In 1987, Argentina is grappling with an economic crisis. Carlos Menem, governor of La Rioja, embarks on a nationwide campaign to realise his ambition of becoming the president of Argentina. But first, he must win his party's presidential primaries.

Menem scrambles to form his cabinet, meeting with businessmen and lobbyists. He navigates a web of negotiations, balancing demands, financial support, and pressure from the United States and the Yomas. It is impossible for him to satisfy everyone.

Menem's first major initiative involves privatising state-owned enterprises to generate funds for the struggling treasury. To enact this plan, he requires the State Reform Law, but he lacks the necessary votes in Congress.

A scandal erupts in Menem's administration when Amira Yoma is implicated in a money laundering operation. To placate the media and judiciary, Menem sacrifices one of his own. Olegario grows increasingly wary of Ayala's benevolent demeanour.

Menem believes that constitutional reform is essential for his bid for reelection. He is confident that he can negotiate effectively with the opposition. However, the isolation and paranoia that come with power begin to undermine his resolve.

An explosion at the AMIA kills 85 and injures many. Migue's investigation into high-level corruption delves deeper, leading to a clash between Ayala and Olegario over the revelations. Olegario comes to terms with the corruption surrounding him.