Milei Comes Out Swinging as Setbacks Pile Up Before Key Vote

President Javier Milei suffered rapid-fire political, economic and financial setbacks this week that he’ll need to spin to his advantage as his most daunting electoral test yet draws near.

Opposition lawmakers threatened the primary budget surplus the libertarian president touts as his crowning achievement by rejecting Milei’s vetoes on multiple spending bills Wednesday. Fresh data showed economic activity contracting for a second straight month. And a liquidity squeeze sent interest rates soaring to record highs as the government worked to prop up the peso.