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Argentina’s Dollar Bonds Tumble After President’s Party Suffers Defeat in Buenos Aires Election
September 9, 2025
Argentina’s dollar bonds plunged across the board after President Javier Milei’s party faced a substantial defeat in the Buenos Aires provincial election. The defeat was considered to be much worse than what analysts had expected with Milei’s party trailing by nearly 14%. On the back of this defeat, analysts note that concerns are likely to rise among investors about the administration’s ability to garner the required political support to implement its economic reforms. While Milei acknowledged that they made political mistakes, he vowed to continue with austerity and free-market policies that have helped keep a lid on inflation. With the national midterm vote in October, Milei’s chances are said to depend on how he corrects course by then. Buenos Aires province makes up for almost 40% of the national electorate and thus had a major impact.
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