Argentina: the crisis is hitting the workers
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The US press wants to present this election as a great victory and a landslide for Milei and his party, but it is not; There was a very low participation of the voting population, only 65% considered as one of the lowest in the history of Argentina, and Milei only obtained 39.5% and the peronista opposition obtained 29.6%
https://buenosairesherald.com/world/international-relations/trump-congratulates-milei-on-landslide-victory-in-argentinas-midterms. It is not a landslide. A 39% from a participation of 66%, considered as the lowest one in the history of Argentina, is not a landslide, and the Peronistas obtained a second place, and there were several other political parties who also obtained many votes. It is not like in the USA, where only two political parties participated in the election process.
And the victory was produced because of the monetary sway that the government signed with the USA before the election. There were predictions before the swap that there was a tie or that the opposition was going to win
https://www.commondreams.org/news/trump-argentina-election?utm_source=Common+Dreams&utm_campaign=4fd1579733-Top+News%3A+Mon.+10%2F27%2F25+w%2F+fundraiser&utm_medium=email&utm_term=0_-5cab4589e1-601439995Argentine economists believe the US Treasury has already sold its pesos
Argentine economists believe the US Treasury has already sold its pesos
A Central Bank balance sheet indicates that the currency swap between both countries may have been activated, prompting economists to demand transparencyUS banks shelve $20 billion bailout plan for Argentina. They can only provide a $ 5 billion short-term loan, which is not even enough for several Parrilladas and Malbecs. Donald Trump made a lot of noise, but his promises failed, and workers voted for Milei Congress again, and despite that, his approval was very low. Ironically, besides being a debtor, it is also a creditor; Cuba, Guyana, and Guinea owe Argentina more than 3 billion dollars, which have not been paid
Make Argentina Crash Again: On Milei’s Neoliberal Experiment
Make Argentina crash again
Argentina government signed a financial agreement with Russia and dumped the International Monetary Fund
Argentina-IMF Relationship under Milei
Record Borrowing: Argentina is the IMF’s largest borrower, with an outstanding debt of over $40 billion.
New $20 Billion Program: In April 2025, the IMF executive board approved a new 48-month, $20 billion Extended Fund Facility (EFF) arrangement to support Milei’s economic stabilization program. This was seen as a strong endorsement of his aggressive austerity measures and fiscal consolidation efforts.
Immediate Disbursement: The deal was notable for an immediate disbursement of $12 billion to bolster Argentina’s critically low foreign exchange reserves, an unusual move for the IMF.
Conditions: The agreement is tied to strict policy implementation, including a “zero-overall deficit target” and market-oriented reforms. Reviews of the program continue, with a recent review in July 2025 enabling a further disbursement of about $2 billion.
Argentina’s Stance on Russia
Geopolitical Realignment: President Milei has explicitly realigned Argentina’s foreign policy with the United States and other Western nations, viewing this as a move away from countries he considers “communist” or adversarial, including Russia and China.
BRICS Rejection: As part of this new foreign policy, Argentina formally renounced its planned membership in the BRICS economic alliance (Brazil, Russia, India, China, and South Africa), a decision that reduced its potential alternative financing options.
No Bilateral Agreement: The publicly available information indicates no trade, investment, or IMF-related agreement between Argentina and Russia under the Milei administration. The focus has been on Western financial support.The 20 billion deal was shelved by the USA Banks
Beijing break-up: Trump wants China out of Argentina. Could Milei afford it?
To break the agreement between China and Argentina is a commercial and trade agreement that the government of Milei can not afford
To break the trade agreement between Russia and Argentina is also a trade agreement that Milei is not going to break either; he is flirting with all the world powers
Argentina’s 20 billion bail-out ( monetary swap ) was cancelled by Chase and Citibank.
It looks like the government of Milei has increased the popularity of the Trotskyists in Argentina; there are predictions that they might win the next election, and the leader is a woman named Myriam Bregman (a Jewish descendant from Europe). The PTS is known as the Red Peronists. The PTS is the biggest Trotskyist party at present. In May, it filled up a whole stadium
https://en.wikipedia.org/wiki/Myriam_Bregman
In Argentina, Trotskyism is more popular than Castroism, Guevaraism, Chavismo and Stalinism. Ironically, their neighbours, the Chilean workers, just elected a right-wing populist anti communist president ( 58% ), which might also create the conditions for the ascension of the leftists again
It looks like the government of Milei has increased the popularity of the Trotskyists in Argentina; there are predictions that they might win the next election
That’s very interesting. Do you have the source for this prediction that I could cite?
I am constantly coming across FB sites that seem to have a large fan base for Milei, although the people concerned tend to be MAGA types based in the US. British right-wingers have a more ambivalent attitude towards Milei because of the Falklands/Malvinas issue
The article from El Sobrante is predicting that
She is just like another Bernie Sanders. It is not a revolutionary movement; she is the most honest among all the Argentinian politicians .
PS, I can translate both articles
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