Argentina’s President Javier Milei has scored a sweeping victory in Sunday’s midterm elections, tightening his grip on Congress and reinforcing his mandate to pursue radical free-market and austerity reforms.
His libertarian party, La Libertad Avanza (LLA), captured 41% of the national vote, securing 13 of 24 Senate seats and 64 of 127 lower-house seats. The win marks a dramatic shift in Argentina’s political landscape, giving Milei the legislative leverage to push deeper spending cuts and deregulation measures.
Before the vote, former US President Donald Trump tied Washington’s recently announced $40 billion economic support package to Milei’s ability to sustain political momentum. Critics denounced the remarks as interference, but Milei embraced the backing, telling jubilant supporters:
“We must consolidate the path of reform to turn Argentina’s history around once and for all — to make Argentina great again.”
Since taking office in 2023, Milei has wielded a self-styled “chainsaw” against state spending — slashing budgets for education, health, infrastructure, and pensions, and laying off tens of thousands of public-sector workers. Supporters credit him with cutting the deficit and reining in triple-digit inflation, while restoring investor confidence.
But opponents warn that the price is soaring unemployment, shrinking wages, and a looming recession. “There’s a lot of poverty… factories have closed,” said Verónica, a retired police officer affected by pension cuts. Social workers and disability advocates also fear renewed threats to overturned spending bills that Milei previously vetoed.
Milei’s populist austerity message still resonates with many Argentines frustrated by decades of Peronist economic mismanagement. “Now, thank God, freedom has won,” said Ezequiel, a young supporter celebrating in Buenos Aires.
The midterm results come amid deep economic strain: inflation near 120%, an overvalued peso, and depleted reserves ahead of $20 billion in debt payments due next year. The US-backed lifeline — a mix of currency swaps, peso purchases, and private investment guarantees — offers temporary relief but also new dependence on foreign support.
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With voter turnout at 67.9%, the lowest in decades, analysts see the outcome as a mandate for reform rather than enthusiasm for austerity. Political scientist Thiago Pérez summarized the mood: “People want change — but they’re not sure how much pain they can take.”
For now, markets are expected to rally on Milei’s victory, signaling investor confidence in his economic experiment — even as ordinary Argentines brace for what comes next in the president’s “chainsaw revolution.”