President Javier Milei’s sweeping libertarian agenda scored a decisive victory in Argentina’s midterm elections Sunday, giving him new political muscle to accelerate his economic overhaul and deepening his partnership with Washington.
La Libertad Avanza, Milei’s party, captured 41.5 percent of the vote in Buenos Aires province, edging the Peronist alliance’s 40.8 percent, according to official returns. The result marks a stunning upset in a Peronist stronghold and signals a broader shift in Argentina’s political order. Nationally, Milei’s bloc expanded its presence in the lower house from 37 to 64 deputies, according to government figures., writes Fox News.
The midterms—covering 127 deputy seats and 24 Senate positions—served as both a referendum on Milei’s reform drive and a test of confidence from U.S. President Donald Trump, whose administration has extended substantial financial aid to Argentina but cautioned that support could waver if Milei’s domestic backing faltered.
International observers, including White House officials and global investors, have lauded the libertarian government’s economic turnaround: monthly inflation has plunged from 12.8 percent before Milei took office to 2.1 percent this month. His administration has also achieved a budget surplus and rolled back numerous regulations.
Milei has hinted at a post-election cabinet reshuffle that could bring in members of the center-right PRO party, led by former President Mauricio Macri, which has often aligned with the government in Congress.
The results are expected to play well in Washington, where Trump’s proposed $40 billion aid package includes a $20 billion currency-swap deal and another $20 billion in debt investment options. Markets are forecast to open higher Monday, with Milei’s gains seen as reinforcing investor confidence and giving the president fresh momentum to press his radical economic reforms.
“That was a big win,” Trump told reporters on Air Force One Monday, referring to Milei’s party winning the most votes in an election seen as an assessment of his aggressive moves to revamp Argentina’s long-beleaguered economy. “Not only did he win, he won by a lot,” Trump said.
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