The leader of La Libertad Avanza, Javier Milei, arrived unexpectedly this Friday in Miami and moved to Naples (in Florida), while two of his economists met with investors and bankers to present the plans for that space but also listen to the climate that reigns on Wall Street regarding the proposals of the libertarian candidate. There was talk of the possibility of continuing the trip to New York, but this possibility was rejected.
Without having previously announced it and in the midst of great secrecy, Milei arrived in Miami accompanied by his sister Karina, as confirmed by sources from their space, although the reason “is personal, not political,” they said. “Personal issues, nothing linked to politics or business,” they said around them.
At first it turned out that he had traveled to New York directly, but in reality he made a stop in Miami and then went to Naples, a much quieter coastal town in the west of the Florida peninsula, where Argentines do not usually vacation and one of the places that wealthy Americans choose for retirement. “He is looking to get oxygen” before the final stretch of the campaign, they told Clarion from your environment. “In Buenos Aires the environment is very toxic,” they explained.
Milei will then travel to NY, possibly on Sunday, also on a private visit, a couple of days. But beyond the fact that his trip is personal, the winner of the PASO decided to make an advance in the United States, where They do not know him in political or economic environments and where their proposals generate uncertainty and concern.
Although Milei has declared to be pro-EE.UU e Israel (a great ally of the White House), the Joe Biden government sees with some concern the rise of this candidate who wants to “end caste” and who admira a Donald Trump who also wanted to drain the “Wahsington swamp.” Here it is known as “Mini Trump” or “Bolsonarito” and they fear that it could have undemocratic behavior such as the assault on the Capitol or the Brazilian institutions in Brasilia. His dollarization proposal has also sparked criticism among experts.
The secrecy surrounding Milei’s trip is strong. Although they noted that her visit was not political in nature, there was speculation that she may have been seeking a meeting with Trump, whom she admires and emulates in many of her campaign behaviors. Her recent interview with the ultraconservative American commentator Tucker Carlson I could have opened the door for him. But from the libertarian environment they denied it. “It’s just rest,” they pointed out.
consulted by Clarion, a former official who held a relevant position for the region during the Trump administration, said that: “I don’t think Trump would respond positively to an approach unless Milei’s contact channel was very, very good. Trump is in a thousand and one complications (in reference to the number of trials he faces) and in the campaign and he was never given to those things, not even when he showed curiosity about Andrés Manuel López Obrador or Bolsonaro when they were in their initial campaigns.
It was also revealed that he would go to New York to visit the grave of the deceased. “Lubavitcher Rebbe”, seventh leader of the Hasidic dynasty who died in 1994, but the libertarian environment rejected that version.
Meeting with Wall Street bankers
Meanwhile, the economists sent by Milei, Darío Epstein and Juan Nápoliheld a meeting on Thursday night with investors and bankers at the house of Gerardo Matoformer HSBC executive, in Greenwich, a district of million-dollar mansions in Connecticut, an hour by train from Manhattan.
The atmosphere of the meeting was relaxed and The attendance exceeded the expectations of Milei’s envoys. At first it was planned that it would be a formal dinner, but given the number of guests – more than 75 – the classics came out. empanadas with Argentine wine. The meeting began at 8 and ended around two in the morning, something unprecedented by American standards, much less on a Thursday.
The formal list of guests was not disclosed, but a group of people interested in the Argentine ups and downs arrived, among them representatives of banks and the main investment funds and bondholders such as Allianz SE, BlackRock, FMR, Capital Group, UBS, Credit Agricole Group, Vanguard Group, NN Group, Intesa Sanpaolo, Global Evolution, Ashmore Group, TCW Group, among others.
The meeting was not a formal presentation, but rather a interactive meeting, work, reported sources who attended the event. There was talk of dollarization, of the stocks, of governability, of the Leliq, of the speed in reducing spending. The envoys listened attentively to the guests.
According to investors present, Epstein and Napoli “rather wanted to listen to the different market participants, find out how they saw the current situation and the different electoral proposals,” they told Clarion. That is to say, it was not a conference but rather a round trip. “They were very receptive to different ideas, although they did not give too many details regarding the fiscal or monetary part,” they noted.
Investors find sense in Milei’s envoys seeking to probe what expectations are because any stabilization plan may also depend on that. They viewed “many of the proposals favorably, especially those that involve eliminating regulations and lowering public spending. The objective of stabilizing and giving more space to the private sector should be very positive for growth (once the adjustment is made) and once we get on that path everything will be easier. The doubts are about the implementation capacity.”
A Wall Street bank executive summed up with some irony: Clarion concern for the structure of La Libertad Avanza. Where, if Milei wins, will they find the people necessary to carry out the measures, an issue that is strongly raised on Wall Street: “I think today they barely fill two buses,” he smiled.
2023-09-08 19:10:59
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