Part 9/11:
On the economic front, the election outcome has been positively received. With the peso having strengthened roughly 10% against the dollar in the unofficial markets, trading near 1,300 pesos per dollar, Milei is in a better position to allow the peso to float freely. This stability could help curb inflation, build foreign reserves, and reduce the urgency of further interventions that risk depleting foreign exchange reserves.
The outcome suggests that Milei’s gamble—despite the internal and external turmoil—may be paying off, at least in the short term. His relative victory has also diminished fears of continued market instability, which can now provide a more stable foundation for Argentina’s economic reforms.