Declining Approval for Javier Milei Amid Corruption Allegations and Economic Challenges

Argentine President Javier Milei's administration is facing a significant decline in public approval, dropping nearly 5 percentage points in March 2025 amid rising corruption allegations and economic difficulties. Polls indicate that Milei's approval rating has fallen to as low as 35.1% to 36.4%, marking the lowest level since he took office. Concurrently, disapproval ratings have surged, with nearly 62% of respondents expressing negative views of his government.

Buenos Aires Times

The decline in Milei's popularity is attributed to several key factors. Corruption allegations have intensified following the promotion of the cryptocurrency $LIBRA, which experienced a rapid rise and subsequent collapse shortly after its launch, leading to investor fraud complaints. Local media have reported communications between Milei and a financier implicated in the scandal, further damaging public trust.

Reuters

Additionally, economic indicators show a troubling trend. Unemployment has risen to 7.5%, the highest fourth-quarter rate since the COVID-19 pandemic, and inflation remains elevated at around 3%, contrary to Milei's promise to keep it below 1%. Public sentiment reflects these concerns, with corruption, unemployment, and inflation topping the list of issues facing Argentines.

Buenos Aires Times

Milei's political standing has also been challenged by opposition figures, notably Buenos Aires Province Governor Axel Kicillof, who has recently surpassed Milei in public approval with a positive image of 38%. Kicillof's Peronist party has gained traction, particularly following a provincial vote that previously sparked market instability.

Buenos Aires Times

In response to the allegations, Cabinet Chief Manuel Adorni, who has faced scrutiny over his financial dealings, stated, "I built my wealth before entering the government. I have nothing to hide." This sentiment reflects the administration's attempt to counteract the negative perceptions surrounding corruption.

Reuters

Critics of Milei's administration have pointed to the government's failure to address pressing economic issues effectively. The perception of a deteriorating labor market, with nearly three-quarters of survey respondents describing it as "bad," has fueled dissatisfaction. Furthermore, public support for Milei's trade deal with the Trump administration has plummeted from nearly 60% to just 41%, as many Argentines fear it may lead to factory closures and job losses.

Buenos Aires Times

While various polls indicate a decline in Milei's approval ratings, discrepancies exist regarding the exact figures. For instance, consulting firm Trespuntozero reported a drop to 37.2%, while LatAm Pulse noted a slightly lower figure of 36.4%. These variations highlight the challenges in gauging public sentiment accurately.

Reuters

As Milei prepares for a potential re-election campaign, the administration faces the dual challenge of addressing corruption allegations and improving economic conditions. The upcoming months will be critical in determining whether Milei can regain public trust and stabilize his administration ahead of the elections.

Reuters