Milei's popularity rebounds as Argentina's markets hit record highs
Milei's approval rating jumps 12% in October
Survey attributes popularity rise to improving economy
Inflation down, foreign reserves up, fiscal deficit reduced
Poverty levels, however, have risen sharply
Bonds rise, J.P. Morgan risk index hits lowest since 2019
Recasts with new polling and rewrites throughout
BUENOS AIRES, Oct 28 (Reuters) -Argentina's President Javier Milei saw his popularity ratings rebound sharply in October, a poll on Monday showed, bolstering the libertarian whose pro-market reforms have driven markets to record highs since winning a shock election last year.
A closely watched poll from the local Torcuato Di Tella
University showed Milei's approval rating jump some 12% after it
slid in September due to tensions around pension reforms.
The South American grains producer is battling triple-digit
inflation and a recession, but former pundit Milei has managed
to boost confidence in markets with tough spending cuts while
largely keeping voters onside with his straight-talking style.
Inflation, still in triple-digits on an annual basis, has
come down sharply each month, foreign currency reserve levels
are being rebuilt and his government has turned around a deep
fiscal deficit. Poverty levels, however, have risen sharply.
A separate survey from consultancy Aresco showed the
approval rating of Milei's government bouncing to 52.5% in
October from 49.6% a month before, which it attributed to improving economic indicators.
Milei, a political outsider, is riding a wave of voter anger
with the main political parties after years of economic crises,
despite a tough economic background and painful austerity
measures he has pushed to try and boost the state's finances.
His government's non-negotiable zero deficit plan has gained
huge cheers from markets, boosting bonds and stocks, while a
tight monetary policy has also tamped down inflation and reduced
a wide gap between official and parallel exchange rates.
On Monday bonds jumped further away from distressed
territory where they had languished in recent years, rising on
average 1.2%. Meanwhile, a key J.P. Morgan risk index of the
country's debt hit its lowest level since mid-2019.
"The BCRA (central bank) buying reserves, new loans from
international organizations, and high-frequency indicators
showing October inflation at 3% were key to the fall in country
risk," said Roberto Geretto of AdCap Grupo Financiero.
Andres Vernengo of consultancy CMA said Milei was, against
the odds, making the market happy. Fears about further
potential sovereign debt defaults were receding.
"Just when it seemed local assets were beginning to
falter ... more rabbits appeared out of the hat," he said.
Argentina's Javier Milei: Popularity Contest https://reut.rs/4eheXXZ
Reporting by Jorge Otaola, Walter Bianchi and Lucila Sigal; Writing by Brendan O'Boyle; Editing by David Alire Garcia, Adam Jourdan and Sandra Maler
Berita Terkini
Penafian: Entiti XM Group menyediakan perkhidmatan pelaksanaan sahaja dan akses ke Kemudahan Dagangan Atas Talian, yang membolehkan sesorang melihat dan/atau menggunakan kandungan yang ada di dalam atau melalui laman web, tidak bertujuan untuk mengubah atau memperluas, juga tidak mengubah atau mengembangkannya. Akses dan penggunaan tersebut tertakluk kepada: (i) Terma dan Syarat; (ii) Amaran Risiko; dan Penafian Penuh. Oleh itu, kandungan sedemikian disediakan tidak lebih dari sekadar maklumat umum. Terutamanya, perlu diketahui bahawa kandungan Kemudahan Dagangan Atas Talian bukan permintaan, atau tawaran untuk melakukan transaksi dalam pasaran kewangan. Berdagang dalam mana-mana pasaran kewangan melibatkan tahap risiko yang besar terhadap modal anda.
Semua bahan yang diterbitkan di Kemudahan Dagangan Atas Talian kami bertujuan hanya untuk tujuan pendidikan/maklumat dan tidak mengandungi – dan tidak boleh dianggap mengandungi nasihat kewangan, cukai pelaburan atau dagangan dan cadangan, atau rekod harga dagangan kami, atau tawaran, atau permintaan untuk suatu transaksi dalam sebarang instrumen kewangan atau promosi kewangan yang tidak diminta kepada anda.
Sebarang kandungan pihak ketiga serta kandungan yang disediakan oleh XM, seperti pendapat, berita, penyelidikan, analisis, harga, maklumat lain atau pautan ke laman web pihak ketiga yang terdapat dalam laman web ini disediakan berdasarkan "seadanya" sebagai ulasan pasaran umum dan bukanlah nasihat pelaburan. Sesuai dengan apa-apa kandungan yang ditafsir sebagai penyelidikan pelaburan, anda mestilah ambil perhatian dan menerima bahawa kandungan tersebut tidak bertujuan dan tidak sediakan berdasarkan keperluan undang-undang yang direka untuk mempromosikan penyelidikan pelaburan bebas dan oleh itu, ia dianggap sebagai komunikasi pemasaran di bawah peraturan dan undang-undang yang berkaitan. SIla pastikan bahawa anda telah membaca dan memahami Notifikasi mengenai Penyelidikan Pelaburan Bukan Bebas dan Amaran Risiko mengenai maklumat di atas yang boleh diakses di sini.
