ARGENTINA: The $LIBRA Case & more – 19th Mar 2026

¡Buenos días from Greenway Parks! This is the Rorshok Argentina Update from the 19th of March twenty twenty-six. A quick summary of what's going down in Argentina.

The biggest story this week involves a serious turn in the $LIBRA situation. For those who need a refresher, $LIBRA was a digital token President Milei promoted on social media on the 14th of February twenty twenty-five. It gained value fast but crashed within hours, leaving thousands of investors with nothing.

This week, investigators found a deleted note on the phone of Mauricio Novelli—a businessman and lobbyist who acted as a bridge between the President and the crypto’s creators—suggesting a five-million-dollar deal for Milei’s public backing. While the government hasn’t confirmed this agreement, the timing of the notes matches the moments Milei began promoting the token online.

Forensic reports also allege Novelli has been making regular 2,000 dollar payments to Milei since twenty twenty-one for financial classes and promotional work.

Congressional lawmakers are losing patience because they claim Eduardo Taiano, the lead prosecutor, is intentionally stalling the probe to protect the government. In response, they are suing the prosecutor and have officially summoned Karina Milei, the President’s sister and Chief of Staff, to testify about her own frequent calls with Novelli during the token’s launch.

Speaking of the President’s legal troubles, political analyst Walter Curia recently published a sharp piece arguing that the $LIBRA scandal is now the greatest threat to the Milei administration. Writing for the Buenos Aires Times, Curia argues that the President’s main defense—that he was just a casual supporter of a private project—is completely collapsing as more evidence of deep personal ties surfaces. He explains that the timing of these secret notes and phone calls introduces a moral crisis for a government that built its entire identity on fighting corruption, and warns that as public confidence indicators fall, the scandal is only going to escalate.

You can check out the full piece in English with the link in the show notes.

On the topic of the President’s inner circle, Manuel Adorni, his Cabinet Chief, is once again facing backlash over his travel habits. After bringing his wife on the official trip to New York, new reports surfaced about a private jet holiday to Punta del Este in Uruguay, costing nearly 6,000 dollars per leg. Adorni reportedly traveled to the resort with his family and a friend on a chartered flight costing thousands of dollars. While he says it’s a private matter, opposition leaders are questioning how his declared income covers such expensive travel, especially while the government pushes for national austerity.

Shifting to international relations, the relationship between Argentina and Iran has hit a red line. Following the President’s recent comments labeling Iran an enemy, a Tehran-linked media outlet warned that Buenos Aires has become “the Israel of Latin America.” During a ceremony for the 34th anniversary of the ninety ninety-two Israeli Embassy bombing in Buenos Aires, Milei pledged to end the Iranian tyranny, stating there can be no truce with terrorism.

In a bit of a win for the government’s legal battles, the United States government is stepping in to help Argentina in New York. In the long-running case over the twenty-twelve nationalization of the oil company YPF, Washington asked a judge to stop intrusive efforts by creditors to seize Argentine assets. The US warned that letting private lawyers dig into central bank gold or high-level government chats could hurt global diplomacy.

Regarding the markets, global volatility continues to make things rocky for local assets. The ongoing tensions in the Middle East have kept oil prices above 100 dollars a barrel, which pushed the Argentine country risk index back toward 600 points, making it more expensive for the country to borrow money.

Away from the markets, Argentina has officially completed its withdrawal from the World Health Organization. The process took a year to finish and follows a similar move by the United States. While officials say this won’t change local healthcare, critics worry it could make it harder for the country to track new diseases or get cheaper prices on vaccines through the organization’s collective funds.

For those looking to buy a home, the Buenos Aires City government launched a new line of subsidized mortgages through the Banco Ciudad. These offer an annual interest rate of 7.5% plus inflation-adjusted units known as UVAs. This subsidy means lower monthly payments for the middle class. The loans cover up to 75% of a home’s value, and the city is now letting applicants include a guarantor to boost their credit capacity.

In other news regarding social assistance, the Volver al Trabajo program is ending next month. This program used to provide direct monthly cash payments to nearly one million vulnerable people. Now, the government is replacing it with a voucher system. Instead of getting cash, people will receive vouchers specifically for training courses or finishing school. The goal is to cut out political middlemen and focus on job skills.

In the legal world, Cristina Fernández de Kirchner, the former president, made a rare appearance at the Comodoro Py courthouse. Currently under house arrest, she showed up to testify in the Cuadernos case—a massive investigation into alleged bribes paid by construction companies to officials during her administration. She refused to answer questions and instead called the trial a mafia-style political persecution.

In a separate legal battle involving sports, Chiqui Tapia, the head of the Argentine Football Association, or AFA, had a brief visit to the courthouse this week. He is being investigated for alleged tax evasion involving around 19 billion pesos (about 13 million US dollars). Tapia and other officials declined to answer questions, calling the case a move by the government to force clubs into becoming private corporations.

Since we mentioned football, Lionel Scaloni, the head coach of the National Team, released his final roster before the twenty twenty-six World Cup. The team will play a friendly against Guatemala on the 31st of March at La Bombonera in Buenos Aires. There are a few surprises, including defenders Tomás Palacios and Gabriel Rojas, though some veterans are staying in Europe to recover from minor injuries.

On the rugby pitch, Argentina wants to bring the Rugby World Cup home. The Argentine Rugby Union officially announced it will bid to host the men’s tournament in twenty thirty-five. The goal is to show the region is ready for a major event, with the possibility of sharing hosting duties with neighboring countries.

On that note about international connections, Elon Musk’s Starlink chose Argentina as the launch market for its new portable internet kit, the Mini X. This compact system is about the size of a laptop and includes a built-in router, making it ideal for people living in rural areas or travelers who move between locations. The hardware costs just under 300,000 pesos (about 200 US dollars), and while the monthly plans are separate, it provides a much-needed alternative in places where fiber optics simply don’t reach.

In the south of the country, there was a tragic end to a search in Ushuaia. Sean Christopher Bartel, a thirty-seven-year-old American journalist, was found dead after going missing during a solo trek. His body was found near the trail to the Ojo del Albino glacier in the southern province of Tierra del Fuego. Local police believe he fell from a high altitude and noted he was not wearing the right gear for the freezing mountain weather.

And to close this edition, we have to say goodbye to a piece of Buenos Aires history. The historic bar The New Brighton in the San Nicolás neighborhood has officially declared bankruptcy. The site had been open for over a century and hosted royalty back in the thirties, but it couldn’t survive the shift away from office work in the city center.

Aaand that’s it for this week! Thank you for joining us!

Anything you want to tell us? info@rorshok.com

¡Nos vemos la próxima semana!