Argentina's opposition Peronist coalition formally launched an impeachment attempt against President Javier Milei on June 30, 2026, accusing his austerity policies of causing the country's deepening recession. The move comes as Argentina grapples with inflation above 200% and a prolonged economic downturn that has intensified political tensions.
The impeachment bid faces steep procedural hurdles. Conviction requires a two-thirds supermajority in Argentina's Congress, a threshold the Peronist coalition does not currently hold. Milei's libertarian party, La Libertad Avanza, controls a minority government but has secured key provincial alliances that bolster his position.
The attempt is the most formal challenge to Milei's tenure since he took office on December 10, 2023. The president, elected in November 2023 on a platform of radical economic reform, has pushed through sweeping austerity measures that have drawn both domestic protests and international scrutiny. Large-scale demonstrations have erupted against his policies, yet Milei retains significant support among anti-establishment voters.
Argentine presidential removals are historically rare; the last occurred in 2001 during a severe financial crisis. Analysts note that current conditions, while economically severe, may not yet meet the threshold for removal. The opposition's impeachment effort is widely seen as unlikely to succeed without broader congressional defections or a major escalation of unrest.
The next real-world event to watch is any floor vote in Congress on the impeachment articles. If the opposition fails to advance the measure or gathers additional support, the political calculus could shift quickly. Market participants are pricing a low probability that Milei leaves office before his term ends in December 2027.
