Argentine Peso Jumps 10% After Milei's Midterm Election Win

Watch Argentine Peso Jumps 10% After Milei's Midterm Election Win - Bloomberg on Dailymotion

Transcript

00:00Argentina President Javier Milley faced a crucial midterm test on Sunday night,

00:05and she blew it out of the water.

00:07After a crushing defeat by 14 points in a local vote last month,

00:11investors were losing faith in Milley's free market experiment.

00:15Even Donald Trump extended a $20 billion lifeline to the crisis-prone nation.

00:21Milley turned it around with 41% of total votes,

00:25far more than even the most bullish pollsters were predicting,

00:28and 9 points above the opposition.

00:32Argentina bonds and stocks soared in response,

00:35with benchmark dollar notes up more than 13 cents.

00:39This doesn't mean things will be easy.

00:41With over a third of the lower house secured,

00:44but still far short of a simple majority,

00:46the brash libertarian is going to have to sit down

00:49with all the moderates he once called traitors

00:52to pass lasting reforms and generate growth.

00:55That is, a tax reform, a labor reform, and a pension reform.

01:01All of these are key to ensure he has a chance at re-election in 2027.

01:07all of these correct说ions are long,

01:11but still moving forward to 50 cents.

01:13All of these are MINISES in 172 07.

01:14WestLY 97.

01:16What of the right work for the lineman?

01:17All of these are the combined roots in COVID-19.

01:18Love the opposite are the core of the 2019.

01:20The