57% of Argentines Lose Trust in President Milei, Poll Shows After LIBRA Scandal

President Milei’s name is again in the spotlight, and not for the right reasons. According to a recent poll, nearly 58% of Argentines now say they don’t trust President Javier Milei following his link to the $4.6 billion Libra crypto scandal.

Polling group Zuban Córdoba, during one of its surveys, asked 1,600 people between March 12 and March 14, “After more than a month since the crypto fraud scandal came to light, how much do you trust Milei today?” In response, around 57.6% of people said that they no longer trust him, while about 36% said that they still trust him. The report said that 6.4% of people were still unsure.

This was the first time the question appeared in a Zuban Córdoba poll. This fall in public trust shows in broader approval ratings, while several other metrics, including Milei’s image and the national management approval rating, have dropped sharply in the past few months. For instance, the last approval rating went down from 47.3% in November to 41.6% in March.

This growing distrust reflects broader dissatisfaction with the government’s handling of recent challenges.Public dissatisfaction with Milei continues to rise, “because more than 57% of people are currently unhappy with his leadership,” Zuban Córdoba said. “Negativity keeps rising slowly and seems like it won’t stop.”

“The shift in tone and opinion about the government is becoming stronger as more and more serious issues arise on the political calendar.” The study by Zuban Córdoba took place from March 12th to March 14th, and the survey had a sample size of 1,600, with a 95% confidence level and a 2.45% margin of error.

The University of San Andrés conducted a new poll from March 11–20, with 1,020 people responding, showing Milei’s approval rating has fallen to 45%. But not every poll shows the same thing about President Milei recently.

However, another recent poll paints a more positive picture. According to polls done by Morning Consult between February 27 and March 5, Milei still had a 62.4% approval rating after the Libra scandal.

Since the scandal, Milei has distanced himself from Libra. He claimed in a controversial post on February 14 that he didn’t “promote” the LIBRA token as alleged in fraud lawsuits, but instead he just “spread the word” about it to inform the public.

The Libra (LIBRA) token’s market value shot up to $4.6 billion soon after Milei’s X post. It then declined by almost 94% in the next few hours.

As the coin crashed and political tensions rose, the opposition party in Argentina has been calling for Milei’s removal from office, but they haven’t had much luck so far.

Opposition Demands Milei’s Removal, Voters UnsureCurrently, the political atmosphere in Argentina seems quite tense because the next election is likely to be held on October 26 this year.

Despite mounting opposition, Milei’s La Libertad Avanza party still has the best chance of winning the next election in Argentina, with 36.7% of the vote going to the libertarian party, while Unión por la Patria comes in next at 32.5%.

However, only 43% of Argentines believe that Milei, who was an economist before becoming president, has taken enough steps to control inflation, while on the other hand, 63% of people are against his efforts to take a new loan from the International Monetary Fund (IMF). As Argentina heads toward the election, these concerns may play a crucial role in shaping voter sentiment.