Argentina’s Milei Secures Major Midterm Victory, Boosting Reform Agenda
President Javier Milei’s La Libertad Avanza coalition scored a decisive win in Argentina’s midterm elections, securing 40.84% of the vote and reviving momentum for his austerity-driven economic reforms.
Key Takeaways
- Milei’s coalition won 40.84% vote share in midterm elections
- Peronist opposition trailed with 31.64%
- Victory strengthens Milei’s economic reform agenda
- Comes after recent $40 billion US bailout package
The results mark a significant comeback for the right-wing leader, whose government had faced resistance to sweeping budget cuts and structural reforms. The elections represented the first nationwide test of Milei’s popularity since he took office two years ago.
Election Results and Political Impact
With 90% of ballots counted, Milei’s coalition dominated seats in both the Chamber of Deputies and Senate. The center-left Peronist movement, which recently won Buenos Aires provincial elections, finished well behind.
“God bless Argentina,” wrote Milei’s spokesman Manuel Adorni on X as results came in.
Economic Context and US Support
The campaign period was overshadowed by a run on the Argentine peso, prompting Milei to seek assistance from US President Donald Trump. Washington responded with an unprecedented $40 billion aid package, though Trump warned he wouldn’t “be generous” if Milei failed to secure favorable election results.
Voter Sentiment and Reform Challenges
Despite corruption scandals within Milei’s inner circle, many voters still rejected the Peronist camp, which faces widespread accusations of mismanagement.
“I support Milei’s party not because I think it’s the best option, but because I’m certain about who I want out,” said Adriana Cotoneo, a 69-year-old pensioner from Buenos Aires.
Milei’s Economic Record
Since taking office in December 2023, the former TV pundit has implemented drastic measures including:
- Tens of thousands of public sector job cuts
- Halting public works projects
- Reducing health, education and pension spending
- Sweeping deregulation initiatives
These policies initially deepened poverty but succeeded in reducing inflation by two-thirds, easing household pressure while slowing growth, consumption and manufacturing.
The victory comes after investors began dumping the peso last month following Milei’s party’s defeat in Buenos Aires provincial elections. Trump’s intervention helped stabilize Argentina’s economic and political standing as Milei moves to solidify his reform agenda.
