The Americas Quarterly Podcast Javier Milei’s Ups and Downs
Apr 9, 2026
Alejandro Catterberg, president and co-founder of Poliarquía Consultores, a leading Argentine pollster. He unpacks a sudden plunge in public optimism, explains how political noise and internal fights dented momentum, and outlines shifts in voter concerns from inflation to jobs. He also discusses regional divides, risks of anti-business rhetoric, and Argentina’s export and investment opportunities.
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Popularity Drop Fueled By Political Noise
- Political noise rather than economics drove the March fall in optimism.
- Alejandro Catterberg ties the drop to internal government infighting, a return to Milei's aggressive style, and last-minute policy reversals that spooked markets.
Policy Reversals Created Market Uncertainty
- Self-inflicted political moves increased uncertainty despite solid macro trends.
- Catterberg cites stopping a new inflation indicator and blocking market-friendly financing as examples that prompted resignations and market unease.
Big Early Gains Are Hard To Repeat
- Economic sentiment improved massively from last year's crisis but recent gains are harder to sustain.
- Catterberg notes moving from near-hyperinflation to ~30% generated big support, but further reductions yield smaller political returns.