system. That includes top judgeships, federal courts, prosecutors and public defenders -- positions that account for about 40% of Argentina's federal bench. On the economic front, the government plans to end controls on foreign currency transactions, expand deregulation, downsize overlapping agencies and speed up privatizations. Officials have not ruled out including Aerolíneas Argentinas. On immigration, Milei wants to tighten citizenship rules, restrict free access to public healthcare -- particularly along the Bolivian border -- and limit enrollment of foreign students in national universities. He also aims to authorize expedited deportation procedures. In labor policy, the government aims to curb union power. The plan would require 75% of normal operations to continue during strikes in essential services such as healthcare, education, security and telecommunications. For sectors deemed critically important -- including food production, banking, exports and construction -- a minimum service level of 50% would be required. Milei's first reform package included deep fiscal austerity, cutting public investment, halting money printing by the Central Bank, closing state agencies and laying off about 43,000 public employees. The government also launched privatization efforts for eight state-owned companies. The measures triggered a drop in consumption and wages, affecting employment and private sector output. Still, the administration points to falling inflation -- down to 1.5% in May -- along with rising imports and exports, climbing stock values for Argentine companies and a new agreement with the International Monetary Fund as key achievements. Copyright 2025 UPI News Corporation. All Rights Reserved.
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First Post
09-06-2025
- Business
- First Post
'Rough up local crook': Argentina's Milein insults Spanish PM Sanchez in expletive-laden speech
Argentina President Javier Milei on Sunday renewed his expletive-laden attack on Spanish Prime Minister Pedro Sánchez, labeling him a 'crook' during a visit to Madrid for an economic forum read more Argentina President Javier Milei on Sunday renewed his expletive-laden attack on Spanish Prime Minister Pedro Sánchez, labeling him a 'crook' during a visit to Madrid for an economic forum. According to a Buenos Aires Times report, in a fiery speech where he declared 'death to socialism,' Milei intensified the ongoing feud between the two leaders. Their dispute dates back to last year when Milei accused Sánchez's wife of corruption, prompting Spain to withdraw its ambassador from Argentina. STORY CONTINUES BELOW THIS AD Milei delivered his remarks at the Madrid Economic Forum, a libertarian event with strong connections to cryptocurrency circles. With rock music blaring and some audience members hurling insults at Sánchez, Milei spoke animatedly, taking another jab at the Spanish prime minister, added the report. 'If you want to rough up the local crook too, I've got no problem with it,' Buenos Aires Times quoted Milei as saying, referring to Sanchez. Later in his speech, which centered on defending his administration's economic policies, Milei reacted to audience members who shouted, 'We need you here!' 'I will always be on your side when it comes to opposing the socialist scum,' he was quoted as saying, followed by an expletive referring to Sánchez's party, to thunderous applause. As of late Sunday, Spanish officials had not responded to Milei's remarks, according to Buenos Aires Times report. Milei's comments came just hours after tens of thousands rallied in Madrid at an opposition-led protest, accusing Sánchez's government of corruption. Sánchez's wife, brother, and a former top aide are all under investigation in separate graft cases — probes he has dismissed as a right-wing smear campaign. Milei, who took office in December 2023, has vowed to revive Argentina's ailing economy through aggressive spending cuts and deregulation. While his government recorded the country's first budget surplus in over a decade, rising inflation, job losses, and falling consumer spending have fueled public unease. At the forum, the La Libertad Avanza leader delivered a forceful defence of his economic agenda. STORY CONTINUES BELOW THIS AD 'Our goals were very ambitious. They said it was impossible, and now, after a year-and-a-half, we have exceeded all our campaign goals. They told us it was impossible to make a five-point adjustment in a month, and we did it,' the president was quoted as saying. 'The model is definitely working. Therefore, what I want to leave you with is the testimony that the ideas of freedom work,' Milei said. 