November 2026
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November 2
- Democrats win US House and Senate as voters punish Trump, Argentine press reports
Democrats won control of both the US House of Representatives and the Senate in legislative elections, according to results reported by Argentine outlets. The result is described as a strong vote of punishment against Donald Trump's administration.
- Milei government plays down Trump's US election defeat as Argentine markets brace for losses
The Democratic sweep in the US congressional elections has set off alarms in Buenos Aires financial circles, where the City expects further losses in Argentine shares and bonds from the Trump effect. The government is counting on the US Treasury backstop and on the Milei-Trump rapport to hold, while the establishment fears new obstacles to investment and rescues.
- Paraguay's Santiago Peña resigns presidency over Ueno Bank scandal and faces political trial
Santiago Peña resigned the presidency of Paraguay after the Ueno Bank scandal left him cornered, according to Argentine outlets reporting the collapse of his government. The bank crisis had grown into a full political crisis, and the break with Horacio Cartes sits behind the banking scandal that engulfed Peña. The Ueno Bank intervention had frozen the savings of millions of clients at one of Paraguay's largest banks, which had close to 3 million customers.
- Argentina's government stalls on 2027 PASO suspension and budget as talks with governors and UCR falter
Argentina's government has failed to reach agreement with provincial governors, delaying the two bills it most needs: the Budget and the PASO electoral reform. The Senate remains short of the votes to suspend the 2027 primaries, with negotiations still blocked.
- Argentina's central bank confirms recession and flags new inflation pressure from meat, utilities and fuel
The Banco Central presented its Monetary Policy Report for the third quarter of 2026 at a press conference, and the report identifies risks to the Argentine economy from the external context and local conditions. The central bank anticipates a recovery in the economy in the fourth quarter, according to the report's conclusions.