Milei Triumphs in Argentine Midterm Elections

Argentina’s libertarian President Javier Milei scored decisive victories in key districts in midterm elections, clinching a crucial vote of confidence that strengthens his ability to pursue his radical free-market experiment — backed by billions of dollars in support from the Trump administration, Isabel Debre reported for the Associated Press (AP).

Milei, a key ideological ally of U.S. President Donald Trump said his party and its allies picked up 14 seats in the Senate and 64 in the lower house of Congress. (Photo: Javier Milei Facebook)

In an election widely seen as a referendum on Milei’s first two years in office, his upstart La Libertad Avanza party won over 40% of the vote compared with 31% for the left-leaning populist opposition movement known as Peronism, exceeding analysts’ expectations.

Milei, a key ideological ally of U.S. President Donald Trump, said his party and its allies picked up 14 seats in the Senate and 64 in the lower house of Congress — enough to uphold presidential vetoes and block impeachment efforts.

High stakes included $40 billion in U.S. funding. Rarely has an Argentine legislative election drawn so much attention in Washington and on Wall Street.

Trump appeared to condition a $20 billion currency swap deal with Argentina’s central bank and an additional $20 billion loan from private banks on Milei’s strong showing in the national midterms — threatening to rescind the assistance if Peronists prevailed.

“If he wins, we’re staying with him. And if he doesn’t win, we’re gone,” Trump said after welcoming Milei to the White House earlier this month, Almudena Calatrava and Débora Rey also reported for AP.