'We know what needs to be done, we know how to do it. Therefore, let us not lack the courage to do it, because we are the ones who can get everyone back on their feet,' continued the president, whose speech was widely applauded. Milei also declared that 'by 2026, inflation in Argentina will be a thing of the past.' 'Today, Argentina has embraced the path of growth. In 40 years, it will be the world's leading power, without a doubt,' he claimed. As is typical, President Milei, who refuses to hold press conferences, took aim at the media, denouncing 'corrupt journalists who spread filthy news'. STORY CONTINUES BELOW THIS AD 'We don't have enough real journalists,' he added. Milei arrived in Madrid on Saturday from Rome, where he met with Pope Leo XIV, as part of a 10-day tour of Europe and Israel. During his visit, he also met with Santiago Abascal, his political ally and leader of Spain's far-right Vox party. No meeting with Prime Minister Sánchez is scheduled. On Sunday, Milei also held talks with Venezuelan opposition leader Edmundo González Urrutia, who has been living in exile in Spain since September. With inputs from agencies
Bloomberg
05-06-2025
- Business
- Bloomberg
Buenos Aires Debt Climbs as Milei Confronts Local Election Test
Investors are snapping up debt from Argentina's largest province on bets that President Javier Milei's political party will extend its winning streak in another local election in less than three months. Dollar notes issued by the Province of Buenos Aires are the best-performing government credits across emerging-markets since the president's libertarian bloc, La Libertad Avanza or LLA, won in a city hall race in mid-May, according to pricing data compiled by Bloomberg.
The Star
19-05-2025
- Business
- The Star
Argentina markets bask in Milei's local election win glow
Argentina's President Javier Milei and his sister Karina Milei embrace onstage at the La Libertad Avanza party headquarters on the day of the legislative elections of the city of Buenos Aires, Argentina, May 18, 2025. REUTERS/Tomas Cuesta BUENOS AIRES (Reuters) -Argentina's markets enjoyed the glow on Monday of a mood-boosting local election win by the party of investor-friendly libertarian President Javier Milei, which analysts said put him in good stead ahead of more important ballots later this year. Milei's party won the most votes in legislative elections in wealthy capital Buenos Aires, beating pollsters' forecasts. The win gives Milei just a few more seats in the city's legislature, but is symbolic of his rising fortunes. "The bulk of the support was all to do with Milei," said Buenos Aires-based political consultant Shila Vilker with Trespuntozero, adding it was a "resounding win" for Milei's brash brand of austerity and deregulation. "It's a confirmation of the course they're on." While Milei is divisive, he has kept voters on his side by bringing down what was triple-digit inflation via tough spending cuts and reducing monetary emissions, moves that have won him plaudits from investors and the International Monetary Fund. The latest vote suggests his political footing remains firm, which markets have cheered - even if the real-life impact of the vote is limited, with his party still holding a minority in the city's legislature after the victory. On Monday, bonds edged up around half a percent, while the S&P Merval stock index was up nearly 2%. "Milei's list wasn't expected to come first, and that has two implications," said Graham Stock, emerging markets strategist at RBC Global Asset Management, adding it gave Milei leverage with his more moderate conservative allies. "It suggests that they're going to do better than expected in the midterms in October, but even before that, it creates more momentum behind a deal (with center-right party PRO)." Argentina will renew half of the seats in the lower Chamber of Deputies and a third of those in the Senate in the midterm vote. Milei, an economist and acid-tongued former pundit, came to office in December 2023 after a shock election win. The country still faces a major challenge to build up depleted foreign currency reserves, which it needs to hit targets under a new $20 billion IMF deal, while the recent lifting of capital controls has made the peso more volatile. And not everyone was convinced that it was a win for Milei, with voters split - and many not turning up at all. "My interpretation is that no political party won," said Buenos Aires lawyer Juan Pablo Mares, citing one of the lowest-ever voter turnouts with many people apathetic and struggling under still-high inflation and cuts to public services. "If the political leaders don't look at that, read it, and learn from it, they will continue to be divorced from the reality we all face." (Reporting by Walter Bianchi and Juan Bustamante; Additional reporting by Rodrigo Campos; Writing by Adam Jourdan; Editing by Andrea Ricci)
