Milei’s Approval Rating Drops After LIBRA Scandal

Polls show varying results regarding the President’s approval rating following the LIBRA scandal. According to a recent poll, 58% of Argentinians no longer trust Milei.

In a March poll by Zuban Córdoba, 57.6% of participants said they did not approve of him, while 36% still trusted him. Furthermore, Milei’s image and the national government’s approval rating have shown a significant decline in recent months.

The national government approval rating fell from 47.3% in November to 41.6% in March. Zuban Córdoba noted that negative assessments of the government have gradually increased, and this trend seems to be continuing.

President’s Approval Rating Drops After LIBRA Scandal: Mixed Poll Results

In another poll conducted by San Andrés University from March 11 to 20 with 1,020 participants, Milei’s approval rating was found to have dropped to 45%.

However, not all polls show the same picture. Data collected by Morning Consult from February 27 to March 5 indicates that Milei still has a 62.4% approval rating after the LIBRA scandal.

After the scandal, the President defended himself by claiming he did not promote the LIBRA token, but only spread it among the public. However, fraud lawsuits accuse him of promoting LIBRA.

The LIBRA token reached a market value of $4.6 billion after the President’s tweet on February 14, but experienced a 94% drop within hours.

Argentina’s opposition party has called for Milei’s resignation but has achieved limited success so far.

Milei’s Party Still Leading in Elections

Despite the negative results, the President’s party remains ahead in the upcoming elections. Debates have intensified as Argentina’s next elections are scheduled for October 26.

Despite the negative polling, his party, La Libertad Avanza, remains the most likely to win the highest share of votes, with 36.7% support, while Unión por la Patria is in second place with 32.5%.

However, only 43% of Argentinians believe Milei, a former economist, has adequately controlled inflation. Additionally, 63% of participants oppose Milei’s efforts to secure new loans from the International Monetary Fund.

Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our Telegram, YouTube and Twitter channels for the latest news and updates.

The post Polls Show 57% of the Public Does Not Trust President Milei appeared first on Coin Engineer.

How Did the Crypto Scandal Affect the Markets?

Known for his interest in cryptocurrencies, Javier Milei recently expressed his support for Libra token. However, shortly after its launch, the token collapsed due to an insider sell-off of $107 million. In total, $4 billion in market capitalization was wiped out, causing massive losses for investors.

You Might Be Interested In: Elon Musk Talks About the Name of a New Memecoin!

This scandal also dealt a severe blow to Argentina’s financial stability. Local investors, concerned about Milei’s economic policies, started selling off their stock holdings. The banking and industrial sectors suffered sharp losses, leading to a more than 6% drop in the Merval Index.

In the coming days, the statements from Javier Milei and the government’s response will be crucial in determining the market’s direction.

You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.

The post Argentina Stock Market Crashes After Libra Coin Scandal! appeared first on Coin Engineer.