Milei's Economic Reforms Drive Market Surge in Argentina

Argentina's President Javier Milei's popularity rebounded in October as markets reached record highs due to his pro-market reforms. Despite challenges like triple-digit inflation and recession, Milei's tough policies have bolstered economic confidence and improved certain economic indicators.

Argentina's President Javier Milei has witnessed a significant rebound in his popularity ratings this October, according to a recent poll. The libertarian leader, known for his pro-market reforms, has seen the Argentine markets soar to record levels following his unexpected election victory last year.

The poll, conducted by Torcuato Di Tella University, highlighted a notable 12% increase in Milei's approval rating after a dip in September amid pension reform tensions. While battling severe economic issues like triple-digit inflation and recession, Milei's government has garnered market confidence through spending cuts and maintaining voter support with his candid demeanor.

Despite prevailing high poverty levels, improvements in inflation rates, currency reserves, and fiscal deficit have contributed to Milei's rising approval. Economic measures, including a zero deficit plan, have been well-received by financial markets, resulting in a surge in bonds and a decline in a national debt risk index. Milei, once seen as a political outsider, continues to balance voter expectations amid challenging economic conditions.

(With inputs from agencies.)