(BFM Stock Exchange) – The financial markets showed their concern after the party of President Javier Milei suffered a defeat on Sunday, September 7 in a key election in the province of Buenos Aires. The peso falls against the dollar, as well as the Argentinian actions listed at Wall Street.
The financial markets accused the defeat of the party of the ultra-looted president Javier Milei on Monday on Monday in provincial elections in Argentina, at the value of a test for the mid-term legislative elections, the Argentinian actions and the Peso recording strong declines.
At the opening of the foreign exchange market, the dollar jumped 5.3%, reaching 1,460 Argentinian pesos compared to the fence on Friday. Argentinian actions listed at Wall Street collapsed, losing up to 16% at the opening.
A failed electoral test
On Sunday, the candidates of the peronist governor of the province of Buenos Aires, Axel Kicillof, won with 47% of the votes against 33% for the candidates of President Milei, who recognized a “clear defeat”.
This significant gap made most of the polls lie, which provided a tight race.
It was the first major electoral test for Javier Milei since the start of his presidency in December 2023, on a revival program of an economy stuck in chronic inflation and debt, by sanding in public spending.
The Milei government will face national legislative elections on October 26.
(With AFP)
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