Latin America Risk Report

Latin America Risk Report

Argentina - The pre-midterm scandal

The markets' strong reaction to the scandal demonstrates how fragile Milei's gains are.

James Bosworth (Boz)
Aug 27, 2025
∙ Paid

Leaked audio recordings feature Diego Spagnuolo, then head of the National Disability Agency (ANDIS) and a longtime ally of President Javier Milei, describing an 8% “kickback” on state drug purchases routed via pharmaceutical distributor Suizo Argentina. Those payments allegedly went to Karina Milei (the president’s sister and chief of staff) and presid…

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