Argentina’s firebrand populist presidential candidate Javier Milei is coming under fire from his rivals who are blaming him for a sharp depreciation of the local currency in the parallel market.
Presidential candidate of the Liberty Advances coalition Javier Milei attends a presidential candidate debate ahead of the October general election in Santiago del Estero, Argentina, Sunday, Oct. 1, 2023. – Argentina’s firebrand populist presidential candidate Javier Milei, the front-runner to win the election later this month, is coming under fire from his rivals who blame him for a sharp depreciation of the local currency in the parallel market.
Stringent capital controls mean that access to the official foreign exchange market, which currently prices a dollar at 367 pesos, is extremely limited, so parallel rates have flourished. In recent days, Milei has suggested that the sharp depreciation of the peso could be convenient for his eventual presidency, saying that “the higher the price of the dollar, the easier it is to dollarize.”
Patricia Bullrich, the candidate of the main opposition coalition, United for Change, said Tuesday that “between Massa, the arsonist who is leading us into hyperinflation, and Milei’s irresponsibility, which encourages the currency run, there are Argentines distressed about the present and the future.”
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Argentina's populist presidential candidate Javier Milei faces criticism as the peso takes a diveArgentina’s firebrand populist presidential candidate Javier Milei is coming under fire from his rivals who are blaming him for a sharp depreciation of the local currency in the parallel market. Milei is the front-runner to win the Oct. 22 presidential election. He continues to tout his controversial plan for dollarization of the South American country’s economy. The Argentine peso has sharply depreciated over the past week. The informal exchange rate closed at around 1,025 pesos per U.S. dollar
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