President Javier Milei’s La Libertad Avanza party delivered a stunning midterm victory, securing 64 seats in the Chamber of Deputies (up from 37) and edging out Peronists in their Buenos Aires stronghold with 41.5% of the vote.
The win grants Milei the crucial one-third bloc to block congressional veto overrides, empowering him to deepen austerity and deregulation despite public discontent over subsidy cuts and rising poverty.
Inflation has plunged from 12.8% to 2.1% monthly under Milei’s reforms, fueling voter fears of returning to past crises. U.S.
President Trump, who tied a $40 billion aid package—including a $20 billion currency swap—to Milei’s success, stands to gain from the outcome. Markets are poised for a strong rally on Monday.
