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Weekly Report - 20 February 2025 (WR-25-07)
ARGENTINA: Milei embroiled in crypto scandal
A late-night social media post on 14 February landed Argentina’s President Javier Milei in very hot water. His government has devoted all of its energies since then trying to extricate him from it. In the process, he has slipped further in. Milei’s endorsement of a cryptocurrency called ‘$LIBRA’, which soared in value only to crash all in the space of a few hours, laid him open to charges of misconduct or, what is perhaps worse for his particular political brand, incompetence. The political opposition has seized upon the debacle to threaten Milei with impeachment. While this is unlikely, the whole incident has stripped him of the political momentum he had been gathering.
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